Trill AB discloses 16.9% DiaMedica (DMAC) ownership stake

Rhea-AI Filing Summary

DiaMedica Therapeutics Inc. received an amended ownership report showing that Swedish investor Trill AB and its board member Jan Stahlberg beneficially own 8,825,742 common shares, representing 16.9% of the company.

All of these shares are reported with shared voting and shared dispositive power; neither Trill AB nor Stahlberg reports sole power to vote or dispose of any shares. The percentage is based on 52,077,439 DiaMedica common shares outstanding as of November 10, 2025, as disclosed in a recent quarterly report. The filing also certifies that the position is held on a passive basis, not for the purpose of changing or influencing control of DiaMedica.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

DiaMedica Therapeutics Inc.

(Name of Issuer)

Common Shares, no par value

(Title of Class of Securities)

25253X207

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 25253X207

1

Names of Reporting Persons

TRILL AB

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

SWEDEN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 8,825,742.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 8,825,742.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,825,742.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

16.9 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP No. 25253X207

1

Names of Reporting Persons

Jan Stahlberg

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

SWEDEN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 8,825,742.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 8,825,742.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,825,742.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

16.9 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: DiaMedica Therapeutics Inc.
(b)	Address of issuer's principal executive offices: 301 Carlson Parkway, Suite 260 Minneapolis, Minnesota 55447
Item 2.
(a)	Name of person filing: This statement is filed by the entities and persons listed below, who are collectively referred to herein as "Reporting Persons," with respect to the Common Shares (as defined in Item 2(d) below) of the Company: Record Holder Trill AB is the record holder of the Common Shares. Reporting Individual Mr. Jan Stahlberg is the Board Member and beneficial owner of Trill AB.
(b)	Address or principal business office or, if none, residence: The address of the business office of each of the Reporting Persons is: Trill AB Sveavagen 17, 18th Floor SE-111 57 Stockholm, Sweden
(c)	Citizenship: Citizenship is set forth in Row 4 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(d)	Title of class of securities: Common Shares, no par value
(e)	CUSIP No.: 25253X207
Item 4.	Ownership
(a)	Amount beneficially owned: Row 9 of each Reporting Person's cover page to this Schedule 13G sets forth the aggregate number of shares of securities of the Issuer beneficially owned by such Reporting Person as of the date of the event which requires filing of this statement and is incorporated herein by reference.
(b)	Percent of class: Row 11 of each Reporting Person's cover page to this Schedule 13G sets forth the percentages of the securities of the Issuer beneficially owned by such Reporting Person as of the date of the event which requires filing of this statement and is incorporated herein by reference. The percentages are based on 52,077,439 shares of the Issuer's Common Stock outstanding as of November 10, 2025, as reported in the Issuer's quarterly report on Form 10-Q for the quarter ended September 30, 2025, filed with the Securities and Exchange Commission ("SEC") on November 12, 2025.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(ii) Shared power to vote or to direct the vote: The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iii) Sole power to dispose or to direct the disposition of: The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iv) Shared power to dispose or to direct the disposition of: The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

TRILL AB

Signature:	/s/ Jan Stahlberg
Name/Title:	Jan Stahlberg/Board Member
Date:	02/06/2026

Jan Stahlberg

Signature:	/s/ Jan Stahlberg
Name/Title:	Jan Stahlberg
Date:	02/06/2026

FAQ

What stake in DiaMedica Therapeutics Inc. (DMAC) does Trill AB report?

Trill AB reports beneficial ownership of 8,825,742 DiaMedica common shares. This holding represents 16.9% of the company’s common shares, based on 52,077,439 shares outstanding as of November 10, 2025, as referenced in DiaMedica’s Form 10-Q.

Who are the reporting persons in this DiaMedica (DMAC) Schedule 13G/A filing?

The reporting persons are Trill AB and Jan Stahlberg. Trill AB is the record holder of the common shares, and Stahlberg is a board member and beneficial owner of Trill AB, giving him shared voting and dispositive power over the reported DiaMedica shares.

What percentage of DiaMedica (DMAC) does Trill AB’s filing represent?

The filing shows a 16.9% beneficial ownership stake in DiaMedica. This percentage is calculated using 52,077,439 DiaMedica common shares outstanding as of November 10, 2025, as reported in the company’s Form 10-Q for the quarter ended September 30, 2025.

Does Trill AB have sole or shared voting power over DiaMedica (DMAC) shares?

Trill AB and Jan Stahlberg report only shared voting power over the shares. They list 8,825,742 DiaMedica common shares with shared voting and shared dispositive power, and zero shares with sole voting or sole dispositive power in the Schedule 13G/A.

Is Trill AB’s DiaMedica (DMAC) investment intended to influence control of the company?

The filing states the shares are not held to change or influence control. The certification specifies the securities were not acquired and are not held for the purpose of influencing control of DiaMedica, consistent with a passive investment reported on Schedule 13G/A.

What share count did the DiaMedica (DMAC) 13G/A use to compute ownership percentage?

The ownership percentage is based on 52,077,439 DiaMedica common shares outstanding. This figure comes from DiaMedica’s Form 10-Q for the quarter ended September 30, 2025, which reported that share count as of November 10, 2025.