American Shared chair granted 220,000-share warrant

American Shared Hospital Services executive Raymond C. Stachowiak, who is Executive Chairman and a more than 10% owner, reported the grant of a warrant to acquire 220,000 shares of common stock.

Rhea-AI Filing Summary

American Shared Hospital Services executive Raymond C. Stachowiak, who is Executive Chairman and a more than 10% owner, reported the grant of a warrant to acquire 220,000 shares of common stock. The warrant, held indirectly through RCS/TIG Holdings LLC, is exercisable at $1.45 per share and expires on July 22, 2027. The board of directors approved the grant, which is reported as exempt from Section 16(b) under Rule 16b-3(d)(1).

Insider Trade Summary

Grant/Award: 220,000 shares

Grant/Award 1 txn

Insider Stachowiak Raymond C

Role Executive Chairman

Type	Security	Shares	Price	Value
Grant/Award	Warrant (right to buy) F1	220,000	$0.00	$0.00

Holdings After Transaction: Warrant (right to buy) — 220,000 contracts (Indirect, By RCS/TIG Holdings LLC)

Footnotes (1)

1. F1. This warrant is owned directly RCS/TIG Holdings LLC ("RCS/TIG"). As the owner-manager of RCS/TIG, Mr. Raymond Stachowiak is deemed to have indirect beneficial ownership of the securities held by RCS/TIG due to his pecuniary interest therein. The grant of this warrant was approved by the board of directors of American Shared Hospital Services and is exempt from Section 16(b) of the Securities Exchange Act of 1934, as amended, pursuant to Rule 16b-3(d)(1) promulgated thereunder.

Key Figures

Warrant grant size: 220,000 warrants Exercise price: $1.45 per share Expiration date: July 22, 2027 +3 more

6 metrics

Warrant grant size 220,000 warrants Derivative security granting right to buy common stock

Exercise price $1.45 per share Price to acquire each underlying AMS common share

Expiration date July 22, 2027 Date the reported warrant expires

Underlying shares 220,000 shares Common shares underlying the reported warrant

Post-grant warrant holdings 220,000 warrants Total derivative securities held indirectly after this grant

Grant price per warrant $0.0000 Reported transaction price per derivative security

Key Terms

warrant, indirect beneficial ownership, pecuniary interest, Section 16(b), +1 more

5 terms

warrant financial

"This warrant is owned directly RCS/TIG Holdings LLC"

A warrant is a time-limited financial contract that gives its holder the right to buy a company's shares at a set price before a specified date, like a coupon that lets you purchase stock at a fixed discount for a limited time. It matters to investors because warrants offer leveraged exposure to a stock’s upside and can dilute existing shareholders if exercised, so they affect potential gains and the company’s outstanding share count.

indirect beneficial ownership financial

"is deemed to have indirect beneficial ownership of the securities"

pecuniary interest financial

"due to his pecuniary interest therein"

Section 16(b) regulatory

"is exempt from Section 16(b) of the Securities Exchange Act"

A federal rule that requires company insiders—like officers, directors and large shareholders—to return any profits made from buying and selling the company’s stock within a six-month window. It matters to investors because it discourages short-term trades that could exploit non-public information and helps protect outside shareholders by creating a simple, enforceable way to recover unfair gains, much like a rule stopping someone from flipping a limited-edition item for quick profit after getting early access.

Rule 16b-3(d)(1) regulatory

"pursuant to Rule 16b-3(d)(1) promulgated thereunder"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did AMS report for Raymond C. Stachowiak?

American Shared Hospital Services reported that Raymond C. Stachowiak received a warrant grant for 220,000 shares of common stock. This is an indirect derivative award, not an open-market stock purchase or sale.

How many AMS shares are covered by the new warrant grant?

The warrant covers 220,000 shares of American Shared Hospital Services common stock. After this grant, the reporting person’s indirect holdings of this warrant total 220,000 derivative securities, all tied to the same number of underlying shares.

What are the key terms of Raymond Stachowiak’s AMS warrant?

The warrant allows the holder to buy 220,000 AMS common shares at an exercise price of $1.45 per share. It carries an expiration date of July 22, 2027, after which any unexercised portion will lapse.

How is ownership of the AMS warrant attributed for Raymond Stachowiak?

The warrant is held by RCS/TIG Holdings LLC, and Stachowiak is deemed to have indirect beneficial ownership through his pecuniary interest as owner-manager. The Form 4 classifies the position as indirect ownership.

Was the AMS warrant grant to Raymond Stachowiak board-approved and exempt under Section 16(b)?

Yes. The warrant grant was approved by the board of directors of American Shared Hospital Services and is reported as exempt from Section 16(b) pursuant to Rule 16b-3(d)(1) under the Securities Exchange Act.

Was Raymond Stachowiak’s AMS warrant grant under a Rule 10b5-1 trading plan?

No. The Form 4’s Rule 10b5-1 checkbox is marked false, indicating this derivative award is not being reported as made under a pre-arranged Rule 10b5-1 trading plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 07/24/2026 - 04:07 PM Accepted by SEC EDGAR 07/24/2026 - 04:06 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Stachowiak Raymond C

(Last) (First) (Middle)

601 MONTGOMERY STREET

(Street)

SAN FRANCISCO CALIFORNIA 94111

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
AMERICAN SHARED HOSPITAL SERVICES [ AMS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chairman

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/22/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrant (right to buy)	$1.45	07/22/2026		A		220,000		07/22/2026	07/22/2027	Common Stock	220,000	$0	220,000	I	By RCS/TIG Holdings LLC(1)

Explanation of Responses:

1. This warrant is owned directly RCS/TIG Holdings LLC ("RCS/TIG"). As the owner-manager of RCS/TIG, Mr. Raymond Stachowiak is deemed to have indirect beneficial ownership of the securities held by RCS/TIG due to his pecuniary interest therein. The grant of this warrant was approved by the board of directors of American Shared Hospital Services and is exempt from Section 16(b) of the Securities Exchange Act of 1934, as amended, pursuant to Rule 16b-3(d)(1) promulgated thereunder.

	/s/ Craig Tagawa on behalf of Raymond C. Stachowiak	07/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)