# EDGAR Filing Document

**Accession Number:** 0001794546
**File Stem:** 0001193125-26-071596
**Filing Date:** 2026-2
**Character Count:** 17396
**Document Hash:** 89083dc53dbc7c9e772889e6996dc1ac
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-071596.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0001193125-26-071596

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 16

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**EFFECTIVENESS DATE**: 20260225

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CARLSMED, INC.
- **CENTRAL INDEX KEY:** 0001794546
- **STANDARD INDUSTRIAL CLASSIFICATION:** SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 831081863
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-293734
- **FILM NUMBER:** 26678769

**BUSINESS ADDRESS:**
- **STREET 1:** 1800 ASTON AVENUE
- **STREET 2:** SUITE 100
- **CITY:** CARLSBAD
- **STATE:** CA
- **ZIP:** 92008
- **BUSINESS PHONE:** 858-295-9290

**MAIL ADDRESS:**
- **STREET 1:** 1800 ASTON AVENUE
- **STREET 2:** SUITE 100
- **CITY:** CARLSBAD
- **STATE:** CA
- **ZIP:** 92008

**As filed with the Securities and Exchange Commission on February 25, 2026** 

**Registration No. 333-** 

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**FORM S-8** 

**REGISTRATION STATEMENT** 

***UNDER THE*** 

***SECURITIES ACT OF 1933*** 

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**Carlsmed, Inc.** 

**(Exact name of registrant as specified in its charter)** 

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| | |
|:---|:---|
| **Delaware** | **83-1081863** |
| **(State or other jurisdiction of**<br>**incorporation or organization)** | **(IRS Employer**<br>**Identification Number)** |
| **1800 Aston Ave, Suite 100**<br>**Carlsbad, California**  | **92008** |
| **(Address of principal executive offices)** | **(Zip code)** |

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**Carlsmed, Inc. 2025 Equity Incentive Plan** 

**Carlsmed, Inc. 2025 Employee Stock Purchase Plan** 

**(Full title of the plan)** 

**Michael Cordonnier**

**Chairman, Chief Executive Officer, President and Co-Founder**

**Carlsmed, Inc.** 

**1800 Aston Ave, Suite 100** 

**Carlsbad, California 92008**

**(Name and address of agent for service)** 

**(760) 766-1923** 

**(Telephone number, including area code, of agent for service)** 

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***Copies to:*** 

**H. Thomas Felix**

**R. John Hensley**

**James M. Krenn** 

**Morrison & Foerster LLP** 

**12531 High Bluff Drive, Suite 200** 

**San Diego, California 92130** 

**(858) 720-5100** 

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Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

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| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
|  |  | Emerging growth company | ☒ |

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☒

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**REGISTRATION OF ADDITIONAL SHARES** 

**PURSUANT TO GENERAL INSTRUCTION E OF FORM S-8** 

**EXPLANATORY NOTE**

This Registration Statement is filed by Carlsmed, Inc. (the "Registrant") for the purpose of registering (i) 1,333,212 additional shares of the Registrant's common stock, par value $0.00001 per share ("Common Stock") available for issuance under the Carlsmed, Inc. 2025 Equity Incentive Plan (the "Plan") pursuant to the "evergreen" provision of the Plan and (ii) 266,642 additional shares of Common Stock available for sale and issuance under the Carlsmed, Inc. 2025 Employee Stock Purchase Plan (the "ESPP") pursuant to the "evergreen" provision of the ESPP. The "evergreen" provisions of the Plan and the ESPP provide that the maximum amount of shares of Common Stock authorized under the Plan and the ESPP will be increased on January 1 of each year by a number equal to five percent (5%) and one percent (1%), respectively, of the total number of shares of Common Stock outstanding on December 31st of the immediately preceding calendar year. In accordance with General Instruction E of Form S-8, this Registration Statement hereby incorporates by reference the contents of the Registration Statements on Form S-8 (File No. 333-288915) filed by the Registrant with the Securities and Exchange Commission (the "Commission") on July 24, 2025 relating to the Plan and the ESPP.

**PART I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

Not required to be filed with this Registration Statement.

**PART II**

**INFORMATION REQUIRED IN REGISTRATION STATEMENT**

**Item 8. Exhibits.** 

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 4.1 | [<u>Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K dated July 24, 2025 (File No. 001-42756)).</u>](https://www.sec.gov/Archives/edgar/data/1794546/000095017025098327/carl-ex3_1.htm) |
| 4.2 | [<u>Amended and Restated Bylaws of the Registrant (incorporated by reference to Exhibit 3.2 to the Registrant's Current Report on Form 8-K dated July 24, 2025 (File No. 001-42756)).</u>](https://www.sec.gov/Archives/edgar/data/1794546/000095017025098327/carl-ex3_2.htm) |
| 4.3# | [<u>2025 Equity Incentive Plan (incorporated by reference to Exhibit 10.6 to the Registrant's Quarterly Report on Form 10-Q filed on August 28, 2025 (File No. 001-42756)).</u>](https://www.sec.gov/Archives/edgar/data/1794546/000095017025111953/carl-ex10_6.htm) |
| 4.4#<br>| [<u>2025 Employee Stock Purchase Plan (incorporated by reference to Exhibit 10.7 to the Registrant's Quarterly Report on Form 10-Q filed on August 28, 2025 (File No. 001-42756).</u>](https://www.sec.gov/Archives/edgar/data/1794546/000095017025111953/carl-ex10_7.htm) |
| 4.5#<br>| [<u>Form of Option Award Agreement under the 2025 Equity Incentive Plan (incorporated by reference to Exhibit 10.8 to the Registrant's Registration Statement on Form S-1/A (File No. 333-288339)).</u>](https://www.sec.gov/Archives/edgar/data/1794546/000095017025095710/carl-ex10_8.htm) |
| 4.6#<br>| [<u>Form of RSU Award Agreement under the 2025 Equity Incentive Plan (incorporated by reference to Exhibit 10.9 to the Registrant's Registration Statement on Form S-1/A (File No. 333-288339)).</u>](https://www.sec.gov/Archives/edgar/data/1794546/000095017025095710/carl-ex10_9.htm) |
| 4.7# | [<u>Form of PSU Award Agreement under the 2025 Equity Incentive Plan (incorporated by reference to Exhibit 10.22 to the Registrant's Annual Report on Form 10-K filed on February 25, 2026 (File No. 001-42756).</u>](https://www.sec.gov/Archives/edgar/data/1794546/000119312526071551/carl-ex10_22.htm) |
| 5.1\* | [<u>Opinion of Morrison & Foerster LLP.</u>](carl-ex5_1.htm) |
| 23.1\* | [<u>Consent of Independent Registered Accounting Firm.</u>](carl-ex23_1.htm) |
| 23.2\* | [<u>Consent of Morrison & Foerster LLP (included in Exhibit 5.1).</u>](carl-ex5_1.htm) |
| 24.1\* | [<u>Power of Attorney (included on the signature page to this Registration Statement).</u>](#signatures_and_power_of_attorne) |
| 107\* | [<u>Filing Fee Table.</u>](carl_exfilingfees.htm) |

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\* Filed herewith.

# Indicates management contract or compensatory plan.

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**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Carlsbad, State California, on the 25th day of February, 2026.

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| | |
|:---|:---|
| **Carlsmed, Inc.** | **Carlsmed, Inc.** |
| By: | /s/ Michael Cordonnier |
|  | Michael Cordonnier |
|  | Chief Executive Officer, President and Co-Founder |
|  | Chairman of the Board of Directors |

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**SIGNATURES AND POWER OF ATTORNEY** 

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Michael Cordonnier and Leonard Greenstein and each of them, as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments to this Registration Statement (including post-effective amendments to the Registration Statement), and to file the same, with all exhibits thereto, and any other documents in connection therewith, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

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| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Michael Cordonnier<br>Michael Cordonnier | Chairman, Chief Executive Officer, President and Co-Founder<br>(*Principal Executive Officer*) | February 25, 2026 |
| /s/ Leonard Greenstein<br>Leonard Greenstein | Chief Financial Officer<br>(*Principal Financial and Accounting Officer*) | February 25, 2026 |
| /s/ Kevin O'Boyle<br>Kevin O'Boyle | Director | February 25, 2026 |
| /s/ Niall Casey<br>Niall Casey | Director | February 25, 2026 |
| /s/ Robert Mittendorff<br>Robert Mittendorff | Director | February 25, 2026 |
| /s/ Jonathan Root<br>Jonathan Root | Director | February 25, 2026 |
| /s/ Kevin Sidow<br>Kevin Sidow | Director | February 25, 2026 |
| /s/ Philip Young<br>Philip Young | Director | February 25, 2026 |

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## Exhibit 5.1

**Exhibit 5.1**

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| | | |
|:---|:---|:---|
| ![img448658_0.gif](img448658_0.gif) | 12531 High Bluff Drive<br>Suite 200<br>San Diego<br>California 92130-3588<br>TELEPHONE: 858.720.5100<br>FACSIMILE: 858.720.5125<br>www.mofo.com | morrison & foerster llp<br>amsterdam, austin, berlin, boston, brussels, denver, hong kong, london, los angeles, miami, new york, palo alto, san diego, san francisco, Seattle, shanghai, singapore, tokyo, washington, d.c. |

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February 25, 2026

Carlsmed, Inc.

1800 Aston Avenue, Suite 120

Carlsbad, CA 92008

Re: <u>Registration Statement on Form S-8</u> 

Ladies and Gentlemen:

We are acting as counsel to Carlsmed, Inc., a Delaware corporation (the "**Company**"), in connection with its registration statement on Form S-8 (the "**Registration Statement**"), filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "**Securities Act**"), relating to the proposed offering of up to 1,599,854 shares (the "**Shares**") of the Company's common stock, $0.00001 par value per share ("**Common Stock**"), consisting of (a) 1,333,212 shares of Common Stock issuable pursuant to the Company's 2025 Equity Incentive Plan (the "**2025 Plan**"), and (b) 266,642 shares of the Common Stock issuable pursuant to the Company's 2025 Employee Stock Purchase Plan (together with 2025 Plan, the "**Plans**").

As counsel for the Company, we have examined originals or copies, certified or otherwise identified to our satisfaction, of such documents, corporate records, certificates of public officials and other instruments as we have deemed necessary for the purposes of rendering this opinion, and we are familiar with the proceedings taken and proposed to be taken by the Company in connection with the authorization, issuance and sale of the Shares. In our examination, we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals and the conformity with the originals of all documents submitted to us as copies. This opinion letter is given, and all statements herein are made, in the context of the foregoing.

This opinion letter is based as to matters of law solely on the General Corporation Law of the State of Delaware as currently in effect. We express no opinion herein as to any other laws, statutes, ordinances, rules, or regulations.

Based upon, subject to and limited by the foregoing, we are of the opinion that following (i) effectiveness of the Registration Statement, (ii) issuance of the Shares pursuant to the terms of the Plans, and (iii) receipt by the Company of the consideration for the Shares specified in the applicable resolutions of the Board of Directors of the Company or a duly authorized committee thereof and the Plans, the Shares will be validly issued, fully paid and nonassessable..

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![img448658_1.gif](img448658_1.gif)

Carlsmed, Inc.<br>February 25, 2026<br>Page Two

This opinion letter has been prepared for use in connection with the Registration Statement. We assume no obligation to advise you of any changes in the foregoing subsequent to the effective date of the Registration Statement.

We consent to the use of this opinion as an exhibit to the Registration Statement, and we consent to the reference of our name wherever appearing in the Registration Statement and any amendments thereto. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act.

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| |
|:---|
| Very truly yours, |
| /s/ Morrison & Foerster LLP |
| Morrison & Foerster LLP |

---

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## Exhibit 23.1

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the 2025 Equity Incentive Plan and 2025 Employee Stock Purchase Plan of Carlsmed, Inc. of our report dated February 25, 2026, with respect to the financial statements of Carlsmed, Inc. included in its Annual Report (Form 10-K) for the year ended December 31, 2025, filed with the Securities and Exchange Commission..

/s/ Ernst & Young LLP

San Diego, California<br>February 25, 2026

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## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

**Exhibit 107**

**Calculation of** Filing Fee **Tables**

**Form** S-8

(Form Type)

Carlsmed, Inc.

(Exact Name of Registrant as Specified in its Charter)

<u>Table 1: Newly Registered Securities</u>

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Security<br>Type<br>| Security<br>Class Title | Fee<br>Calculation<br>Rule | Proposed<br>Maximum<br>Offering<br>Price Per<br>Security | Maximum<br>Aggregate<br>Offering<br>Price | Fee<br>Rate | Amount of<br>Registration<br>Fee |
| Equity | Common stock,<br>$0.00001 par value per share, reserved for<br>future issuance under the Carlsmed, Inc.<br>2025 Equity Incentive Plan<br>| Rule 457(h)<br>1333212<sup>(2)</sup> | $11.52 | $15358602<sup>(3)</sup> | 0.00013810 | $2121.02 |
| Equity | Common stock, $0.00001 par value per share, reserved for future issuance under the Carlsmed, Inc. 2025 Employee Stock Purchase Plan | Rule 457(h)<br>266642<sup>(4)</sup> | $11.52 | $3071716<sup>(3)</sup> | 0.00013810 | $424.20 |
|  | Total Offering Amounts  | Total Offering Amounts  |  | $18430318 |  | $2545.22 |
|  | Total Fee Offsets  | Total Fee Offsets  |  |  |  |  |
|  | Net Fee Due  | Net Fee Due  |  |  |  | $2545.22 |

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(1)Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this registration statement (the "Registration Statement") shall also cover any additional shares of the Registrant's common stock, $0.00001 par value per share (the "Common Stock") that become issuable under the 2019 Stock Incentive Plan (the "2019 Plan"), the 2025 Equity Incentive Plan (the "2025 Plan") and the 2025 Employee Stock Purchase Plan (the "ESPP") by reason of any stock dividend, stock split, recapitalization or similar transaction effected without the Registrant's receipt of consideration which would increase the number of outstanding shares of Common Stock.

(2)Represents 1,333,212 shares of Common Stock reserved for future grant under the 2025 Plan, which represents shares of Common Stock that were added to the shares available for future sale and issuance under the 2025 Plan pursuant to the "evergreen" provision of the 2025 Plan.

(3)Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(h) of the Securities Act. The proposed maximum aggregate offering price per share and proposed maximum aggregate offering price are calculated based on the average of the high and low sales prices per share of Common Stock on the Nasdaq Stock Market LLC on February 18, 2026.

(4)Represents 266,642 shares of Common Stock reserved for future grant under the 2025 ESPP, which represents shares of Common Stock that were added to the shares available for future sale and issuance under the ESPP pursuant to the "evergreen" provision of the ESPP.

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