Carlsmed names Richard Heppenstall CFO as Leo Greenstein departs; FY2026 revenue guidance of $74-$78 million reaffirmed

CARLSMED, INC.

Carlsmed appointed Richard Heppenstall, 55, as CFO effective September 28, 2026; he was previously CFO of ZimVie Inc. until its October 2025 acquisition by ArchiMed SAS.
Leo Greenstein departed as CFO effective September 25, 2026, receiving $500,000 in cash severance (12 months of base salary), a pro-rated 2026 bonus, and up to 12 months of COBRA premiums.
Greenstein also received accelerated vesting of 32,856 restricted shares, 19,176 option shares, 26,786 shares of the 2025 Option (44,643 vested total), and 11,244 RSUs.
Heppenstall's employment agreement sets a $500,000 base salary, a 60% target bonus, and $1,400,000 each in inducement stock options and RSUs; relocation reimbursement is capped at $150,000.
Carlsmed reaffirmed full-year 2026 revenue guidance of $74 to $78 million, representing 50% growth over 2025 at the midpoint, and noted aprevo Lumbar CMS reimbursement starting October 1.

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