Zynex (ZYXI) equity wiped out as Chapter 11 plan takes effect

Rhea-AI Filing Summary

Zynex Inc. director Barry D. Michaels reported a disposition of 80,001 shares of common stock back to the company, leaving him with zero shares. The transaction was recorded at a price of $0.00 per share and is classified as a disposition to the issuer.

According to the confirmed Chapter 11 reorganization plan, all outstanding Zynex common shares, stock awards, options, warrants, and related rights were cancelled for no consideration when the plan became effective on March 26, 2026, resulting in no recovery for existing equity holders.

Positive

• None.

Negative

• All existing equity cancelled: The confirmed Chapter 11 reorganization plan cancels all outstanding common stock, options, warrants and related rights for no consideration, leaving existing equity holders with no recovery.

Insights

Bankruptcy and restructuring analyst

Chapter 11 plan cancels all Zynex equity with no recovery.

The disclosure shows that under Zynex’s confirmed Chapter 11 reorganization plan, all outstanding common stock and related equity instruments were cancelled for no consideration when the plan became effective. The director’s 80,001-share position went to zero through a disposition to the issuer at $0.00 per share.

This indicates a complete wipeout of existing equity holders, with no recovery provided under the plan. For investors, this means prior common stock and equity awards no longer represent any claim on the reorganized company. Future value, if any, would depend on whatever new securities structure exists after the plan, which is not detailed here.

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
Estimated average burden
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^*

MICHAELS BARRY 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	03/26/2026		D		80,001(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/ Barry D. Michaels	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)

FAQ

What insider transaction did Zynex (ZYXI) report in this Form 4?

The filing reports director Barry D. Michaels disposed of 80,001 shares of Zynex common stock back to the issuer at $0.00 per share, leaving him with zero shares following the transaction, as part of the company’s confirmed Chapter 11 restructuring plan.

How does the Chapter 11 plan affect Zynex (ZYXI) common shareholders?

Under the confirmed Chapter 11 reorganization plan, all outstanding Zynex common stock has been cancelled for no consideration. Existing shareholders receive no recovery, meaning their prior shares no longer represent any ownership or claim on the reorganized company.

What happens to Zynex (ZYXI) options, warrants, and equity awards under the plan?

The Chapter 11 plan cancels all options, warrants, equity awards and other rights related to Zynex common stock for no consideration. These instruments are of no further force and effect and provide no recovery or post-emergence value to prior holders under the plan.

When did Zynex’s Chapter 11 reorganization plan become effective?

The United States Bankruptcy Court confirmed Zynex’s Third Amended Combined Disclosure Statement and Joint Chapter 11 Plan on March 19, 2026. The plan became effective on March 26, 2026, at which point all existing equity and related rights were cancelled.

Why was Barry D. Michaels’ Zynex (ZYXI) share balance reduced to zero?

Barry D. Michaels’ 80,001 shares of Zynex common stock were disposed of to the issuer at $0.00 per share, leaving him with zero shares. This disposition reflects implementation of the confirmed Chapter 11 plan, which cancels all outstanding equity for no consideration.