EBR Systems: H.E.S.T. Australia reports 6.5% stake

The reported interests include common stock represented by CDIs, trust-held positions, and shares issuable under warrants.

Available on EDGAR 11/02/2026 - 08:39 AM EST Accepted by SEC EDGAR 11/02/2026 - 08:39 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

EBR Systems, Inc. is the issuer whose shares H.E.S.T. Australia Ltd. reported beneficially owning: 5,542,312.10 shares, or 6.5% of the class. H.E.S.T. Australia Ltd. reported sole voting and dispositive power over 1,634,387.40 shares and shared voting and dispositive power over 3,907,924.70 shares.

The reported interests include common stock underlying CDIs held by H.E.S.T. Australia Ltd. as trustee for HESTA and by MRCF3 Trust and BCP Trust; they also include 307,226 shares issuable upon exercise of warrants held for MRCF3 Trust. Under management arrangements, H.E.S.T. Australia Ltd. may be deemed to share voting and investment power over trust-held securities and is the sole unitholder in both trusts. Bruce Cooper signed as attorney-in-fact.

Key Figures

Beneficial ownership: 5,542,312.10 shares Percent of class: 6.5% Sole voting and dispositive power: 1,634,387.40 shares +3 more

6 metrics

Beneficial ownership 5,542,312.10 shares Reported by H.E.S.T. Australia Ltd.

Percent of class 6.5% Reported beneficial ownership

Sole voting and dispositive power 1,634,387.40 shares Common stock

Shared voting and dispositive power 3,907,924.70 shares Common stock

Shares underlying H.E.S.T. Australia-held CDIs 16,343,874 CDIs Held by H.E.S.T. Australia Ltd. as trustee for HESTA

Shares issuable upon exercise of warrants 307,226 shares Warrants held by MRCF3 Service on trust for MRCF3 Trust

Key Terms

CHESS Depositary Interests, beneficially owned, Shared Voting Power, issuable upon exercise

4 terms

CHESS Depositary Interests financial

"underlying 16,343,874 CHESS Depositary Interests ("CDIs")"

CHESS depositary interests are tradable certificates used on the Australian settlement system that represent ownership of underlying foreign shares held by a custodian. They let investors buy and sell foreign-listed stocks on the local exchange as if they were domestic shares, simplifying trading, dividend collection and record-keeping, though they may involve custodian fees and can alter certain direct shareholder rights and tax treatments.

beneficially owned financial

"Amount beneficially owned: 5,542,312.10"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Shared Voting Power financial

"Shared Voting Power 3,907,924.70"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

issuable upon exercise financial

"shares of common stock issuable upon exercise of certain warrants"

FAQ

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

How many EBR Systems (EBRCZ) shares did H.E.S.T. Australia report?

H.E.S.T. Australia Ltd. reported beneficial ownership of 5,542,312.10 shares, or 6.5% of the class.

What securities make up H.E.S.T. Australia’s reported EBR Systems (EBRCZ) position?

The reported interests include 1,634,387.40 common shares underlying 16,343,874 CDIs held by H.E.S.T. Australia Ltd. as trustee for HESTA. Shared interests include 1,587,540.80 common shares underlying 15,875,408 CDIs and 307,226 warrant shares held for MRCF3 Trust, plus 2,013,157.90 common shares underlying 20,131,579 CDIs held for BCP Trust.

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

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

EBR Systems, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

000000000

(CUSIP Number)

09/30/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 000000000

1

Names of Reporting Persons

H.E.S.T. Australia Ltd.

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

AUSTRALIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,634,387.40
6	Shared Voting Power 3,907,924.70
7	Sole Dispositive Power 1,634,387.40
8	Shared Dispositive Power 3,907,924.70

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,542,312.10

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)

6.5 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Rows 5 and 7 consist of 1,634,387.40 shares of common stock, par value $0.0001 per share ("common stock"), underlying 16,343,874 CHESS Depositary Interests ("CDIs") of EBR Systems, Inc. (the "Issuer") held by H.E.S.T. Australia Ltd. (the "Reporting Person"), as trustee for HESTA. The CDIs are held by CHESS Depositary Nominees Pty Limited, a subsidiary of ASX Limited. Rows 6 and 8 consist of (i) 1,587,540.80 shares of common stock underlying 15,875,408 CDIs held by MRCF3 Service (H) Pty Ltd ("MRCF3 Service") on trust for MRCF3 (H) Trust ("MRCF3 Trust"), (ii) 307,226 shares of common stock issuable upon exercise of certain warrants held by MRCF3 Service on trust for the MRCF3 Trust, and (iii) 2,013,157.90 shares of common stock underlying 20,131,579 CDIs held by BB6 Service (H) Coinvestment Trusco Pty Ltd ("BB6 Service") on trust for BCP HESTA Co-Investment Trust ("BCP Trust"). MRCF3 Service is the trustee of MRCF3 Trust. Pursuant to a Part B Management Agreement, dated April 22, 2015, among MRCF3 Service, BCP3 Pty Ltd and the Reporting Person, the Reporting Person may be deemed to share voting and investment power with respect to the CDIs and shares of common stock issuable upon exercise of certain warrants held by MRCF3 Trust. BB6 Service is the trustee of BCP Trust. Pursuant to a Management Deed, dated May 17, 2024, among BCP4 Pty Ltd and BB6 Service, the Reporting Person may be deemed to share voting and investment power with respect to the CDIs held by BCP Trust. The Reporting Person is the sole unitholder in each of MRCF3 Trust and BCP Trust. Row 11 is based on the sum of (i) 75,335,559 shares of common stock outstanding (equivalent to 753,355,590 CDIs) as of August 11, 2026, as disclosed in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 11, 2026, (ii) 9,210,527 shares of common stock issued on August 21, 2026, and (iii) 307,226 shares of common stock issuable upon exercise of the warrants described above.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: EBR Systems, Inc.
(b)	Address of issuer's principal executive offices: 480 Oakmead Parkway, Sunnyvale, CA 94085
Item 2.
(a)	Name of person filing: H.E.S.T. Australia Ltd.
(b)	Address or principal business office or, if none, residence: Level 20, 2 Lonsdale Street, Melbourne, Victoria, 3000
(c)	Citizenship: Australia
(d)	Title of class of securities: Common Stock, par value $0.0001 per share
(e)	CUSIP No.: 000000000
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 5,542,312.10
(b)	Percent of class: 6.5%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,634,387.40
	(ii) Shared power to vote or to direct the vote: 3,907,924.70
	(iii) Sole power to dispose or to direct the disposition of: 1,634,387.40
	(iv) Shared power to dispose or to direct the disposition of: 3,907,924.70
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.

H.E.S.T. Australia Ltd.

Signature:	/s/ Bruce Cooper
Name/Title:	Bruce Cooper, Attorney-in-Fact
Date:	11/02/2026