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[Form 3/A] Picard Medical, Inc. Amended Initial Statement of Beneficial Ownership

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
3/A

Rhea-AI Filing Summary

Bernard Skaggs, Chief Financial Officer of Picard Medical, Inc. (PMI), filed an amended Form 3 reporting two employee stock option awards. The filing shows 102,239 options granted with a $0.71 exercise price (as adjusted) and 408,956 options granted with a $0.71 exercise price (as adjusted). Each grant has a vesting commencement date (first: February 21, 2023; second: November 27, 2023). For both grants one-quarter cliff vests on the first anniversary of the vesting commencement date, with the remainder vesting monthly over the following 36 months, subject to continued service. The exercise price and share amounts were adjusted to reflect a combined forward and reverse split resulting in an overall forward split of 1 for 2.1524. The form was signed by Emily Semon as attorney-in-fact on 08/28/2025.

Positive

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Negative

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Insights

TL;DR: Amendments clarify option quantities and exercise price after stock splits; grants follow standard multi-year vesting schedules.

The filing documents two option grants to the CFO totaling 511,195 options (102,239 and 408,956) with an adjusted exercise price of $0.71. Vesting schedules include a one-quarter cliff then monthly vesting over 36 months, which aligns executive incentives with multi-year retention. The amendment corrects conversion/exercise-price details to reflect a combined forward and reverse split (overall forward split of 1 for 2.1524), demonstrating attention to accurate Section 16 reporting. No other securities or transactions are disclosed.

TL;DR: Governance disclosure is complete for the awards; timing and signature indicate proper Form 3/A correction and filing procedure.

The Form 3/A properly identifies the reporting person as CFO and corrects conversion pricing after corporate stock-split actions. Vesting terms are explicitly stated and contingent on continued service, a common structure for executive equity grants. The filing is signed by an attorney-in-fact, consistent with authorized filings. The disclosure does not include other compensatory or related-party transaction details.

Insider Skaggs Bernard
Role Chief Financial Officer
Type Security Shares Price Value
holding Employee Stock Option (Right to Buy) -- -- --
holding Employee Stock Option (Right to Buy) -- -- --
Holdings After Transaction: Employee Stock Option (Right to Buy) — 511,195 shares (Direct)
Footnotes (3)
  1. F1. On June 28, 2024, the reporting person was granted 102,239 options, with a vesting commencement date of February 21, 2023. One quarter of the options cliff vest upon the first anniversary of the vesting commencement date, and the remaining options 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. F2. 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.
  3. F3. On June 28, 2024, the reporting person was granted 408,956 options, with a vesting commencement date of November 27, 2023. One quarter of the options cliff vest upon the first anniversary of the vesting commencement date, and the remaining options 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.

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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*
Skaggs Bernard
(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)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Financial 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 Option (Right to Buy) (1) (1) Common Stock 102,239(2) $0.71(2) D
Employee Stock Option (Right to Buy) (3) (3) Common Stock 408,956(2) $0.71(2) D
Explanation of Responses:
1. On June 28, 2024, the reporting person was granted 102,239 options, with a vesting commencement date of February 21, 2023. One quarter of the options cliff vest upon the first anniversary of the vesting commencement date, and the remaining options 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.
3. On June 28, 2024, the reporting person was granted 408,956 options, with a vesting commencement date of November 27, 2023. One quarter of the options cliff vest upon the first anniversary of the vesting commencement date, and the remaining options 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.
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.

Source: View Original Filing on SEC EDGAR