Madryn Health Partners II, LP 4

What Happened

• Madryn Asset Management, LP (reported as a 10% owner / investment advisor) reported a gift transfer on 2025-07-10 of 337,312 shares of Neuronetics, Inc. (STIM). The reported acquisition and disposition are both for 337,312 shares at $0.00, reflecting an internal transfer (no cash value exchanged).
• This was not an open-market purchase or sale by the investment advisor or an officer; it is an intra-fund transfer reported as a gift for administrative purposes and does not itself signal a bullish or bearish trade.

Key Details

• Transaction date: 2025-07-10; Form 4 filed: 2026-04-01 (late filing).
• Transaction type/code: G (Gift) — 337,312 shares moved; reported price per share: $0.00.
• Shares held after transaction: The filing reports holdings attributable to affiliated funds (see footnotes); specific aggregate post-transfer totals are reported as holdings of the underlying funds rather than personal ownership by the reporting persons.
• Notable footnotes: F1 states the transfer was between Madryn Health Partners II, LP and Madryn Health Partners II (Cayman Master), LP for fund administration. F3/F6 indicate the shares are held by those funds for which Madryn serves as investment advisor. F4/F5 clarify general partners and the reporting persons may be deemed beneficial owners but disclaim direct beneficial ownership except for pecuniary interest.
• Filing timeliness: The Form 4 was filed late (transaction in July 2025; filing in April 2026). Late filings can delay public visibility into insider/institutional transfers but do not change the nature of the underlying transaction.

Context

• Gifts and internal fund transfers are administrative and do not necessarily reflect investment intent; they are different from open-market purchases or sales by executives.
• As a 10% institutional owner and investment advisor, Madryn’s filing documents fund-level movements and advisory relationships rather than personal insider trading.