JW entities trim Establishment Labs (ESTA) stake with 60K-share sale

Rhea-AI Filing Summary

ESTABLISHMENT LABS HOLDINGS INC. had 60,000 Common Shares sold in an open-market transaction on May 6, 2026, by investment entities associated with JW Asset Management. The sale occurred at an average price of $75.625 per share and was executed indirectly through JW Partners, LP and JW Opportunities Fund, LLC.

After this sale, the reporting group collectively held 3,001,694 Common Shares indirectly. JW Asset Management, LLC, JW GP, LLC and Jason G. Wild each disclaim beneficial ownership of these securities except to the extent of any indirect pecuniary interest.

Insider Trade Summary

Net Seller: 60,000 shares ($4,537,500)

Net Sell 1 txn

Insider JW Asset Management, LLC, JW Partners, LP, JW Opportunities Fund, LLC, JW GP, LLC, Wild Jason G.

Role null | null | null | null | null

Sold 60,000 shs ($4.54M)

Type	Security	Shares	Price	Value
Sale	Common Shares	60,000	$75.625	$4.54M

Holdings After Transaction: Common Shares — 3,001,694 shares (Indirect, See Footnotes)

Footnotes (1)

1. This Form 4 is being filed by JW Asset Management, LLC (the "Advisor") on behalf of itself and JW Partners, LP ("JWP"), JW Opportunities Fund, LLC ("JWO"), JW GP, LLC (the "General Partner"), and Jason G. Wild ("Wild" and, together with the Advisor, JWP, JWO, and the General Partner, the "Reporting Persons"). The Advisor serves as the investment advisor of JWP and JWO. The General Partner serves as general partner to JWP and the manager of JWO. Wild is the managing member of the Advisor and the General Partner. The amount of 60,000 in Table I reflects the 44,755 Common Shares sold by JWP and the 15,245 Common Shares sold by JWO, in the open market transaction requiring the filing of this statement. In accordance with Instruction 4(b)(iv) of Form 4, the entire amount of the Issuer's securities held by the Reporting Persons is reported herein. Each of the Advisor, Wild and the General Partner, disclaims, for purposes of Section 16 of the Securities Exchange Act of 1934, beneficial ownership of such securities, except to the extent of its or his indirect pecuniary interest therein, and this report shall not be deemed an admission that either the Advisor, Wild or the General Partner are the beneficial owner of such securities for purposes of Section 16 or for any other purposes.

Key Figures

Shares sold: 60,000 shares Sale price per share: $75.625 per share Post-transaction holdings: 3,001,694 shares +2 more

5 metrics

Shares sold 60,000 shares Common Shares sold on May 6, 2026

Sale price per share $75.625 per share Open-market transaction

Post-transaction holdings 3,001,694 shares Indirect Common Shares held after sale

JW Partners, LP portion sold 44,755 shares Part of 60,000-share sale

JW Opportunities Fund, LLC portion sold 15,245 shares Part of 60,000-share sale

Key Terms

open market transaction, Form 4, indirect pecuniary interest, Section 16 of the Securities Exchange Act of 1934, +1 more

5 terms

open market transaction financial

"Common Shares sold by JWP and the 15,245 Common Shares sold by JWO, in the open market transaction requiring the filing"

An open market transaction is a buy or sell of publicly traded securities executed on an exchange or other public trading venue where many buyers and sellers can participate. It matters to investors because these trades change the visible supply and demand for a stock—like shoppers moving prices in a busy marketplace—affecting share price, liquidity (how easily you can trade), and sometimes the balance of ownership.

Form 4 regulatory

"This Form 4 is being filed by JW Asset Management, LLC"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

indirect pecuniary interest financial

"disclaims, for purposes of Section 16 ... beneficial ownership of such securities, except to the extent of its or his indirect pecuniary interest therein"

Section 16 of the Securities Exchange Act of 1934 regulatory

"for purposes of Section 16 of the Securities Exchange Act of 1934, beneficial ownership of such securities"

A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.

investment advisor financial

"The Advisor serves as the investment advisor of JWP and JWO."

An investment advisor is a person or firm that provides personalized guidance on buying, selling and managing investments and often oversees client portfolios for a fee. For investors this matters because the advisor shapes risk, costs and long-term returns, and is typically required by law to act in the client’s best interests — think of them as a financial coach or GPS that helps navigate choices and avoid costly detours.

Form 4 Insider Transactions: What Each Field Means →

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^*

JW Asset Management, LLC

(Last) (First) (Middle)

1051 N. VENETIAN DRIVE

(Street)

MIAMI BEACH FLORIDA 33139

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ESTABLISHMENT LABS HOLDINGS INC. [ ESTA ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/06/2026

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

	Form filed by One Reporting Person
X	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
Common Shares	05/06/2026		S		60,000	D	$75.625	3,001,694	I	See Footnotes(1)(2)

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

1. Name and Address of Reporting Person^*

JW Asset Management, LLC

(Last) (First) (Middle)

1051 N. VENETIAN DRIVE

(Street)

MIAMI BEACH FLORIDA 33139

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

JW Partners, LP

(Last) (First) (Middle)

1051 N. VENETIAN DRIVE

(Street)

MIAMI BEACH FLORIDA 33139

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

JW Opportunities Fund, LLC

(Last) (First) (Middle)

1051 N. VENETIAN DRIVE

(Street)

MIAMI BEACH FLORIDA 33139

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

JW GP, LLC

(Last) (First) (Middle)

1051 N. VENETIAN DRIVE

(Street)

MIAMI BEACH FLORIDA 33139

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Wild Jason G.

(Last) (First) (Middle)

1051 N. VENETIAN DRIVE

(Street)

MIAMI BEACH FLORIDA 33139

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. This Form 4 is being filed by JW Asset Management, LLC (the "Advisor") on behalf of itself and JW Partners, LP ("JWP"), JW Opportunities Fund, LLC ("JWO"), JW GP, LLC (the "General Partner"), and Jason G. Wild ("Wild" and, together with the Advisor, JWP, JWO, and the General Partner, the "Reporting Persons"). The Advisor serves as the investment advisor of JWP and JWO. The General Partner serves as general partner to JWP and the manager of JWO. Wild is the managing member of the Advisor and the General Partner.

2. The amount of 60,000 in Table I reflects the 44,755 Common Shares sold by JWP and the 15,245 Common Shares sold by JWO, in the open market transaction requiring the filing of this statement. In accordance with Instruction 4(b)(iv) of Form 4, the entire amount of the Issuer's securities held by the Reporting Persons is reported herein. Each of the Advisor, Wild and the General Partner, disclaims, for purposes of Section 16 of the Securities Exchange Act of 1934, beneficial ownership of such securities, except to the extent of its or his indirect pecuniary interest therein, and this report shall not be deemed an admission that either the Advisor, Wild or the General Partner are the beneficial owner of such securities for purposes of Section 16 or for any other purposes.

Remarks:

Exhibit 99 - Information Regarding Joint Filers.

	JW Asset Management, LLC /s/ Jason Klarreich, Attorney-In-Fact	05/08/2026
	** 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)

FAQ

What insider transaction did ESTABLISHMENT LABS (ESTA) report?

ESTABLISHMENT LABS reported an insider-related sale of 60,000 Common Shares. The shares were sold in an open-market transaction by affiliated investment entities advised by JW Asset Management at an average price of $75.625 per share.

Who executed the 60,000-share sale in ESTABLISHMENT LABS (ESTA)?

The 60,000-share sale was executed by JW Partners, LP and JW Opportunities Fund, LLC. These entities are advised and managed by JW Asset Management and related entities, which are collectively identified as the reporting persons in the Form 4.

At what price were the ESTABLISHMENT LABS (ESTA) shares sold?

The Common Shares of ESTABLISHMENT LABS were sold at an average price of $75.625 per share. This price reflects the open-market transaction that triggered the Form 4 filing for the reporting investment entities.

How many ESTABLISHMENT LABS (ESTA) shares do the reporting persons hold after the sale?

Following the sale, the reporting group collectively held 3,001,694 Common Shares indirectly. This figure reflects the total issuer securities held by the reporting persons as required to be reported under the Form 4 instructions.

How was the 60,000-share ESTABLISHMENT LABS (ESTA) sale split between entities?

Of the 60,000 Common Shares sold, 44,755 were sold by JW Partners, LP and 15,245 were sold by JW Opportunities Fund, LLC. Both sales were open-market transactions requiring disclosure in this Form 4 filing.

Do JW Asset Management and Jason G. Wild claim full beneficial ownership of the ESTABLISHMENT LABS (ESTA) shares?

JW Asset Management, JW GP, LLC and Jason G. Wild each disclaim beneficial ownership of the ESTABLISHMENT LABS securities. They do so except to the extent of any indirect pecuniary interest, as noted under Section 16-related disclosure language.