# EDGAR Filing Document

**Accession Number:** 0001609580
**File Stem:** 0001437749-25-037250
**Filing Date:** 2025-12
**Character Count:** 22341
**Document Hash:** d47bf3e1786cb44366699e7cd8556288
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-25-037250.hdr.sgml**: 20251209

**ACCESSION NUMBER**: 0001437749-25-037250

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251209

**DATE AS OF CHANGE**: 20251209

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN SHARED HOSPITAL SERVICES
- **CENTRAL INDEX KEY:** 0000744825
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MEDICAL LABORATORIES [8071]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 942918118
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-36214
- **FILM NUMBER:** 251558813

**BUSINESS ADDRESS:**
- **STREET 1:** 601 MONTGOMERY STREET
- **STREET 2:** SUITE 1112
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111
- **BUSINESS PHONE:** 415-788-5300

**MAIL ADDRESS:**
- **STREET 1:** 601 MONTGOMERY STREET
- **STREET 2:** SUITE 1112
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Stachowiak Raymond C
- **CENTRAL INDEX KEY:** 0001609580

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**MAIL ADDRESS:**
- **STREET 1:** C/O ASHS
- **STREET 2:** 2 EMBARCADERO CENTER-SUITE 410
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111

## Ex-99

**Exhibit 99.1**

JOINT FILING AGREEMENT

Pursuant to and in accordance with the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder (the "***Exchange Act***"), the undersigned hereby agree to the joint filing on behalf of each of them of any filing required by such party under Section 13 of the Exchange Act or any rule or regulation thereunder (including any amendment, restatement, supplement, and/or exhibit thereto) with respect to securities of American Shared Hospital Services, a California corporation, and further agree, in accordance with Rule 13d-1(k) under the Exchange Act, to the filing, furnishing, and/or incorporation by reference of this Joint Filing Agreement (this "***Agreement***") as an exhibit thereto. The undersigned acknowledge and agree that each party to this Agreement is responsible for the timely filing of such filings and any amendments thereto, and for the completeness and accuracy of the information concerning such party contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other parties making the filing, unless such party knows or has reason to believe that such information is inaccurate. This Agreement shall remain in full force and effect until revoked by any party hereto in a signed writing provided to each other party hereto, and then only with respect to such revoking party. This Agreement may be executed in any number of counterparts all of which taken together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of May 3, 2023.

*<u>/s/ Raymond C. Stachowiak</u>*<u> </u><br> Raymond C. Stachowiak, *individually*<br>**RCS INVESTMENTS, INC.**<br>By: *<u>/s/ Raymond C. Stachowiak</u>*<u> </u><br> Raymond C. Stachowiak<br> President<br>**STACHOWIAK EQUITY FUND, LLC**<br>By: *<u>/s/ Raymond C. Stachowiak</u>*<u> </u><br> Raymond C. Stachowiak<br> Manager<br>

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 8)**

**AMERICAN SHARED HOSPITAL SERVICES**

*(Name of Issuer)*

**Common Stock, no par value**

*(Title of Class of Securities)*

**029595105**

*(CUSIP Number)*

**Raymond C. Stachowiak**<br>601 Montgomery Street<br>Suite 850<br>San Francisco CA 94111<br>(415) 788-5300

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**10/01/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **029595105** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Stachowiak Raymond C** | Name of reporting person<br>**Stachowiak Raymond C** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**641678.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**919059.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**641678.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**919059.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1560737.00** | Aggregate amount beneficially owned by each reporting person<br>**1560737.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**23.7%** | Percent of class represented by amount in Row (11)<br>**23.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** (1)	Includes 72,678 shares of common stock, no par value (the ";Common Stock") of American Shares Hospital Services (the "Issuer") that are issuable to Mr. Stachowiak upon the exercise of stock options and vesting of restricted stock units within 60 days of October 3, 2025, the filing date of this Schedule 13D/A (the "Filing Date").

(2)	Includes 158,500 shares of Common Stock owned by RCS Investments, Inc. ("RCS"), of which Mr. Stachowiak is the president. RCS is wholly owned by the Raymond C Stachowiak Revocable Trust dated November 19, 1998 (the "Stachowiak Trust"), of which Mr. Stachowiak is the sole trustee and, in such capacity, may direct the voting and investment of the securities held by RCS. In his capacity as owner-president of RCS, Mr. Stachowiak may be deemed to have or share beneficial ownership of the shares of Common Stock held of record by RCS.

(3)	Includes 760,559 shares of Common Stock owned by Stachowiak Equity Fund, LLC ("Stachowiak Equity"), of which Mr. Stachowiak is the manager. Stachowiak Equity is owned 60% by the Stachowiak Trust, of which Mr. Stachowiak is the sole trustee, and 20% by each of two trusts established for Mr. Stachowiak's children, of which Mr. Stachowiak's spouse is the sole trustee. In his capacity as owner-manager of Stachowiak Equity, Mr. Stachowiak may be deemed to have or share beneficial ownership of the shares of Common Stock held of record by Stachowiak Equity.

(4)	This percentage was calculated in accordance with the U.S. Securities and Exchange Commission (the "SEC") rules for calculating percentages of beneficial ownership, based on the Issuer having an aggregate of 6,510,000 shares of Common Stock issued and outstanding as of August 11, 2025, as reported by the Issuer in its Quarterly Report on Form 10-Q filed with the SEC on August 13, 2025 (the "Quarterly Report") and includes 72,678 Common Shares that Mr. Stachowiak has the right to acquire within 60 days of the Filing Date upon the exercise of stock options and vesting of restricted stock units.

| **CUSIP No.** | **029595105** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**RCS Investments, Inc.** | Name of reporting person<br>**RCS Investments, Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**158500.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**158500.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**158500.00** | Aggregate amount beneficially owned by each reporting person<br>**158500.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**2.4%** | Percent of class represented by amount in Row (11)<br>**2.4%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** (1)	This percentage is based on the Issuer having an aggregate of 6,510,000 shares of Common Stock issued and outstanding as of August 11, 2025, as reported in the Issuer's Quarterly Report.

| **CUSIP No.** | **029595105** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Stachowiak Equity Fund, LLC** | Name of reporting person<br>**Stachowiak Equity Fund, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**760559.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**760559.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**760559.00** | Aggregate amount beneficially owned by each reporting person<br>**760559.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**11.7%** | Percent of class represented by amount in Row (11)<br>**11.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** (1)	This percentage is based on the Issuer having an aggregate of 6,510,000 shares of Common Stock issued and outstanding as of August 11, 2025, as reported in the Issuer's Quarterly Report.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, no par value

**(b) Name of Issuer:**
AMERICAN SHARED HOSPITAL SERVICES

**(c) Address of Issuer's Principal Executive Offices:**
601 MONTGOMERY STREET, SUITE 850, SAN FRANCISCO, CA, 94111

EXPLANATORY NOTE

This Schedule 13D/A constitutes Amendment No. 8 (this "Schedule 13D/A No. 8") to the original Schedule 13D dated June 17, 2014, as amended on October 28, 2014, February 16, 2016, May 21, 2019, May 4, 2020, May 3, 2023, April 3, 2024, and January 3, 2025 (as amended, the "Original Schedule 13D"), filed with the U.S. Securities and Exchange Commission (the "SEC") by Mr. Raymond C. Stachowiak, a member and the Executive Chairman of the board of directors (the "Board") of American Shared Hospital Services, a California corporation (the "Issuer"). The Original Schedule 13D reported Mr. Stachowiak's ownership of the Issuer's common stock, no par value (the "Common Stock"), both directly and indirectly through RCS Investments, Inc., an Illinois corporation ("RCS"), of which Mr. Stachowiak is the owner-president, and Stachowiak Equity Fund, LLC, an Illinois limited liability company ("Stachowiak Equity"; together with RCS and Mr. Stachowiak, the "Reporting Persons," and each, a "Reporting Person"), of which Mr. Stachowiak is the owner-manager.

This Schedule 13D/A No. 8 is being filed to report the shares of Common Stock (the "Common Shares") that Mr. Stachowiak has acquired since filing Amendment No. 7 to the Original Schedule 13D with the SEC on January 3, 2025 (the "Schedule 13D/A No. 7"). This Schedule 13D/A No. 8 also updates the percentage of beneficial ownership reported for RCS and Stachowiak Equity, which immaterially decreased due to an increase in the Issuer's total number of issued and outstanding Common Shares since the Schedule 13D/A No. 7 was filed. Only those items that are hereby reported are amended; all other items reported in the Original Schedule 13D remain unchanged. Information given in response to each item shall be deemed incorporated by reference in all other items, as applicable. Capitalized terms not defined in this Schedule 13D/A No. 8 have the meanings ascribed to them in the Original Schedule 13D.

**Item 4. Purpose of Transaction**

This Schedule 13D/A No. 8 amends and restates Item 4 of the Original Schedule 13D as follows:

The information reported in Item 3 of this Schedule 13D/A No. 8 is incorporated by reference into this Item 4. The Common Shares reported as beneficially owned by the Reporting Persons will be held for investment purposes.

Before Mr. Stachowiak became an officer and director of the Issuer, the securities acquired by Mr. Stachowiak were primarily acquired through purchases using his personal funds. After Mr. Stachowiak became an officer of the Issuer, Mr. Stachowiak acquired Common Shares from the Issuer as partial compensation for his service as a director and officer.

Mr. Stachowiak is a director and the Executive Chairman of the Board of the Issuer, the owner-president of RCS, and the owner-manager of Stachowiak Equity. Except as set forth herein and to the extent that Mr. Stachowiak may have influence over the corporate activities of the Issuer, including activities that may relate to the items described in subparagraphs (a) through (j) of Item 4 of Schedule 13D, the Reporting Persons do not have any present plan or proposal that relate to or would result in any of the matters set forth in subparagraphs (a) through (j) of Item 4 of Schedule 13D.

The Reporting Persons reserve the right to increase or decrease their position in the Issuer through, among other things, the purchase or sale of securities of the Issuer on the open market or in private transactions or otherwise on such terms and at such times as the Reporting Persons may deem advisable. The Reporting Persons reserve the right to change their intention with respect to any and all matters referred to in this Item 4.

**Item 5. Interest in Securities of the Issuer**

**(a)**
This Schedule 13D/A No. 8 amends and restates Item 5 of the Original Schedule 13D as follows:

The information below reports the aggregate number of Common Shares beneficially owned by each Reporting Person, the total issued and outstanding Common Shares ( the "Total I&amp;O Amount") used to calculate each Reporting Person's percentage of beneficial ownership in accordance with the SEC rules for calculating percentages of beneficial ownership, and each Reporting Person's percentage of beneficial ownership as of the Filing Date of this Schedule 13D/A No. 8.

Reporting Person - Mr. Stachowiak(1)
Aggregate Number of Common Shares Beneficially Owned - 1,560,737
Total I&amp;O Amount of Common Shares - 6,582,678 (2)
Beneficial Ownership Percentage - 23.7%

Reporting Person - RCS
Aggregate Number of Common Shares Beneficially Owned - 158,500
Total I&amp;O Amount of Common Shares - 6,510,000(3)
Beneficial Ownership Percentage - 2.4%

Reporting Person - Stachowiak Equity
Aggregate Number of Common Shares Beneficially Owned - 760,559
Total I&amp;O Amount of Common Shares - 6,510,000(3)
Beneficial Ownership Percentage - 11.7%

(1) Mr. Stachowiak's beneficial ownership includes his direct beneficial holdings as well as his indirect beneficial holdings as the (i) owner-president of RCS, and (ii) owner-manager of Stachowiak Equity.

(2) Mr. Stachowiak's Total I&amp;O Amount consists of the (i) 6,510,000 Common Shares reported by the Issuer as being issued and outstanding as of August 11, 2025, as reported by the Issuer in its Quarterly Report, and (ii) 72,678 Common Shares that Mr. Stachowiak has the right to acquire within 60 days of the Filing Date of this Schedule 13D/A No. 8 upon the exercise of stock options and vesting of restricted stock units.

(3) The Reporting Person's Total I&amp;O Amount is equal to the 6,510,000 Common Shares reported by the Issuer as being issued and outstanding in its Quarterly Report.

**(b)**
With respect to each Reporting Person as of the Filing Date, the information below reports the number of Common Shares as to which there is sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the disposition. Each Reporting Person expressly disclaims beneficial ownership of all of the Common Shares reported in this Schedule 13D/A No. 8 except to the extent of such Reporting Person's pecuniary interest therein, and the filing of this Schedule 13D/A No. 8 shall not be construed as an admission that any such Reporting Person is, for purposes of Sections 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, the beneficial owner of any securities covered by this Schedule 13D/A No. 8.

Reporting Person - Mr. Stachowiak
Sole Voting Power - 641,678
Shared Voting Power - 919,059(1)
Sole Dispositive Power - 641,678
Shared Dispositive Power - 919,059(1)
Total Beneficially Owned - 1,560,737

Reporting Person - RCS
Sole Voting Power - 0
Shared Voting Power - 158,500
Sole Dispositive Power - 0
Shared Dispositive Power - 158,500
Total Beneficially Owned - 158,500

Reporting Person - Stachowiak Equity
Sole Voting Power - 0
Shared Voting Power - 760,559
Sole Dispositive Power - 0
Shared Dispositive Power - 760,559
Total Beneficially Owned - 760,559

(1) Includes: (i) 158,500 Common Shares held of record by RCS, which Mr. Stachowiak may be deemed to have or share voting and investment power over in his capacity as president of RCS and as the sole trustee of the Raymond C Stachowiak Revocable Trust dated November 19, 1998 (the "Stachowiak Trust"), which is the sole owner of RCS; and (ii) 760,559 Common Shares held of record by Stachowiak Equity, which is owned 60% by the Stachowiak Trust, of which Mr. Stachowiak is the sole trustee, and 20% by each of two trusts established for Mr. Stachowiak's children (the "Stachowiak Children Trusts"), of which Mr. Stachowiak's spouse is the sole trustee. The principal address of the Stachowiak Children Trusts is 7N120 Weybridge Drive, St. Charles, Illinois 60175. The principal business of the Stachowiak Children Trusts is to make and hold investments in securities and other assets. No other information required by Item 2 with respect to the Stachowiak Children Trusts is applicable.

**(c)**
Except as described in Item 3, Item 6, or elsewhere in this Schedule 13D/A No. 8, no transactions in the Common Shares reported in this Schedule 13D/A No. 8 were effected by the Reporting Persons during the past 60 days.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Except as otherwise set forth in this Schedule 13D/A No. 8, there are no contracts, arrangements, understandings, or similar relationships existing with respect to the securities of the Issuer between the Issuer and the Reporting Persons.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Stachowiak Raymond C

**Signature:** /s/ Raymond C. Stachowiak

**Name/Title:** Raymond C. Stachowiak, individually

**Date:** 12/09/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** RCS Investments, Inc.

**Signature:** /s/ Raymond C. Stachowiak

**Name/Title:** Raymond C. Stachowiak/President

**Date:** 12/09/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Stachowiak Equity Fund, LLC

**Signature:** /s/ Raymond C. Stachowiak

**Name/Title:** Raymond C. Stachowiak/Manager

**Date:** 12/09/2025