Picard Medical, Inc. 8-K Filings

Picard Medical, Inc. reported that NYSE American has accepted its plan to regain compliance with the exchange’s continued listing standards under Sections 1003(a)(i) and (ii). Acceptance allows the company’s common stock to continue trading on NYSE American while it works toward milestones in the compliance plan.

The company had previously reported stockholders’ equity of $3.8 million as of December 31, 2025 and a stockholders’ deficit of $(1.4) million as of March 31, 2026, along with losses in three of its four most recent fiscal years ended December 31, 2025. Picard Medical has been granted a compliance period through November 8, 2027 and is subject to a maximum period of 18 months from the original noncompliance notice to regain compliance, with periodic NYSE American review.

Picard Medical, Inc. approved a 1-for-50 reverse stock split of its common stock, implemented through a Certificate of Amendment filed in Delaware after stockholders authorized a reverse split range of 1-for-15 to 1-for-50. The split becomes effective at 5:00 p.m. Eastern Time on July 31, 2026.

Beginning August 3, 2026, the shares will trade on the NYSE American on a split-adjusted basis under the symbol PMI with new CUSIP 71953R 207. Every 50 issued and outstanding shares will be combined into one share, with no fractional shares issued and any fractions rounded up. The transaction will proportionately reduce outstanding shares while leaving each holder’s ownership percentage substantially unchanged and will adjust outstanding equity awards, warrants and other convertible securities, supporting continued compliance with NYSE American continued listing standards.

Picard Medical, Inc. reported the results of its July 17, 2026 annual meeting of stockholders. A total of 102,695,935 shares of common stock were entitled to vote as of June 26, 2026. Stockholders elected directors Richard Fang, Sam Van, Joe Xiao, and George Ye for terms expiring at the 2027 annual meeting. An advisory vote to approve executive compensation passed with 56,104,172 votes for, and stockholders supported holding future advisory votes on pay every one year, with 56,309,300 votes for the one-year frequency.

Stockholders approved an amendment to the certificate of incorporation authorizing a reverse stock split of issued and outstanding common stock at a Board-selected ratio between 1-for-15 and 1-for-50, with 58,138,876 votes for the proposal. They also approved creating Class B common stock carrying 20 votes per share, with 51,739,973 votes in favor. Finally, the appointment of MaloneBailey LLP as independent registered public accounting firm for 2026 was ratified with 58,514,997 votes for.

Picard Medical, Inc. filed an amended report to replace a prior press release with a corrected version describing its 2026 annual stockholder presentation ahead of the virtual Annual Meeting on July 17, 2026. The presentation reviews recent business performance, product development, manufacturing initiatives, and proposals to be considered by stockholders.

For the first three months of 2026, the company reports an 85% year-over-year increase in revenue, driven by a 116% increase in U.S. revenue. Gross margin was 24% for this period, compared with -4% in 2025. Management highlights ongoing manufacturing optimization efforts to strengthen quality control, improve supply chain resilience, and reduce production costs.

The company also outlines progress on its next-generation Emperor platform, an electromechanical drive system intended to replace the current external pneumatic driver and ultimately support a fully implantable total artificial heart using wireless power transfer and internal control. Planned milestones include pursuit of FDA Breakthrough Device designation, continued preclinical studies, an Investigational Device Exemption submission in 2028, and the start of clinical studies in 2029, subject to discussions with the FDA.

Picard Medical, Inc. filed an amendment to update details about a recent board appointment. The company clarifies that, effective June 23, 2026, Dr. Joe Xiao joined the Board of Directors and was appointed to the Compensation Committee and the Nominating and Corporate Governance Committee.

Dr. Xiao signed the company’s standard indemnification agreement for directors and will be paid under the existing non-employee director compensation policy described in the June 15, 2026 proxy statement. The company states there are no special arrangements leading to his selection and no related-party transactions requiring disclosure.

Picard Medical, Inc. used a pre-recorded presentation for its 2026 Annual Meeting to update stockholders on business performance, product development, and voting proposals. Management reported first-quarter revenue growth of 85% year over year and a 28% improvement in gross margin, with U.S. revenue up 116% and representing most product revenue. The company is advancing its next-generation Emperor Total Artificial Heart platform, aiming to eliminate external pneumatic drivers and support internal power, wireless control, and transcutaneous energy transfer, supported by several issued patents. The development roadmap targets an FDA Breakthrough Device submission in 2026, GLP animal studies in 2027, IDE submission in 2028, and an early feasibility U.S. clinical study in 2029. Picard detailed a capital structure with slightly more than 92 million shares outstanding and a fully diluted share count of slightly more than 118 million. Stockholders are asked to vote on six proposals, including director elections, a reverse stock split in a range of 1-for-15 to 1-for-50 to help address New York Stock Exchange listing requirements, creation of a high-vote Class B common stock with 20 votes per share, auditor ratification, and advisory votes on executive compensation and its frequency.

Picard Medical, Inc. filed a current report describing a pre-recorded presentation released ahead of its 2026 virtual Annual Meeting on July 17, 2026. The presentation highlights recent business performance, including an 85% year-over-year increase in revenue and an improved gross margin of 28% from year-end 2025, driven by a 116% increase in U.S. revenue.

The company outlines manufacturing optimization initiatives and progress on its next-generation Emperor total artificial heart platform, which replaces the external pneumatic driver with an electromechanical system and has a roadmap toward a fully implantable device. Development plans include pursuit of FDA Breakthrough Device designation, an Investigational Device Exemption submission in 2028, and planned clinical study activities in 2029. The presentation also reviews proposals for director elections, capital structure changes, auditor ratification, and advisory votes on executive compensation to be considered at the Annual Meeting.

Picard Medical, Inc. reported that on June 23, 2026, Dr. Joe Xiao was appointed to its Board of Directors, with his term set to expire at the Company’s 2026 annual meeting of stockholders. He will serve on the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee, giving him a broad governance role across financial oversight, executive pay and board nominations.

Dr. Xiao entered into Picard Medical’s standard indemnification agreement for directors and will be paid under the existing compensation policy for non-employee directors described in the proxy statement filed on June 15, 2026. The Company states there are no special arrangements behind his selection and no related-party transactions requiring disclosure, indicating this is a routine independent board appointment.

Picard Medical, Inc. announced a planned leadership transition, with Patrick NJ Schnegelsberg stepping down as Chief Executive Officer and board member effective June 18, 2026. The company states his departure is not due to any disagreement over operations, policies, or practices.

The Board appointed Chairman Richard Fang, Ph.D., age 60, as Interim Chief Executive Officer effective the same date, while it searches for a permanent CEO. He will continue as Chairman and receive an annual salary of $400,000 in the interim role.

Fang previously served as CEO from September 2021 to July 2023 and has extensive med-tech and venture capital experience, including founding Reach Surgical and leading it over a 15-year period. Picard’s SynCardia unit manufactures the only FDA- and Health Canada–approved total artificial heart, with more than 2,100 implants across 27 countries.

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.

Picard Medical, Inc. filed an 8-K to share a shareholder letter highlighting strong growth in its artificial heart business alongside ongoing financial and listing challenges. For 2025, total revenue reached $4.9 million, up 12.5%, with product revenue of $4.7 million representing 96% of the total. The company’s NYSE American IPO raised $17.4 million in net equity proceeds and it added $9.7 million of debt financing, ending 2025 with $11.5 million in cash versus $0.1 million a year earlier. In first-quarter 2026, revenue grew 85% to $1.2 million and gross margin swung to a positive 24% from a negative 58% a year before, while Picard repaid $7.4 million of senior secured debt principal in cash and settled $2.1 million through equity. The letter notes a 2025 going-concern qualification and explains steps taken in 2026, including a further $5.0 million public offering and capital structure simplification, as part of a roadmap toward profitability.

The company emphasizes its SynCardia Total Artificial Heart, the only FDA- and Health Canada-approved total artificial heart, with more than 2,100 implants across 27 countries. It is advancing the fully implantable Emperor TAH, which has completed initial animal testing and could be submitted for approval as early as 2028, subject to successful non-clinical work and regulatory review. Management also outlines plans to expand indications via an FDA premarket approval supplement, improve gross margins by scaling manufacturing toward 3,000 units per year, and submit a next-generation lower-cost driver for FDA review in late 2027. The letter discloses that NYSE American has raised concerns about stockholders’ equity; Picard has until June 7, 2026 to submit a compliance plan and is focused on maintaining its listing while continuing cost reductions, debt reduction, and growth initiatives.

Picard Medical, Inc. reported first quarter 2026 results showing rapid top-line growth but continued losses and listing pressure. Revenue grew 85% to $1.2 million, driven by increased use of the SynCardia Total Artificial Heart and Freedom Driver rentals. Gross profit turned positive at $0.3 million with a 24% margin, versus a gross loss in Q1 2025, while net loss was $7.6 million including significant non-cash debt-related charges.

The company materially reduced leverage by repaying about $7.4 million of a senior secured note in cash, settling $2.1 million of principal with 1.4 million common shares, and repaying roughly $0.9 million of related-party debt. A subsequent May 2026 public offering raised $5.0 million and a warrant exchange cut the warrant liability and simplified the capital structure.

Separately, NYSE American notified Picard that it is below two stockholders’ equity listing standards, citing a $3.8 million equity balance as of December 31, 2025 and an approximately $(1.4) million stockholders’ deficit as of March 31, 2026. The company must submit a compliance plan by June 7, 2026 to regain compliance by November 8, 2027. The stock continues trading as PMI with a “.BC” below-compliance flag while operations and SEC reporting continue.

Picard Medical, Inc. agreed to a registered public offering of 16,666,667 shares of common stock, or pre-funded warrants for the same number of shares, together with Series A and Series B warrants to purchase up to 16,666,667 shares each. The combined public offering prices of $0.30 per share and $0.2999 per pre-funded warrant are expected to generate gross proceeds of approximately $5.0 million before fees, to be used for working capital, general corporate purposes, and debt repayment. The company granted investor, company, and insider lock-ups and set warrant exercise prices at $0.35 per share with expirations up to five years. Picard Medical also received a notice from NYSE American that its stockholders’ equity of approximately $3.8 million as of December 31, 2025 falls below the $4.0 million continued listing requirement, triggering a plan submission by June 7, 2026 to regain compliance by November 8, 2027 while its shares trade with a “.BC” below-compliance designation.

Picard Medical, Inc. agreed to exchange an existing warrant series for new warrants and priced a new equity offering. The company will swap warrants exercisable for 7,009,346 shares at $2.675 per share for new warrants covering up to 10,000,000 shares at $0.35 per share, contingent on closing its current registered offering. Separately, it priced a approximately $5 million “reasonable best efforts” offering of 16,666,667 common shares (or equivalents) together with Series A and Series B common warrants, all at a combined $0.30 per share and warrants. The new and offering-related warrants generally become immediately exercisable, carry exercise prices of $0.35, include 4.99% or 9.99% beneficial ownership limits, and have terms of up to five years. Net proceeds are intended for working capital, general corporate purposes, and repaying certain senior secured note and working capital obligations.

Picard Medical, Inc. reported strong preliminary, unaudited top-line revenue growth for the first quarter ended March 31, 2026. Revenue rose 79.9% to $1.1 million from $0.6 million a year earlier, driven by higher sales of the SynCardia Total Artificial Heart and increased driver rental income, helped by favorable reimbursement and economic conditions in the U.S.

The company also implemented pricing adjustments in its driver rental program, supporting higher recurring revenue. Management highlighted progress in commercial and operational initiatives and a focus on expanding patient access and advancing a next-generation fully implantable total artificial heart. These figures are preliminary and unaudited, and final results will be reported in the upcoming Form 10-Q.

Picard Medical, Inc. entered into a securities purchase agreement with Quick Capital, LLC for a convertible promissory note with a principal amount of $555,555.56 and 80,128 origination shares of common stock. The note carries a one-time 12% interest charge of $66,666.67 and was issued with a $55,555.56 original issue discount, providing $500,000 of funded amount and $490,000 of cash proceeds after $10,000 of buyer expenses.

The note matures nine months after its April 7, 2026 issue date and is scheduled to be repaid in six equal monthly installments of $103,703.70 from July 1, 2026 through December 1, 2026. Following an event of default, the buyer may convert outstanding amounts into common stock at 75% of the lowest trading price over the prior ten trading days, subject to a 4.99% beneficial ownership limitation. The securities are being issued in a private offering relying on Section 4(a)(2) and/or Regulation D exemptions.

Picard Medical furnished an earnings presentation covering 2025 results and a strategic update for its SynCardia total artificial heart platform. Revenue rose 12.50% to $4.94 million, driven by 33.49% U.S. growth, which accounted for 88.25% of revenue. The company completed an IPO, raising $35.55 million, and used the funds to repay legacy debt, support operations, and cover transaction costs. Net loss was about $27.00 million, but non-cash and financing items reduced operating cash burn to $15.67 million (GAAP), with a non-GAAP normalized burn of $11.04 million. Cash increased to $11.451 million and notes payable fell sharply, moving stockholders’ equity from a $(44.00) million deficit to positive $3.789 million. Picard highlighted ongoing development of the fully implantable Emperor Total Artificial Heart, next-generation Unicorn portable driver, manufacturing optimization, and regulatory expansion as key priorities for 2026.

Picard Medical, Inc. reported full-year 2025 results, with total revenue of $4.94 million, up from $4.39 million in 2024, an increase of 12.5 percent. Product revenue was $4.75 million and rental revenue was $0.19 million, driven by continued adoption of the SynCardia Total Artificial Heart.

The company posted a gross loss of $0.2 million and an operating loss of $13.3 million, slightly improved from a $13.7 million operating loss in 2024, while net loss widened to $27.0 million from $21.1 million. Cash, cash equivalents and restricted cash rose sharply to $11.5 million as of December 31, 2025, compared to $0.1 million a year earlier, supported by $27.1 million of net cash from financing activities and $15.7 million of net cash used in operating activities.

Management describes 2025 as a transformational year featuring the public listing, balance sheet restructuring and revenue growth, and indicates the company expects to keep investing in commercialization, manufacturing scale and product development, while noting that additional capital will be required to support operations and its business plan.

Picard Medical, Inc., parent of SynCardia Systems, announced it will present new preclinical data on its next-generation Emperor Total Artificial Heart at the American College of Cardiology’s Annual Scientific Session & Expo in New Orleans from March 28 to March 30, 2026.

The poster will cover early engineering and preclinical evaluation of a fully implantable, electromechanical artificial heart system designed to preserve the physiological autoregulation and hemodynamic performance of the currently approved SynCardia Total Artificial Heart. SynCardia will also exhibit at booth #2554, where attendees can learn about the FDA- and Health Canada–approved SynCardia Total Artificial Heart and discuss the design and development progress of the Emperor platform.

Picard Medical, Inc. filed an 8-K to share a clinical milestone for its SynCardia Total Artificial Heart. UCSF Health successfully supported a male patient in his twenties with advanced biventricular heart failure for 119 days on the device before a heart transplant on March 14, 2026.

This is the second of five UCSF patients successfully bridged to transplant using the SynCardia Total Artificial Heart, underscoring its role for end-stage heart failure patients awaiting donor organs. SynCardia’s system is described as the only commercially available total artificial heart in the United States and Canada, with more than 2,100 implants across 27 countries.

Picard Medical, Inc., parent of SynCardia Systems, highlights a landmark clinical case using the SynCardia Total Artificial Heart. A 29-year-old patient with severe biventricular heart failure lived for more than four years supported entirely by the device, totaling 1,636 days, before receiving a successful donor heart transplant on February 24, 2026.

The SynCardia Total Artificial Heart is indicated as a bridge to transplant for patients with irreversible biventricular heart failure who cannot be managed with left ventricular assist devices alone. It replaces both ventricles and all four native heart valves to restore circulation and hemodynamic stability while patients await a donor organ.

Picard notes that more than 2,100 SynCardia Total Artificial Heart implants have been performed worldwide across 27 countries. The technology is described as the first total artificial heart approved by both the U.S. FDA and Health Canada and the only commercially available artificial heart in the United States and Canada.

Picard Medical, Inc. reported the results of a special meeting of stockholders held virtually by live webcast on March 10, 2026. Stockholders of record as of February 6, 2026, when 73,701,176 common shares were outstanding and entitled to vote, were eligible to participate. Approximately 57.16% of these shares were represented in person via internet webcast or by proxy, indicating a solid turnout for the meeting. Two proposals were voted on, with each receiving about 41.7 million votes in favor, fewer than 0.4 million votes against, and very few abstentions, reflecting strong support among participating shareholders.

Picard Medical, Inc. filed a report describing a media appearance featuring its SynCardia Total Artificial Heart. The company will be highlighted on BTV – Business Television in a segment airing on FOX Business News on March 14, 2026 at 5:00 p.m. Eastern Time.

The segment will showcase the SynCardia Total Artificial Heart, which has been implanted in more than 2,100 patients worldwide and is designed to replace both ventricles and all four heart valves for those awaiting heart transplantation. It will also discuss development of a next-generation, fully implantable artificial heart platform aimed at improving patient mobility and quality of life.

Picard Medical, Inc. announced it will host a webcasted Annual Business Update on March 25, 2026 at 4:30 p.m. Eastern Time. During the event, management will review fiscal year and fourth quarter 2025 financial results, discuss operational progress, commercial activity, and strategic priorities.

The webcast will also feature perspectives from leading clinicians and a patient testimonial regarding the SynCardia Total Artificial Heart. Registration is available via a link in the company’s March 12, 2026 press release and on its website, with the press release furnished as Exhibit 99.1.

Picard Medical, Inc., parent of SynCardia Systems, announced that Vice President of Clinical Affairs Dr. Andre Simon will deliver three presentations at the Technology and Heart Failure Therapeutics 2026 conference in Boston from March 2 to March 4, 2026.

The talks will cover new in vitro and in vivo data for the fully implantable Emperor electromechanical total artificial heart, perspectives on the future of total artificial heart therapy, and updated clinical outcomes with the SynCardia Total Artificial Heart that extend beyond survival to organ recovery, functional improvement, and preservation of transplant eligibility.

Picard Medical, Inc., parent of SynCardia Systems, announced it will participate in the inaugural “Hands-On Training Day” at the Technology and Heart Failure Therapeutics 2026 conference in Boston on March 1, 2026. The session focuses on real-world use of the SynCardia Total Artificial Heart in advanced heart failure.

Senior Clinical Specialists Lauren Wallace and Skyler Peffly will lead small-group, case-based training using the Companion 2 Driver, Freedom Portable Driver, and the SynCardia Total Artificial Heart. SynCardia’s technology has been implanted in more than 2,100 patients across 27 countries and is described as the only commercially available total artificial heart in the United States and Canada.

Picard Medical, Inc. filed a current report describing a new communications initiative. The company issued a press release announcing the launch of the Cruxx to MedTech Podcast, a series that will explore the SynCardia Total Artificial Heart and the Emperor device. The press release is included as Exhibit 99.1 and is incorporated by reference. The company specifies that the information in this report and its exhibits is being furnished, not filed, so it is not subject to certain Exchange Act liability provisions or automatically incorporated into other securities filings.

Picard Medical, Inc. filed a current report to make public an investor presentation it plans to use for investor relations and other purposes. The presentation is included as Exhibit 99.1, dated January 13, 2026, and is incorporated by reference in the report.

The company specifies that the information in this report and the attached exhibit is being "furnished" rather than "filed," meaning it is not subject to certain Exchange Act liabilities and is not automatically incorporated into other Securities Act or Exchange Act filings.

Picard Medical, Inc. entered into a securities purchase agreement with a single institutional investor for a private placement of senior secured notes and stock purchase warrants. At the initial closing on December 26, 2025, the company issued senior secured notes with an aggregate principal amount of $15,000,000, maturing on December 26, 2028, bearing a 0.00% annual interest rate. The notes require monthly amortization payments, which may be paid in cash or, if conditions are met, in shares of common stock, and can be optionally redeemed at 105% of principal upon 15 business days’ notice.

The investor also received warrants to purchase up to 7,009,346 shares of common stock at an initial exercise price of $2.675 per share, with additional warrants potentially issuable in future note draws. Picard Medical must maintain at least $4,000,000 in cash, seek stockholder approval to increase authorized common shares to at least 300 million and for the share issuances, and file a resale registration statement for the warrant and note shares. The notes are secured by a first-priority lien on substantially all company assets and certain intellectual property of subsidiary SynCardia Systems, LLC. Net proceeds are intended for working capital and general corporate purposes.

Picard Medical, Inc. filed a current report to note that members of its management team will ring the opening bell at the New York Stock Exchange. The company issued a press release about this event on December 18, 2025 and furnished it as Exhibit 99.1.

The company states that the information in this report and its exhibits is being furnished, not filed, so it is not subject to Exchange Act filing liabilities and is not automatically incorporated by reference into other securities-law filings.

Picard Medical, Inc. filed a current report to note that it issued a press release on December 9, 2025 providing an update regarding its SynCardia Total Artificial Heart. The update itself is contained in the referenced press release, which is attached as Exhibit 99.1 and incorporated by reference.

The company clarifies that the information in this report and its exhibits is being furnished rather than filed, meaning it is not automatically subject to certain liability provisions or incorporated into other securities law filings. No financial results, transaction details, or changes in corporate structure are described in this report.

Picard Medical, Inc. reported that its Engineering Project Manager, Duffy Elmer, presented in vitro data on the company’s Emperor Total Artificial Heart at the 31st Annual Meeting of the International Society for Mechanical Circulatory Support in Vienna, Austria. The presentation highlights ongoing development work on the Emperor Total Artificial Heart, a key technology in the company’s portfolio.

The company made available an abstract of the Emperor Total Artificial Heart and the slide deck used in the presentation as exhibits to this report. These materials are furnished, not filed, which means they are provided for information purposes and are not subject to the liability provisions that apply to formal filed reports.

Picard Medical, Inc. reported that its CEO, Patrick NJ Schnegelsberg, will present data on the company’s Emperor Total Artificial Heart at the CSI Focus D-HF (Device Therapies in Heart Failure) conference. The event is scheduled for December 5 and 6, 2025, in Frankfurt, Germany, giving the company an opportunity to share clinical or technical information about its artificial heart technology with a specialized cardiovascular audience.

The update is being shared through a press release furnished as an exhibit to this current report, and is characterized as supplemental information that is not deemed filed for liability purposes under federal securities laws.

Picard Medical, Inc. entered into a short-term bridge financing on November 26, 2025 through an unsecured promissory note with Fang Family Fund, LLC, an affiliate of its Board Chairman, Richard Fang. The lender agreed to provide a principal amount of $1,000,000 at an annual interest rate of 6%, compounded annually, with all principal and accrued interest due on November 27, 2026. The company may prepay the note at any time without penalty and plans to use the funds for general corporate purposes, including working capital, liquidity management, and near-term operating expenses. The related-party transaction was reviewed and approved by disinterested members of the Audit Committee and Board, who determined the terms are fair and comparable to those available from an unaffiliated third party. The company entered into this note to address short-term liquidity needs and currently expects to repay it from operating cash flow and/or future financing or refinancing.

Picard Medical, Inc. reported that Duffy Elmer will present in vitro data on the company’s Emperor Total Artificial Heart at the 31st Annual Meeting of the International Society for Mechanical Circulatory Support in Vienna, Austria, taking place between December 1 and 4, 2025. The announcement was made through a press release dated November 26, 2025, which is attached as an exhibit and incorporated by reference. The company also clarified that this information is being furnished, not filed, under securities laws, which limits its use in certain legal contexts.

Picard Medical, Inc. reported that its wholly owned subsidiary, SynCardia Systems LLC, has completed the first in vivo implantations of the Emperor Total Artificial Heart. This marks an important clinical milestone for the company’s artificial heart technology, moving it from development toward real-world use in living subjects.

The announcement was made through a press release furnished as an exhibit to this current report. The disclosure is informational and is stated as being furnished rather than filed under securities laws, which limits how it is incorporated into other regulatory documents.

Picard Medical, Inc. filed an 8-K stating it issued a press release announcing financial and operating results for the third quarter ended September 30, 2025. The press release is furnished as Exhibit 99.1 and incorporated by reference within this report.

The company notes the information is furnished, not filed under the Exchange Act and is not incorporated by reference into Securities Act or Exchange Act filings, despite any general incorporation language.

Picard Medical, Inc. filed a Form 8-K stating it furnished a press release discussing the volatility of its stock price. The press release is included as Exhibit 99.1 and dated October 24, 2025.

The company’s common stock trades on the NYSE American under the symbol PMI. No financial results or transactions are described in this filing.

Picard Medical (PMI) reported that stockholders approved an amendment to its 2021 Equity Incentive Plan. The update increases the total shares available under the plan to 18,000,000, adds warrants as an award type, and ratifies the plan.

The proposal passed with 46,424,590 votes for, 7,727 against, and 7,945,013 abstentions. A quorum was present, with 54,377,330 shares represented. As context, shares of common stock outstanding and entitled to vote were 73,701,176 as of the September 16, 2025 record date.