Form 4: Director Sells CLDI Shares for Estate Planning

Calidi Biotherapeutics Director Allan Camaisa sold 850 shares of common stock for $1.455 per share for estate and tax planning purposes.

Summary

• Allan Camaisa, a Director of Calidi Biotherapeutics, Inc. (CLDI), reported a sale of common stock.
• The transaction involved the disposition of 850 shares of Common Stock on December 12, 2025.
• The shares were sold at a price of $1.455 per share.
• The sale was conducted by AJC Capital, LLC for estate and tax planning purposes.
• Following the transaction, Allan Camaisa's beneficial ownership stands at 76,952 shares, held directly and indirectly through AJC Capital, LLC and Jamir Trust.
• All share and share-related information gives retrospective effect to a 1-for-12 reverse stock split effective on August 4, 2025.
• Beneficial ownership also includes 1,526 shares from vested options and 3,915 shares from warrants held by Mr. Camaisa, and 22,887 shares from vested options held by AJC, all exercisable within 60 days.

Sentiment

Score: 5

Explanation: The filing reports a director's sale of shares for estate and tax planning, which is generally considered a neutral event. It does not indicate positive or negative company performance.

Negatives

• A director's sale of shares, even for stated personal reasons, can sometimes be perceived negatively by investors.

Management Comments

• The sales reported were effected for estate and tax planning purposes by AJC Capital, LLC.

Industry Context

This filing is a routine insider transaction report and does not provide information relevant to broader industry trends or competitive landscape.

Related Party Transactions

• Allan Camaisa, the reporting person, is the sole managing member and owner of AJC Capital, LLC and the sole trustee of Jamir Trust, through which a significant portion of his beneficial ownership is held.
• The reported sale of 850 shares was effected by AJC Capital, LLC, an entity controlled by Allan Camaisa.

Stakeholder Impact

• Shareholders may note a director's sale, but the stated reason (estate and tax planning) often mitigates concerns about company performance or outlook.

Key Dates

Keywords

Calidi Biotherapeutics, CLDI, Allan Camaisa, Director, Stock Sale, Form 4, Beneficial Ownership, Insider Transaction, Estate Planning