CARLSMED (CARL) CFO Richard Heppenstall Receives Equity Awards

What Happened

• Richard Heppenstall, Chief Financial Officer and Treasurer of CARLSMED, was granted equity on 2026-09-28: 89,286 restricted stock units (RSUs) and a derivative award representing approximately 180,137 stock options. Both grants show an acquisition price of $0.00, indicating these were compensation awards rather than purchases.

Key Details

• Transaction date: 2026-09-28; Form 4 filed: 2026-09-30 (timely filing).
• Price: $0.00 for both items (award/grant code A).
• RSUs: 89,286 units (each converts to one share when vested).
• Options/derivative: 180,137 unvested stock options exercisable into ~180,137 shares.
• Vesting (footnotes): RSUs vest in three equal annual installments starting 9/28/2026. Options: 25% vests on 9/28/2026, remaining 75% vests in 1/12th installments quarterly thereafter, subject to continued service.
• Shares owned after transaction: Not stated in the provided filing excerpt.
• No sale or exercise occurred; this is a grant/compensation event (not a market buy or sale).

Context

• These are compensation awards that vest over time and are contingent on continued employment; they do not represent an immediate cash outlay or stock sale.
• The derivative entry reflects unvested options (future ability to buy shares), not an immediate exercise or stock transfer.