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AI brief of an SEC Form 8-K · CARLSMED, INC. (CARL)

Carlsmed names Richard Heppenstall CFO as Leo Greenstein departs; guidance reaffirmed

Neutral Impact 4 of 5 leadership Written later

Carlsmed said CFO Leo Greenstein left the role effective September 25, 2026, and appointed Richard Heppenstall as CFO effective September 28, 2026. Greenstein's separation includes $500,000 in cash severance, accelerated vesting of some equity awards, and a $60,000 advisory fee through December 31, 2026. The company reaffirmed its full-year 2026 revenue guidance of $74 million to $78 million, so the leadership change did not come with a change to that outlook.

Key points

  • Greenstein's departure effective September 25, 2026; Heppenstall's appointment effective September 28, 2026.
  • Greenstein to receive $500,000 in cash payments, equal to 12 months of base salary, plus a $60,000 advisory fee.
  • Heppenstall's employment agreement sets a $500,000 base salary and a target bonus of 60% of base, with $1.4 million each in inducement stock options and RSUs.
  • Full-year 2026 revenue guidance of $74 million to $78 million was reaffirmed.

The filing

CompanyCARLSMED, INC. (CARL)
Form8-K, current report
Filed with the SECSep 30, 2026, 9:15 AM ET
Accession number0001794546-26-000020

Items reported: 5.02 Director / Officer Change7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 11:43 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 30, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.