Establishment Labs Holdings Inc. files an amended Schedule 13G reporting beneficial ownership of 1,424,300 Common Shares, representing 4.9% of the class. The calculation is based on 29,057,868 Common Shares outstanding as of November 6, 2025.
The filing states that as of December 31, 2025 Mr. Juan Jose Chacon Quiros held 144,224 shares of record, had the right to acquire 151,812 shares exercisable within 60 days, and controlled 1,128,264 shares held of record by Sariel Group Ltd.
Positive
None.
Negative
None.
Insights
Registering passive ownership under 5% with exercisable options noted.
The schedule reports beneficial ownership of 1,424,300 shares (4.9%), calculated from 29,057,868 shares outstanding as of November 6, 2025. The filing discloses stock options exercisable for 151,812 shares within 60 days, which count toward beneficial ownership.
Because the stake is under 5%, the filing reflects a passive disclosure classification. Subsequent filings will show any changes in voting or disposition if Mr. Chacon Quiros or Sariel Group Ltd alters holdings or exercises options.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 7)
Establishment Labs Holdings Inc.
(Name of Issuer)
Common Shares, no par value
(Title of Class of Securities)
G31249108
(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.
G31249108
1
Names of Reporting Persons
Juan Jose Chacon Quiros
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
COSTA RICA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,424,300.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,424,300.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,424,300.00
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)
4.9 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Establishment Labs Holdings Inc.
(b)
Address of issuer's principal executive offices:
11401 Century Oaks Terrace, Suite 400, Austin, Texas, 78758
Item 2.
(a)
Name of person filing:
Juan Jose Chacon Quiros
(b)
Address or principal business office or, if none, residence:
Building 23 and 25
Coyol Free Zone
Alajuela
Costa Rica
(c)
Citizenship:
Costa Rica
(d)
Title of class of securities:
Common Shares, no par value
(e)
CUSIP No.:
G31249108
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:
As of December 31, 2025, (i) 144,224 Common Shares were held of record by Juan Jose Chacon Quiros, (ii) Mr. Chacon Quiros has the right to acquire 151,812 Common Shares within 60 days of December 31, 2025 upon the exercise of stock options and (iii) 1,128,264 Common Shares were held of record by Sariel Group Ltd, of which Mr. Chacon Quiros is a shareholder and over which he has voting and dispositive power.
(b)
Percent of class:
4.9%
The ownership percentage above is calculated based on 29,057,868 Common Shares outstanding as of November 6, 2025, as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on November 7, 2025.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
1,424,300 shares
(ii) Shared power to vote or to direct the vote:
0 shares
(iii) Sole power to dispose or to direct the disposition of:
1,424,300 shares
(iv) Shared power to dispose or to direct the disposition of:
0 shares
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
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.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
Not applicable
Item 8.
Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
Not applicable
Item 9.
Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5.
Not applicable
Item 10.
Certifications:
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.
What stake does Juan Jose Chacon Quiros report in ESTA?
He reports beneficial ownership of 1,424,300 Common Shares, equal to 4.9% of the class. This percentage is calculated using 29,057,868 shares outstanding as of November 6, 2025, and the filing is dated December 31, 2025.
How are the 1,424,300 shares composed in the Schedule 13G/A for ESTA?
The total comprises 144,224 shares held of record, 151,812 shares exercisable within 60 days, and 1,128,264 shares held of record by Sariel Group Ltd. All three components are disclosed as of December 31, 2025.
Does the Schedule 13G/A for ESTA show any shares exercisable soon?
Yes—Mr. Chacon Quiros has the right to acquire 151,812 Common Shares upon exercise of options within 60 days of December 31, 2025. Those exercisable options are included in the beneficial ownership total reported.
What outstanding share count did ESTA use to calculate the 4.9% ownership?
The filing uses 29,057,868 Common Shares outstanding as of November 6, 2025 to compute the 4.9% ownership percentage. That outstanding count is cited from the issuer's Form 10-Q filed November 7, 2025.
Is Sariel Group Ltd identified in the ESTA ownership filing?
Yes—1,128,264 Common Shares are held of record by Sariel Group Ltd, of which Mr. Chacon Quiros is a shareholder and over which he reports voting and dispositive power. This balance is included in the 1,424,300 total.
When was the Schedule 13G/A signature dated for ESTA?
The attestatory signature is dated February 13, 2026 and the ownership figures are reported as of December 31, 2025. The filing amends prior disclosures under Schedule 13G.
