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Investor Jorey Chernett filed an amended Schedule 13G reporting his beneficial ownership in Neuronetics, Inc. common stock. He reports holding 6,827,031 shares, with sole power to vote and dispose of all of these shares and no shared voting or dispositive power.
This stake exceeds the 5% threshold that requires public disclosure but is certified as not intended to change or influence control of Neuronetics. The filing lists Chernett as a U.S. individual investor and indicates no group, subsidiaries, or other persons on whose behalf the shares are held.
Neuronetics, Inc. entered into Amendment No. 4 to its existing Credit Agreement and Guaranty with Perceptive Credit Holdings IV, LP and other lenders. This amendment changes how the company’s subsidiaries are required to join the credit facility as an “Obligor” and “Subsidiary Guarantor”, affecting which subsidiaries must guarantee the company’s debt under this agreement.
The amendment is part of the company’s ongoing relationship with Perceptive and adjusts the guarantee structure rather than creating a new financing arrangement. The full legal terms are contained in the amendment, which is filed as an exhibit to this report.
Neuronetics, Inc. reported that its Compensation Committee approved new cash and restricted stock unit awards for two senior executives. Steven E. Pfanstiel, Executive Vice President, Chief Financial Officer and Treasurer, received a cash award of $240,000 and 170,212 restricted stock units. W. Andrew Macan, Executive Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary, received a cash award of $231,750 and 164,361 restricted stock units. The cash awards will be paid and the RSUs will vest on the earlier of June 30, 2027 or a termination of employment without cause.
Neuronetics (STIM) reported Q3 2025 results. Revenue rose to $37.3 million from $18.5 million, reflecting the Greenbrook acquisition and a new services mix. U.S. clinic revenue contributed $21.8 million (60% of U.S. revenue), while treatment sessions were $10.5 million and NeuroStar systems were $3.5 million.
Gross profit was $17.1 million versus $14.0 million a year ago. The company posted a loss from operations of $7.3 million and a net loss of $9.4 million, improving from a $13.3 million net loss last year. EPS was ($0.13) versus ($0.44).
Liquidity strengthened through a February secondary offering of 9.2 million shares at $2.25 (net proceeds $18.9 million) and an at-the-market program that sold 2,261,835 shares for gross $8.3 million (net $7.8 million), leaving about $41.7 million available. Cash and cash equivalents were $28.0 million with $6.5 million restricted, and long-term debt, net, was $65.7 million; $70.0 million is outstanding under the Perceptive facility maturing in July 2029. Shares outstanding were 68.5 million as of October 29, 2025.
Neuronetics, Inc. (STIM) filed an 8-K announcing it furnished a press release with financial results for the three months ended September 30, 2025 (Exhibit 99.1) and an investor presentation (Exhibit 99.2). The materials are furnished, not filed, under the Exchange Act.
The company also disclosed a planned leadership transition: President & CEO Keith J. Sullivan intends to retire on June 30, 2026. A search for his successor has begun. He will continue in his role until a successor is appointed and then serve as a consultant to support a seamless transition. The company stated his decision was not due to any dispute or disagreement.
Neuronetics (STIM) reported an insider equity award on Form 4. A director acquired 10,531 shares of common stock on 10/20/2025 through a restricted stock unit award that vested immediately, elected in lieu of a cash retainer. The transaction was recorded at $0 per unit, consistent with RSU grants.
Following this transaction, the director’s beneficial ownership stands at 588,767 shares, held directly.
Neuronetics, Inc. (STIM) reported an insider equity award. On 10/20/2025, a director acquired 7,326 shares of common stock at $0, coded “A,” under the company’s non-employee director compensation plan. The award reflects an election to receive stock in lieu of a cash retainer, delivered as restricted stock units that vested immediately upon grant, with each RSU equal to one share.
Following the transaction, the director beneficially owned 221,716 shares, held directly.
Neuronetics, Inc. (STIM) reported an insider equity award by a director. On 10/20/2025, the director acquired 7,554 shares of common stock via a restricted stock unit (RSU) grant at $0 under the non-employee directors compensation plan, electing stock in lieu of a cash retainer.
The RSU award vested immediately upon grant, with each RSU representing one share. Following the transaction, the director’s beneficial ownership stands at 371,816 shares, held directly.
Neuronetics, Inc. (STIM) reported an insider transaction by a director. On 10/20/2025, the director acquired 6,410 shares of common stock via a restricted stock unit (RSU) grant that vested immediately and was elected in lieu of a cash retainer under the non-employee directors compensation plan. The RSU acquisition price was $0, with each RSU representing one share.
Following the transaction, the director beneficially owned 1,512,798 shares directly. The filing also lists indirect beneficial ownership of 516,084 shares through Greybrook Health Inc. and 2,042 shares through Greybrook Realty Partners Inc.
Madryn and affiliated funds report beneficial ownership of 20,737,061 shares of Neuronetics, Inc. common stock, representing approximately 31.4% of the outstanding shares based on 66,124,820 shares outstanding as of July 31, 2025. The Schedule 13D/A amends a prior filing and consolidates holdings across multiple Madryn entities and advisers while clarifying that Madryn and the advisors may be deemed to have indirect beneficial ownership through their advisory and partnership roles.
The amendment also discloses executed sales: MHP II, MHP II Cayman and MSO sold specified tranches of shares under Rule 144 at about $3.72 per share, and it notes that Covered Persons generally disclaim beneficial ownership except that Avinash Amin holds 12,500 shares (<1%) directly.