Zynex (ZYXI) director loses all shares as Chapter 11 plan cancels equity

Rhea-AI Filing Summary

Zynex Inc director Michael D. Cress reported disposing of all his common stock holdings back to the company as part of its Chapter 11 restructuring. The filing shows issuer dispositions of 12,499 shares of restricted common stock and 82,501 shares of common stock, leaving him with zero shares.

According to the confirmed reorganization plan, all outstanding Zynex common shares, equity awards, options, warrants and related rights were cancelled for no consideration when the plan became effective on March 26, 2026. Existing shareholders received no recovery under this court-approved plan.

Positive

• None.

Negative

• Existing equity cancelled with no recovery: All outstanding Zynex common shares and equity awards were cancelled for no consideration under the confirmed Chapter 11 plan, leaving pre‑petition shareholders, including the reporting director, with no remaining ownership.

Insights

Bankruptcy and Restructuring Analyst

Form 4 confirms Zynex’s Chapter 11 plan wipes out existing equity.

The disclosure ties an insider’s share cancellation directly to Zynex’s confirmed Chapter 11 plan of reorganization. All outstanding common stock and equity-based awards, including options and warrants, were cancelled for no consideration when the plan became effective on March 26, 2026.

This means pre‑petition shareholders and award holders received no recovery under the plan, a typical outcome when creditors take control of the reorganized entity. The director’s position falling to zero shares illustrates that legacy equity has been fully eliminated under the court‑approved structure.

SEC Form 4

FORM 4

UNITED 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
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hours per response:			0.5

X

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^*

Cress Michael D

(Last) (First) (Middle)

9655 MAROON CIRCLE

(Street)

ENGLEWOOD COLORADO 80112

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ZYNEX INC [ ZYXI ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/26/2026

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

X	Form filed by One Reporting Person
	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock (Restricted Stock Award)	03/26/2026		D		12,499(1)	D	$0	0	D
Common Stock	03/26/2026		D		82,501(1)	D	$0	0	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Pursuant to the Issuer's Third Amended Combined Disclosure Statement and Joint Chapter 11 Plan of Reorganization of Zynex, Inc. and Its Affiliated Debtors Pursuant to Chapter 11 of the Bankruptcy Code (the "Plan") which was confirmed by the United States Bankruptcy Court for the Southern District of Texas on March 19, 2026 and became effective on March 26, 2026, all outstanding shares of the Issuer's common stock (including shares of common stock issuable under equity awards granted under the Issuer's equity incentive plans) and all other options, warrants and other rights with respect thereto, have been cancelled for no consideration and of no further force and effect with no recovery under the Plan.

	/s/ Michael Cress	03/27/2026
	** 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 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)