secwatch.observer — SEC 8-K summary
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Issuer:     CARLSMED, INC. (CARL)
CIK:        0001794546
Form:       8-K
Filed at:   2026-09-30T13:15:14+00:00
Accession:  0001794546-26-000020
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1794546/000179454626000020/0001794546-26-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1794546/000179454626000020/carl-20260924.htm
  HTML page:      https://secwatch.observer/filing/0001794546-26-000020

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