Neuronetics, Inc. filings document the public reporting record for a Nasdaq-listed medical technology and healthcare company with common stock traded under STIM. Recent Form 8-K reports furnish operating results, investor presentation materials, executive appointments and retirements, compensation arrangements, restructuring charges, and material agreements tied to credit facilities and registration rights.
The company’s proxy materials describe annual meeting voting matters, director elections, auditor ratification, advisory executive compensation votes, and equity incentive plan approvals. Together with event reports, the filings disclose governance procedures, capital-structure matters, Nasdaq-listed security information, and contractual obligations associated with Neuronetics’ medical device and clinic-services operations.
Neuronetics, Inc. reported that its Board and Compensation Committee approved annual cash incentive awards for three senior executives. On February 23, 2026, the Compensation Committee approved cash incentives of $73,216.44 for Executive Vice President and Chief Financial Officer Steven E. Pfanstiel and $163,383.75 for Executive Vice President, Chief Legal Officer, and Corporate Secretary W. Andrew Macan.
On the same date, the Board, following the Compensation Committee’s recommendation, approved an annual cash incentive award of $412,775.95 for President and Chief Executive Officer Keith J. Sullivan. The company stated that these cash incentive awards will be paid on or about March 13, 2026.
Neuronetics, Inc. reported that EVP, CFO and Treasurer Steven Pfanstiel acquired an award of 250,000 shares of common stock in the form of restricted stock units. The award was granted at no purchase price.
The RSUs vest in three equal annual installments beginning on February 23, 2027, as long as he remains in continuous service through each vesting date. After this grant, his directly held common stock position reported in the filing totals 820,212 shares.
Neuronetics, Inc. reported that executive vice president, chief legal officer and corporate secretary William Andrew Macan acquired 210,000 restricted stock units (RSUs) of common stock as an equity award. Each RSU represents the right to receive one Neuronetics common share.
The RSU award vests in three equal annual installments beginning on February 23, 2027, subject to Mr. Macan’s continuous service through each vesting date. Following this grant, he directly holds 883,561 shares of Neuronetics common stock. This is a non-cash, stock-based compensation grant rather than an open‑market purchase.
Neuronetics, Inc. director and CEO Keith J. Sullivan reported an open-market sale of 33,847 shares of common stock at a weighted average price of $1.65 per share. After this transaction, he directly holds 1,533,165 shares of Neuronetics common stock.
According to the footnotes, these were non-discretionary sales made solely to satisfy the reporting person's tax withholding obligation upon vesting of a restricted stock unit award. The shares were sold in multiple trades at prices ranging from $1.56 to $1.72 per share.
Neuronetics, Inc. executive William Andrew Macan reported an open-market sale of 14,120 shares of common stock at a weighted average price of $1.65 per share on February 12, 2026. According to the disclosure, these were non-discretionary sales made solely to cover tax withholding obligations triggered by the vesting of a restricted stock unit award.
After this transaction, Macan beneficially owned 673,561 shares of Neuronetics common stock directly. The price range for the individual trades was between $1.56 and $1.72 per share, with the insider indicating that detailed trade breakdowns are available upon request.
Neuronetics, Inc. executive William Andrew Macan, EVP, CLO and CS, reported selling 3,485 shares of common stock on February 10, 2026. The Form 4 notes these were non-discretionary sales made solely to satisfy tax withholding on the vesting of a restricted stock unit award, at a weighted average price of $1.55 per share. After this transaction, Macan directly beneficially owned 687,681 shares of Neuronetics common stock.
Neuronetics, Inc. President and CEO Keith J. Sullivan reported an open-market sale of 40,976 shares of common stock on February 10, 2026 at a weighted average price of $1.55 per share. According to the disclosure, these were non-discretionary sales made solely to satisfy his tax withholding obligation upon the vesting of a portion of a restricted stock unit award.
After this transaction, Sullivan directly beneficially owned 1,567,012 shares of Neuronetics common stock.
STIM shareholder Keith Sullivan filed a notice of proposed sale of 33,847 shares of common stock. The shares are expected to be sold through Fidelity Brokerage Services on NASDAQ around 02/12/2026, with an indicated aggregate market value of $55,712.16.
The 33,847 shares came from restricted stock that vested on 02/09/2026 as compensation from the issuer. The filing notes 68,485,922 common shares outstanding. Over the prior three months, Sullivan also sold 40,976 common shares for gross proceeds of $63,398.07.
STIM shareholder William A. Macan has filed a Form 144 notice to sell up to 14,120 shares of common stock. The proposed sale, with an aggregate market value of $23,241.52, is planned through Fidelity Brokerage Services LLC on the NASDAQ, with an approximate sale date of 02/12/2026.
The shares were acquired on 02/06/2026 through restricted stock vesting from the issuer as compensation. Over the prior three months, Macan sold 3,485 common shares for gross proceeds of $5,391.99. The filing also states that the seller represents having no undisclosed material adverse information about STIM.
Neuronetics, Inc. reported selected preliminary, unaudited results showing strong growth for the fourth quarter and full year 2025. Fourth quarter 2025 revenue was $41.8 million, up 23% on an adjusted pro‑forma basis and 86% versus reported fourth quarter 2024. NeuroStar revenue was $18.3 million, with 49 NeuroStar Advanced Therapy systems shipped, while clinic revenue reached $23.5 million, up 37% on an adjusted pro‑forma basis.
For full year 2025, revenue was $149.2 million, a 15% increase on an adjusted pro‑forma basis and 99% higher than reported 2024. Full year NeuroStar revenue was $62.2 million, and clinic revenue was $87.0 million, up 28% on an adjusted pro‑forma basis. The company generated positive operating cash flow of $0.9 million in the quarter and ended 2025 with $34.1 million in total cash.