Greenstein Leonard M. 4

What Happened
Leonard M. Greenstein, CFO and Treasurer of Carlsmed, received a grant of 44,977 restricted stock units (RSUs) on January 28, 2026. The RSUs were recorded at $0.00 per unit (no cash exchanged at grant). The award represents a contingent right to receive common shares if and when the RSUs vest.

Key Details

• Transaction date: 2026-01-28 (Form 4 filed 2026-01-30). Filing appears timely.
• Transaction type/code: Award/Grant (A).
• Amount: 44,977 RSUs; grant price shown as $0.00; reported acquisition value $0.
• Vesting: RSUs vest in three equal annual installments starting on the first anniversary of the grant (per footnote F1).
• Shares owned after transaction: not specified in the provided filing excerpt.
• No 10b5-1 plan, sale, or tax-withholding details disclosed in this excerpt.

Context
RSUs are compensation awards that convert into company shares only when they vest, so this is not an open-market purchase or sale. Such grants are common executive compensation and do not by themselves indicate a buy or sell decision by the insider until/if shares vest and are sold. Upon vesting the RSUs typically result in ordinary income for the recipient and may be subject to withholding or other company-specified conditions.