Form 4: Madryn Asset Management Reports Neuronetics Stake Changes

Madryn Asset Management, LP and affiliated entities have reported changes in their beneficial ownership of Neuronetics, Inc. common stock.

Summary

• Madryn Asset Management, LP, along with several affiliated entities including Madryn Health Partners II, LP, Madryn Health Partners II (Cayman Master), LP, Madryn Select Opportunities, LP, Madryn Health Advisors II, LP, and Madryn Health Advisors GP II, LLC, have filed a Form 4 detailing changes in their beneficial ownership of Neuronetics, Inc. common stock.
• The transactions, occurring on May 28, 2026, and June 15, 2026, involved the transfer of restricted stock units (RSUs) awarded to Avinash Amin as director compensation.
• These RSUs were transferred to the Madryn Funds for no consideration, as per their respective partnership agreements.
• Following these transactions, the total beneficial ownership of common stock for Madryn Asset Management, LP and its affiliates amounts to 1,433,024 shares (held by Health Partners), 17,069,598 shares (held by Cayman Master), and 2,264,439 shares (held by Select Opportunities) as of May 28, 2026.
• Further adjustments were made on June 15, 2026, resulting in 1,435,958 shares (Health Partners), 17,104,530 shares (Cayman Master), and 2,269,073 shares (Select Opportunities).

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it primarily reports on routine transfers of director compensation and does not contain new financial performance data or strategic shifts.

Positives

• The reporting entities, Madryn Asset Management, LP and its affiliates, are significant holders of Neuronetics, Inc. common stock, indicating continued strategic interest.
• The transfer of RSUs to the Madryn Funds, as per partnership agreements, demonstrates adherence to established governance and compensation structures.
• The transactions were made for no consideration, suggesting no immediate financial outflow for the Madryn Funds related to these specific transfers.

Negatives

• The filing does not provide specific financial performance data for Neuronetics, Inc., making it difficult to assess the company's underlying health.
• The nature of the transactions as transfers of director compensation RSUs does not reflect new investment or a change in the overall strategic direction of the company by Madryn.

Risks

• The filing does not explicitly mention any new risks or changes to existing risk factors for Neuronetics, Inc.

Future Outlook

No specific forward-looking statements or guidance from Neuronetics, Inc. are included in this Form 4 filing.

Management Comments

• 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.
• Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for significant shareholders and insiders, providing transparency on ownership changes. This filing indicates ongoing involvement of Madryn Asset Management, LP with Neuronetics, Inc., a company operating in the medical technology sector, specifically focusing on neurostimulation devices.

Related Party Transactions

• Transfer of restricted stock units (RSUs) awarded to Avinash Amin as director compensation to Madryn Funds (Madryn Health Partners II, LP, Madryn Health Partners II (Cayman Master), LP, and Madryn Select Opportunities, LP) for no consideration, as per partnership agreements.

Stakeholder Impact

• Shareholders: The filing provides transparency on the holdings of a significant entity, Madryn Asset Management, LP, which can influence investor perception.
• Management/Employees: The RSU transfer relates to director compensation, impacting the compensation structure for Avinash Amin.
• Creditors: No direct impact is indicated by this filing.

Next Steps

• Vesting of restricted stock units for Avinash Amin, with subsequent entitlement of shares to the Madryn Funds.

Key Dates

Keywords

Form 4, SEC Filing, Beneficial Ownership, Madryn Asset Management, Neuronetics, STIM, Common Stock, Restricted Stock Units, Director Compensation, Insider Trading