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Madryn funds (NASDAQ: STIM) reallocate 72,500 Neuronetics RSU shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Neuronetics, Inc. insider filing reports internal share transfers among investment funds advised by Madryn Asset Management related to director compensation. On May 28 and June 15, entities associated with Madryn reallocated a total of 72,500 shares of common stock, all coded as other acquisitions or dispositions.

The shares originated from restricted stock units awarded to director Avinash Amin, which are held for the benefit of Madryn Health Partners II, Madryn Health Partners II (Cayman Master), and Madryn Select Opportunities under their partnership agreements. Each transfer was made for no consideration and reflects reallocations among these funds rather than open‑market trades.

After these transactions, indirect holdings reported include 2,269,073 shares for one Madryn fund, 17,104,530 shares for another, and 1,435,958 shares for a third. The reporting persons state that they may be deemed to beneficially own these shares through advisory and general partner roles, but each disclaims beneficial ownership except to the extent of any pecuniary interest.

Positive

  • None.

Negative

  • None.
Insider Madryn Asset Management, LP, Madryn Health Partners II, LP, MADRYN HEALTH PARTNERS II (CAYMAN MASTER), LP, MADRYN HEALTH ADVISORS II, LP, MADRYN HEALTH ADVISORS GP II, LLC, Madryn Select Opportunities, LP
Role null | null | null | null | null | null
Type Security Shares Price Value
Other Common Stock 2,934 $0.00 --
Other Common Stock 34,932 $0.00 --
Other Common Stock 4,634 $0.00 --
Other Common Stock 2,071 $0.00 --
Other Common Stock 24,658 $0.00 --
Other Common Stock 3,271 $0.00 --
Holdings After Transaction: Common Stock — 1,435,958 shares (Indirect, See Footnotes)
Footnotes (1)
  1. Represents restricted stock units ("RSU") awarded to Avinash Amin as director compensation. Each RSU represents a contingent right to receive one share of the Issuer's common stock. Pursuant to the partnership agreements of each of Madryn Health Partners II, LP ("Health Partners"), Madryn Health Partners II (Cayman Master), LP ("Cayman Master") and Madryn Select Opportunities, LP ("Select Opportunities" and, together with Health Partners and Cayman Master, the "Madryn Funds"), Avinash Amin is deemed to hold the RSU for the benefit of the Madryn Funds, who are entitled to the shares of common stock underlying the RSUs upon vesting. Represents shares of common stock held by Health Partners, for which Madryn Asset Management, LP ("Madryn") serves as the investment advisor. Madryn Health Advisors II, LP ("Health Advisors"), as general partner of Health Partners and Cayman Master, and Madryn Health Advisors GP II, LLC, as general partner of Health Advisors, may be deemed to beneficially own the shares held directly by Health Partners and Cayman Master. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest. Represents shares of common stock held by Cayman Master, for which Madryn serves as the investment advisor. Represents shares of common stock held by Select Opportunities, for which Madryn serves as the investment advisor. Madryn Select Advisors, LP ("Select Advisors"), as general partner of Select Opportunities, and Madryn Select Advisors GP, LLC, as general partner of Select Advisors, may be deemed to beneficially own the shares held directly by Select Opportunities. The reported transactions involved a transfer of shares received by Avinash Amin as director compensation to each of the Madryn Funds as provided for in the respective partnership agreement of each Madryn Fund. Each transfer was made for no consideration.
Restructured shares 72,500 shares Total J-code restructuring transactions
Shares transferred 2026-06-15 entry 1 4,634 shares Common stock, indirect, other transaction
Shares transferred 2026-06-15 entry 2 34,932 shares Common stock, indirect, other transaction
Shares transferred 2026-06-15 entry 3 2,934 shares Common stock, indirect, other transaction
Shares transferred 2026-05-28 entry 1 3,271 shares Common stock, indirect, other transaction
Shares transferred 2026-05-28 entry 2 24,658 shares Common stock, indirect, other transaction
Shares transferred 2026-05-28 entry 3 2,071 shares Common stock, indirect, other transaction
Indirect holdings fund 1 2,269,073 shares Total shares following transaction
Indirect holdings fund 2 17,104,530 shares Total shares following transaction
Indirect holdings fund 3 1,435,958 shares Total shares following transaction
restricted stock units ("RSU") financial
"Represents restricted stock units ("RSU") awarded to Avinash Amin as director compensation."
beneficial ownership financial
"may be deemed to beneficially own the shares held directly by Health Partners and Cayman Master."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest."
investment advisor financial
"for which Madryn Asset Management, LP ("Madryn") serves as the investment advisor."
An investment advisor is a person or firm that provides personalized guidance on buying, selling and managing investments and often oversees client portfolios for a fee. For investors this matters because the advisor shapes risk, costs and long-term returns, and is typically required by law to act in the client’s best interests — think of them as a financial coach or GPS that helps navigate choices and avoid costly detours.
general partner financial
"as general partner of Health Partners and Cayman Master, and Madryn Health Advisors GP II, LLC, as general partner of Health Advisors"
A general partner is the person or firm that runs an investment partnership and legally represents it — they make the day-to-day decisions, choose which assets to buy or sell, and are responsible for the partnership’s obligations. Investors care because the general partner’s judgment, risk-taking and fee and profit-sharing arrangements determine both the potential returns and the level of exposure to losses; think of the GP as the ship’s captain whose skill and honesty shape the voyage’s outcome.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Madryn Asset Management, LP
(Last)(First)(Middle)
330 MADISON AVENUE - FLOOR 33
(Street)
NEW YORK NEW YORK 10017
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Neuronetics, Inc. [ STIM ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
DirectorX10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/28/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
XForm filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock05/28/2026J(1)2,071A$0.001,433,024(1)(2)ISee Footnotes(3)(4)
Common Stock05/28/2026J(1)24,658A$0.0017,069,598(1)(5)ISee Footnotes(3)(4)
Common Stock05/28/2026J(1)3,271A$0.002,264,439(1)(6)ISee Footnotes(4)(7)
Common Stock06/15/2026J(8)2,934A$0.001,435,958(1)(2)ISee Footnotes(3)(4)
Common Stock06/15/2026J(8)34,932A$0.0017,104,530(1)(5)ISee Footnotes(3)(4)
Common Stock06/15/2026J(8)4,634A$0.002,269,073(1)(6)ISee Footnotes(4)(7)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
1. Name and Address of Reporting Person*
Madryn Asset Management, LP
(Last)(First)(Middle)
330 MADISON AVENUE - FLOOR 33
(Street)
NEW YORK NEW YORK 10017
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
Madryn Health Partners II, LP
(Last)(First)(Middle)
330 MADISON AVENUE - FLOOR 33
(Street)
NEW YORK NEW YORK 10017
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
MADRYN HEALTH PARTNERS II (CAYMAN MASTER), LP
(Last)(First)(Middle)
330 MADISON AVENUE - FLOOR 33
(Street)
NEW YORK NEW YORK 10017
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
MADRYN HEALTH ADVISORS II, LP
(Last)(First)(Middle)
330 MADISON AVENUE - FLOOR 33
(Street)
NEW YORK NEW YORK 10017
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
MADRYN HEALTH ADVISORS GP II, LLC
(Last)(First)(Middle)
330 MADISON AVENUE - FLOOR 33
(Street)
NEW YORK NEW YORK 10017
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
Madryn Select Opportunities, LP
(Last)(First)(Middle)
330 MADISON AVENUE - FLOOR 33
(Street)
NEW YORK NEW YORK 10017
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
DirectorX10% Owner
Officer (give title below)Other (specify below)
Explanation of Responses:
1. Represents restricted stock units ("RSU") awarded to Avinash Amin as director compensation. Each RSU represents a contingent right to receive one share of the Issuer's common stock. Pursuant to the partnership agreements of each of Madryn Health Partners II, LP ("Health Partners"), Madryn Health Partners II (Cayman Master), LP ("Cayman Master") and Madryn Select Opportunities, LP ("Select Opportunities" and, together with Health Partners and Cayman Master, the "Madryn Funds"), Avinash Amin is deemed to hold the RSU for the benefit of the Madryn Funds, who are entitled to the shares of common stock underlying the RSUs upon vesting.
2. Represents shares of common stock held by Health Partners, for which Madryn Asset Management, LP ("Madryn") serves as the investment advisor.
3. Madryn Health Advisors II, LP ("Health Advisors"), as general partner of Health Partners and Cayman Master, and Madryn Health Advisors GP II, LLC, as general partner of Health Advisors, may be deemed to beneficially own the shares held directly by Health Partners and Cayman Master.
4. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest.
5. Represents shares of common stock held by Cayman Master, for which Madryn serves as the investment advisor.
6. Represents shares of common stock held by Select Opportunities, for which Madryn serves as the investment advisor.
7. Madryn Select Advisors, LP ("Select Advisors"), as general partner of Select Opportunities, and Madryn Select Advisors GP, LLC, as general partner of Select Advisors, may be deemed to beneficially own the shares held directly by Select Opportunities.
8. The reported transactions involved a transfer of shares received by Avinash Amin as director compensation to each of the Madryn Funds as provided for in the respective partnership agreement of each Madryn Fund. Each transfer was made for no consideration.
/s/ Matthew Girandola, as Authorized Signatory for Madryn Asset Management, LP06/17/2026
/s/ Matthew Girandola, as Authorized Signatory for Madryn Health Partners II, LP06/17/2026
/s/ Matthew Girandola, as Authorized Signatory for Madryn Health Partners II (Cayman Master), LP06/17/2026
/s/ Matthew Girandola, as Authorized Signatory for Madryn Health Advisors II, LP06/17/2026
/s/ Matthew Girandola, as Authorized Signatory for Madryn Health Advisors GP II, LLC06/17/2026
/s/ Matthew Girandola, as Authorized Signatory for Madryn Select Opportunities, LP06/17/2026
** Signature of Reporting PersonDate
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 4 (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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

How many Neuronetics (STIM) shares were restructured by Madryn funds?

The filing shows restructuring transactions covering a total of 72,500 Neuronetics common shares. These were moved among Madryn Health Partners II, Madryn Health Partners II (Cayman Master), and Madryn Select Opportunities under their partnership terms, rather than traded in the market.

Were the Neuronetics (STIM) share transfers by Madryn for cash consideration?

The reported transfers were made for no consideration. The filing explains that shares received as director compensation by Avinash Amin were transferred to Madryn funds under partnership agreements, indicating internal allocations rather than cash purchases or sales.

What does transaction code J mean in the Neuronetics (STIM) Form 4?

Transaction code J on this Form 4 indicates "other acquisition or disposition" of Neuronetics common stock. Here it reflects internal transfers of RSU-derived shares among Madryn-managed funds, not standard open-market buy or sell transactions at a stated share price.

What are Madryn funds’ indirect Neuronetics (STIM) holdings after these transactions?

Post-transaction, the filing reports indirect holdings of 2,269,073 shares for one Madryn fund, 17,104,530 for another, and 1,435,958 for a third. These positions reflect shares held by the funds, with Madryn in advisory and general partner roles.

How are Avinash Amin’s RSU awards treated for Neuronetics (STIM)?

The RSU awards to director Avinash Amin are held for the benefit of Madryn funds. Under the funds’ partnership agreements, the funds are entitled to the Neuronetics common shares underlying the RSUs upon vesting, and transfers to the funds follow these arrangements.