PMI Form 3/A: CEO Schnegelsberg Discloses 2.38M Options; Exercise Price Adjusted

Rhea-AI Filing Summary

Picard Medical, Inc. reporting person Patrick Schnegelsberg, identified as both a director and the company's Chief Executive Officer, filed an amended Form 3 to report equity derivative holdings. The amendment corrects the conversion/exercise price to reflect a combined 1 for 2.1524 forward stock split adjustment (a 1 for 2.2 forward split followed by a 1.0221 for 1 reverse split). The filing shows 2,378,124 employee stock options underlying common stock with an exercise price of $0.71 (as adjusted). The options were granted June 28, 2024, with a vesting commencement date of July 5, 2023: one quarter cliff vested on the first anniversary and the remainder vests monthly over the subsequent 36 months, subject to continued service. The Form 3/A is signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Reporting person holds 2,378,124 employee stock options, providing alignment of executive incentives with shareholder value.
• Vesting schedule disclosed: 25% cliff at first anniversary with the remainder vesting monthly over 36 months, tying compensation to continued service.
• Amendment corrects exercise price for stock-split adjustments, improving public transparency under Section 16 reporting requirements.

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine Section 16 amendment correcting option exercise price after stock-split adjustments; reporting officer holds a multi-year vested option award.

The amended Form 3 clarifies the adjusted exercise price following corporate stock-split actions and discloses a sizable option grant of 2,378,124 shares awarded on June 28, 2024. The vesting schedule—25% at the first anniversary, then monthly over 36 months—aligns with common executive equity incentive practices and ties long-term compensation to continued service. This filing is procedural in nature and does not report any immediate sale or purchase of underlying shares; it updates the public record for Section 16 compliance.

Corporate Governance Expert

TL;DR: Disclosure improves transparency on CEO compensation mechanics after corporate capitalization changes; no new transactions reported.

The Form 3/A addresses a technical correction to option pricing after a combined forward/reverse split and documents the CEO's option holdings and vesting terms. The filing reinforces standard governance practice by timely amending Section 16 reporting to reflect corporate actions that alter per-share metrics. There is no indication of accelerated vesting, transfers, or other atypical arrangements in this disclosure.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

SCHNEGELSBERG PATRICK NJ

(Last) (First) (Middle)

1992 E SILVERLAKE

(Street)

TUCSON AZ 87513

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/28/2025

3. Issuer Name and Ticker or Trading Symbol
Picard Medical, Inc. [ PMI ]

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

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

5. If Amendment, Date of Original Filed (Month/Day/Year)
08/28/2025

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Options (right to buy)	(1)	(1)	Common Stock	2,378,124(2)	$0.71(2)	D

Explanation of Responses:

1. On June 28, 2024, the reporting person was granted 2,378,124 options, with a vesting commencement date of July 5, 2023. One quarter of the options cliff vested upon the first anniversary of the vesting commencement date, and the remaining options have vested or will vest ratably in equal monthly installments over the 36 months following the first anniversary of the vesting commencement date, generally subject to the continued service of the reporting person through each applicable vesting date.

2. As adjusted to reflect the Company's 1 for 2.2 forward stock split of the Company's common stock and the Company's 1.0221 for 1 reverse stock split of the Company's common stock, resulting in an overall forward stock split of 1 for 2.1524.

Remarks:

This Form 3/A is being filed to correct the conversion price to reflect the Company's 1 for 2.2 forward stock split of the Company's common stock and the Company's 1.0221 for 1 reverse stock split of the Company's common stock, resulting in an overall forward stock split of 1 for 2.1524.

	/s/ Emily Semon, as attorney-in-fact	08/28/2025
	** 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 5 (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.

FAQ

What did Patrick Schnegelsberg report on the Form 3/A for Picard Medical (PMI)?

The Form 3/A reports that Patrick Schnegelsberg, the CEO and a director, beneficially owns 2,378,124 employee stock options and amends the exercise price to reflect stock-split adjustments.

What is the exercise price and how was it adjusted?

The exercise price is reported as $0.71, adjusted to reflect a combined forward/reverse split equal to an overall forward split of 1 for 2.1524.

When were the options granted and how do they vest?

The options were granted on June 28, 2024, with a vesting commencement date of July 5, 2023; 25% vested after one year, and the remainder vests monthly over the next 36 months, subject to continued service.

Does the filing report any sales or purchases of shares?

No. The Form 3/A only reports ownership of derivative securities (employee stock options) and corrects the exercise price; it does not disclose any purchases or sales.

Why was an amendment filed?

The amendment was filed to correct the conversion/exercise price to reflect the company's combined stock-split adjustments (a 1 for 2.2 forward split and a 1.0221 for 1 reverse split).