Welcome to our dedicated page for Amer Shared Hosp SEC filings (Ticker: AMS), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
American Shared Hospital Services filings document an operating company focused on stereotactic radiosurgery equipment and advanced radiation therapy services. Its 8-K reports cover quarterly financial results, proton beam radiation therapy lease amendments, credit agreement matters, indebtedness classification, and executive officer changes.
Proxy materials describe board governance, executive compensation, equity award practices, insider trading policy references, and pay-versus-performance disclosures. The filing record also ties financing and corporate governance disclosures to the company's leasing agreements, direct patient care operations, and subsidiaries involved in radiation therapy financing and services.
American Shared Hospital Services insider Raymond C. Stachowiak filed an amended Schedule 13D reporting beneficial ownership of 2,220,205 shares of common stock, or 33.0% of the company, held directly and through affiliated entities RCS Investments, Stachowiak Equity Fund, and RCS/TIG Holdings.
The filing details grants of 110,000 restricted stock units in 2025 and 100,000 in 2026, of which 160,000 underlying shares are counted because they have vested or will vest within 60 days of the filing date. It also reports that on June 22, 2026, RCS/TIG purchased 586,468 shares in a private transaction at $2.28 per share, for a total of $1,319,553. The shares are described as held for investment purposes, and the reporting persons state they may increase or decrease their position over time.
AMERICAN SHARED HOSPITAL SERVICES Executive Chairman Raymond C. Stachowiak, a more than 10% owner, reported a large indirect open-market purchase of the company’s common stock. On June 22, 2026, entity RCS/TIG Holdings LLC, associated with Stachowiak, bought 586,468 shares of common stock at $2.28 per share in a private open-market style transaction, bringing its holdings to 586,468 shares.
The filing also updates Stachowiak’s other positions: 760,559 shares are held indirectly through Stachowiak Equity Fund LLC, 752,500 shares are held indirectly through RCS Investments, Inc., and 180,678 shares are held directly. A footnote notes that on May 14, 2026, he transferred 594,000 directly owned shares to RCS Investments, Inc., reorganizing part of his ownership into that entity.
American Shared Hospital Services disclosed that reporting persons TIGH II, LLC and Anita G. Zucker no longer own any of the company’s common stock. On June 22, 2026, TIGH II sold all 586,468 shares it held in a private transaction to RCS/TIG Holdings, LLC, an entity affiliated with the company’s executive chairman, at $2.28 per share for total consideration of $1,337,147. Following this sale, both TIGH II and Mrs. Zucker report 0% beneficial ownership and have ceased to be holders of 5% or more of the outstanding shares.
American Shared Hospital Services reported that its lender, Fifth Third Bank, has issued a notice declaring multiple Events of Default under the company’s Credit Agreement. The defaults include failing to maintain unrestricted cash and equivalents of at least $5,000,000 as of September 30, 2025, breaching financial covenants as of December 31, 2025, missing a required compliance certificate for the quarter ended March 31, 2026, and not repaying term loan obligations due April 9, 2026. As a result, interest on advances has increased to the Default Rate, which adds 2% per year to the existing applicable margin. The lender has reserved all rights, including accelerating all obligations and enforcing on collateral, and the company states it would not have enough cash on hand to satisfy accelerated payments, though acceleration has not yet occurred.
American Shared Hospital Services reported first-quarter 2026 revenue of $7,084,000, up from $6,112,000 a year earlier, driven mainly by growth in direct patient services and higher proton beam volumes. The company still posted a net loss attributable to shareholders of $612,000, or $0.09 per share. Management disclosed covenant breaches and nonpayment of all amounts due at the April 2026 maturity of its $22,000,000 credit agreement, and warned that these issues raise substantial doubt about its ability to continue as a going concern.
American Shared Hospital Services reported first quarter 2026 revenue of $7.1 million, up 15.9% from $6.1 million a year earlier, driven mainly by higher direct patient services. Gross margin rose to $1.3 million, or 18.2%, compared with $0.9 million, or 15.4%, reflecting better utilization and mix.
The company still posted a net loss attributable to American Shared Hospital Services of $0.6 million, or $0.09 per diluted share, similar to the prior year’s $0.10 loss per share, but operating loss narrowed. Adjusted EBITDA increased 18.4% to $1.1 million. Cash, cash equivalents, and restricted cash increased to $5.2 million as of March 31, 2026, while management highlighted growing treatment volumes at its Rhode Island and Puebla centers and continued focus on optimizing its capital structure.
American Shared Hospital Services is holding its 2026 annual shareholder meeting virtually on June 24, 2026. Shareholders of record as of April 27, 2026, when 6,627,466 common shares were outstanding, can vote on four key items.
Investors will elect four directors (Daniel G. Kelly Jr., Kathleen Miles, Raymond C. Stachowiak and Vicki L. Wilson), cast a non-binding advisory vote on 2025 executive compensation, approve an amendment and restatement of the Incentive Compensation Plan, and ratify Baker Tilly US, LLP as independent auditor. The board recommends voting “FOR” all proposals.
The proxy details governance practices, including independent committee structures, an insider trading and hedging policy, and an October 2024 compensation recoupment policy. It also explains the Variable Compensation Plan and equity incentives, and seeks to extend the Incentive Compensation Plan’s term by five years to February 22, 2032 without increasing the 2,580,000-share authorization.
American Shared Hospital Services announced that CEO Gary Delanois resigned for personal reasons, effective April 24, 2026. The board appointed long-time executive Craig K. Tagawa, currently President, as interim CEO effective April 27, 2026, and he will retain his President role.
To reflect his expanded responsibilities, Mr. Tagawa’s base salary will increase from $265,000 to $325,000, and his 2026 target performance bonus under the company’s variable compensation plan will rise from 40% to 50% of base salary. The company states there are no family relationships or related-party transactions requiring disclosure involving Mr. Tagawa.
Stachowiak Raymond C reported acquisition or exercise transactions in this Form 4 filing.
American Shared Hospital Services Executive Chairman Raymond C. Stachowiak received an award of 100,000 Restricted Stock Units, each convertible into one share of Common Stock upon vesting. The units vest in four equal installments of 25,000 on April 1, 2026, July 1, 2026, October 1, 2026, and January 1, 2027.
After this award, he holds 774,678 shares of Common Stock directly, and also reports indirect holdings of 158,500 shares through RCS Investments, Inc. and 760,559 shares through Stachowiak Equity Fund.