Finance shakeup at Picard Medical (PMI) as CFO departs and new CAO named

Rhea-AI Filing Summary

Picard Medical, Inc. reported a leadership change in its finance organization effective June 1, 2026. Bernard Skaggs was terminated as Chief Financial Officer, effective immediately. The Board appointed Georgina Smith, 54, as Chief Accounting Officer on the same date, adding senior oversight to the Company’s accounting and reporting functions.

Smith previously served as Controller of SynCardia Systems, LLC, a Picard Medical subsidiary, from January 2026 to May 2026, and earlier held senior accounting roles at Rain Bird Corporation and Tucson Electric Power. She holds both MBA and accounting degrees from the University of Arizona and is a Certified Public Accountant in Arizona. The Company states there are no special arrangements tied to her selection and no related party transactions requiring disclosure.

Positive

• None.

Negative

• Picard Medical, Inc. terminated its Chief Financial Officer, Bernard Skaggs, effective immediately on June 1, 2026, representing a significant and abrupt change in senior financial leadership.

Insights

Corporate governance analyst

CFO exit and new CAO mark a notable finance leadership shift.

The company reports the immediate termination of its Chief Financial Officer, Bernard Skaggs, effective June 1, 2026, while simultaneously appointing Georgina Smith as Chief Accounting Officer. This concentrates change within the finance function and may affect short-term continuity in financial oversight.

Smith brings recent experience as Controller of subsidiary SynCardia Systems, LLC and prior senior reporting roles at Rain Bird Corporation and Tucson Electric Power, alongside CPA credentials. Investors will likely look to future company filings for evidence of stable financial reporting and any additional disclosures about the broader finance leadership structure.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Key Figures

Effective date of CFO termination: June 1, 2026 Effective date of CAO appointment: June 1, 2026 Age of Georgina Smith: 54 years +3 more

6 metrics

Effective date of CFO termination June 1, 2026 Termination of Chief Financial Officer Bernard Skaggs

Effective date of CAO appointment June 1, 2026 Appointment of Georgina Smith as Chief Accounting Officer

Age of Georgina Smith 54 years New Chief Accounting Officer

SynCardia Controller tenure January 2026 to May 2026 Controller of SynCardia Systems, LLC

Rain Bird role tenure January 2024 to October 2025 Assistant Corporate Controller at Rain Bird Corporation

Tucson Electric Power tenure May 2014 to December 2023 Includes Manager of External Reporting from January 2018

Key Terms

Emerging growth company, Item 5.02, Chief Accounting Officer, related party transactions, +2 more

6 terms

Emerging growth company regulatory

"Emerging growth company Item 5.02. Departure of Directors or Certain Officers"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

Item 5.02 regulatory

"Item 5.02. Departure of Directors or Certain Officers; Election of Directors"

Chief Accounting Officer financial

"The Board of Directors of the Company appointed Georgina Smith, 54, as the Company’s Chief Accounting Officer"

A chief accounting officer is a senior executive responsible for overseeing a company's financial records and ensuring all accounting practices are accurate and compliant with regulations. They play a key role in preparing financial reports that help investors understand the company's financial health, much like a trusted navigator guiding a ship through complex waters. Their work ensures transparency and trust in the company's financial information.

related party transactions financial

"there are no related party transactions requiring disclosure under Item 404(a) of Regulation S‑K"

Transactions between a company and people or entities that have close ties to it—such as executives, board members, major shareholders, family members, or related companies—where the parties are not independent. These deals matter to investors because they can create conflicts of interest or hide favorable terms that distort a company’s true profits and risks; think of it like a business buying or selling to a family member instead of using the open market, which can lead to biased prices or undisclosed obligations.

Regulation S‑K regulatory

"no related party transactions requiring disclosure under Item 404(a) of Regulation S‑K"

Regulation S-K is a U.S. Securities and Exchange Commission rulebook that sets the required narrative disclosures companies must include in public filings, such as descriptions of the business, risk factors, management discussion, executive pay and legal matters. It matters to investors because it standardizes the non-numeric information companies must report, like a checklist that helps you compare businesses, spot risks and judge management’s strategy and track record.

Certified Public Accountant financial

"and is a Certified Public Accountant in the State of Arizona"

A certified public accountant (CPA) is a licensed accounting professional who has passed rigorous exams and met education and experience requirements to prepare, review, and officially certify financial statements and tax filings. For investors, a CPA's involvement is like a neutral referee confirming that a company's reported numbers are accurate and follow accounting rules, which improves trust in financial reports and lowers the risk of unexpected errors or misleading information.

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Understanding 8-K Material Events →

false 0002030617 0002030617 2026-06-01 2026-06-01

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 1, 2026

Picard Medical, Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-42801		86-3212894
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

1992 E Silverlake
Tucson AZ, 85713

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (520) 545-1234

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		PMI		The NYSE American, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Also as of June 1, 2026, Bernard Skaggs was terminated as the Chief Financial Officer of Picard Medical, Inc. (the “Company”), effective immediately.

The Board of Directors of the Company appointed Georgina Smith, 54, as the Company’s Chief Accounting Officer, effective June 1, 2026. Prior to her appointment, Ms. Smith served as Controller of SynCardia Systems, LLC, a subsidiary of the Company, (“SynCardia”) from January 2026 to May 2026. Before joining SynCardia, Ms. Smith served as Assistant Corporate Controller of Rain Bird Corporation from January 2024 to October 2025, where she was responsible for enterprise accounting governance, internal controls, financial reporting, regulatory compliance, and audit readiness. From May 2014 to December 2023, she held positions of increasing responsibility at Tucson Electric Power, including Manager of External Reporting from January 2018 to December 2023. Ms. Smith holds a Master of Business Administration and a Bachelor of Science in Accounting from the University of Arizona and is a Certified Public Accountant in the State of Arizona.

There are no arrangements or understandings between Ms. Smith and any other persons pursuant to which she was selected as Chief Accounting Officer, and there are no related party transactions requiring disclosure under Item 404(a) of Regulation S‑K.

1

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Picard Medical, Inc.
By:	/s/ Patrick NJ Schnegelsberg
	Name: Patrick NJ Schnegelsberg
	Title: Chief Executive Officer

Dated: June 2, 2026

2

FAQ

What leadership change did Picard Medical, Inc. (PMI) disclose on June 1, 2026?

Picard Medical, Inc. reported that its Chief Financial Officer, Bernard Skaggs, was terminated effective immediately on June 1, 2026. At the same time, the Board appointed Georgina Smith as Chief Accounting Officer to oversee accounting and reporting functions.

Who is Georgina Smith, the new Chief Accounting Officer of Picard Medical (PMI)?

Georgina Smith, 54, is Picard Medical’s new Chief Accounting Officer. She previously served as Controller of SynCardia Systems, LLC and held senior accounting roles at Rain Bird Corporation and Tucson Electric Power, and she is a Certified Public Accountant in Arizona.

When did Georgina Smith’s appointment at Picard Medical (PMI) become effective?

Georgina Smith’s appointment as Chief Accounting Officer became effective on June 1, 2026. Her prior role was Controller of SynCardia Systems, LLC from January 2026 to May 2026, giving her recent experience within Picard Medical’s corporate structure.

Did Picard Medical (PMI) disclose any related party transactions involving Georgina Smith?

Picard Medical stated there are no related party transactions involving Georgina Smith that require disclosure under Item 404(a) of Regulation S‑K. The company also noted no arrangements or understandings with other persons pursuant to which she was selected.

What prior experience does Georgina Smith bring to Picard Medical (PMI)?

Georgina Smith brings experience as Controller of SynCardia Systems, LLC and Assistant Corporate Controller at Rain Bird Corporation, where she handled accounting governance and reporting. She also held increasing-responsibility roles at Tucson Electric Power, including Manager of External Reporting.

What are Georgina Smith’s academic and professional qualifications at Picard Medical (PMI)?

Georgina Smith holds a Master of Business Administration and a Bachelor of Science in Accounting from the University of Arizona. She is also a Certified Public Accountant in the State of Arizona, aligning her background with Picard Medical’s financial reporting needs.

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