JONATHAN D. ROOT - 22 Jul 2025 Form 3 Insider Report for CARLSMED, INC. (CARL)

Role: Director
Signature: /s/ Leonard Greenstein, as attorney-in-fact for Jonathan Root
Issuer symbol: CARL
Transactions as of: 22 Jul 2025
Transactions value $: $0
Form type: 3
Filing time: 22 Jul 2025, 17:31:13 UTC
Previous filing: 08 Jul 2025
Next filing: 07 Oct 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
ROOT JONATHAN D	Director	C/O CARLSMED, INC., 1800 ASTON AVE., SUITE 100, CARLSBAD	/s/ Leonard Greenstein, as attorney-in-fact for Jonathan Root	22 Jul 2025	0001225480

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	CARL	Series A Preferred Stock							22 Jul 2025	Common Stock	2.95M		See Footnotes	F1, F4, F5
holding	CARL	Series B Preferred Stock							22 Jul 2025	Common Stock	825K		See Footnotes	F1, F4, F5
holding	CARL	Series C Preferred Stock							22 Jul 2025	Common Stock	532K		See Footnotes	F1, F4, F5
holding	CARL	Series A Preferred Stock							22 Jul 2025	Common Stock	150K		See Footnotes	F2, F4, F5
holding	CARL	Series B Preferred Stock							22 Jul 2025	Common Stock	41.9K		See Footnotes	F2, F4, F5
holding	CARL	Series C Preferred Stock							22 Jul 2025	Common Stock	27K		See Footnotes	F2, F4, F5
holding	CARL	Series C Preferred Stock							22 Jul 2025	Common Stock	1.12M		See Footnotes	F3, F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Stock held by U.S. Venture Partners XII, L.P. ("USVP XII").
F2	Stock held by U.S. Venture Partners XII-A, L.P. ("USVP XII-A").
F3	Stock held by U.S. Venture Partners Select Fund I, L.P. ("USVP SFI"), on its own behalf and as nominee for U.S. Venture Partners Select Fund I-A, L.P. ("USVP SFI-A").
F4	Presidio Management Group XII, L.L.C ("PMG XII") is the general partner of USVP XII and USVP XII-A. Presidio Management Group Select Fund I, L.L.C ("PMG SFI," and, together with USVP XII, USVP XII-A, USVP SFI, USVP SFI-A, and PMG XII, "USVP") is the general partner of USVP SFI and USVP SFI-A. The Reporting Person is a managing member of PMG XII and PMG SFI and may be deemed to share voting and dispositive power over the stock held by USVP. The Reporting Person disclaims beneficial ownership of such stock, except to the extent of any pecuniary interest therein.
F5	These shares of preferred stock are reported after giving effect to the 1-for-5.58 reverse split of the Issuer's common and preferred stock effected on July 10, 2025 (the "Reverse Split"). Each share of Series A Preferred Stock, Series B Preferred Stock, and Series C Preferred Stock is convertible into one share of the Issuer's common stock immediately prior to the closing of the Issuer's initial public offering. These shares are reported in Table II above on an as-converted 1-to-1 basis and have no expiration date.