Form 4: Calidi Biotherapeutics Director Acquires Shares Through Restricted Stock Units

Director Scott Leftwich acquired 11,684 shares of Calidi Biotherapeutics common stock through a grant of restricted stock units (RSUs) on December 31, 2024.

Summary

• On December 31, 2024, Scott Leftwich, a director of Calidi Biotherapeutics, acquired 11,684 shares of common stock.
• The acquisition was through a grant of restricted stock units (RSUs) under the company's 2023 Equity Incentive Plan.
• The RSUs fully vested on the grant date and represent a payment in lieu of cash for services during the Issuer's fourth fiscal quarter.
• Each RSU represents the right to receive one share of Calidi Biotherapeutics common stock upon vesting.
• The price per share at which the grants were issued is $1.15, based on the Issuer's closing price on December 31, 2024.
• Following the transaction, Leftwich directly owns 67,774 shares of Calidi Biotherapeutics common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transaction itself is routine and expected, but the director's increased ownership could be interpreted as a sign of confidence in the company.

Positives

• The acquisition of shares by a director can be seen as a positive sign, indicating confidence in the company's future.
• The RSUs vested immediately, aligning the director's interests with those of the shareholders.

Industry Context

This type of transaction is common for compensating directors and aligning their interests with the company's performance. Equity grants are a standard component of director compensation packages in the biotechnology industry.

Comparison to Industry Standards

• Equity compensation for board members is a common practice across the biotech industry.
• Companies like Amgen, Gilead, and Biogen also use stock options and restricted stock units to incentivize their directors.
• The size of the grant is typical for a company of Calidi Biotherapeutics' size and stage of development.

Stakeholder Impact

• The transaction could have a slightly positive impact on shareholders, as it aligns the director's interests with the company's success.
• Employees may view the equity grant as a positive sign of the company's commitment to its leadership.

Key Dates