[144] Carisma Therapeutics Inc. SEC Filing

Rhea-AI Filing Summary

Carisma Therapeutics, Inc. (CARM) submitted a Form 144 notifying of a proposed sale of 484,347 common shares through Morgan Stanley Smith Barney LLC, with an aggregate market value listed as $134,164.12. The filing reports 41,788,096 shares outstanding and names 09/30/2025 as the approximate sale date on NASDAQ. The shares were acquired as founder stock on 05/31/2017 from the issuer, and the filing indicates the payment/nature of disposition as compensation. The filer reports no sales in the past three months. Several identifying filer and contact fields are not provided in the notice.

Positive

• Compliance with Rule 144 disclosure requirements by reporting a proposed sale through a registered broker
• Full acquisition history provided (acquired as founder stock on 05/31/2017) clarifies insider status

Negative

• Insider liquidity event of 484,347 shares represents approximately 1.16% of outstanding shares, which could be perceived negatively by some investors
• Missing filer/issuer identification fields (CIK, contact name/email, issuer name/address) reduce transparency in the filing provided

Insights

Securities Analyst

TL;DR: Founder intends to sell ~484k shares (~1.16% of outstanding) under Rule 144; filing is routine disclosure.

The Form 144 documents a proposed controlled-person sale executed through Morgan Stanley Smith Barney. Using the disclosed quantities, the shares to be sold represent approximately 1.16% of the company's reported outstanding common stock (484,347 of 41,788,096), which is modest in absolute scale. The filing confirms acquisition as founder stock in 2017 and classifies the disposition as compensation-related. From a market-impact perspective, this appears to be a routine insider liquidity event rather than a material corporate development.

Corporate Governance Expert

TL;DR: The notice meets Rule 144 disclosure requirements but omits some filer contact/CIK details.

The document provides the required sale notice elements—class, broker, quantity, acquisition date, and nature of acquisition—but several issuer/filer identification fields (CIK, filer contact name/email, and issuer name/address) are blank or not populated in the provided content. While the core disclosure about the proposed sale is present, absent identifying details reduce transparency for stakeholders seeking to validate the filer or contact the reporting party.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor NEW YORK NY 10004	484347	134164.12	41788096	09/30/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	05/31/2017	Founder Stock	Issuer			484347	09/30/2025	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Carisma Therapeutics' (CARM) Form 144 disclose?

The filing discloses a proposed sale of 484,347 common shares through Morgan Stanley Smith Barney LLC with aggregate market value of $134,164.12, targeted for 09/30/2025 on NASDAQ.

How many shares outstanding does Carisma report in this filing?

The Form 144 lists 41,788,096 shares outstanding for the issuer.

When and how were the shares being sold originally acquired?

The shares were acquired as founder stock on 05/31/2017 from the issuer, per the filing.

Does the filing report any securities sold in the past three months?

No. The filing states "Nothing to Report" under securities sold during the past three months.

Who is the broker handling the proposed sale for CARM?

The broker named in the notice is Morgan Stanley Smith Barney LLC, Executive Financial Services, 1 New York Plaza, 8th Floor, New York, NY 10004.