# EDGAR Filing Document

**Accession Number:** 0002030617
**File Stem:** 0001829126-26-000595
**Filing Date:** 2026-1
**Character Count:** 29167
**Document Hash:** 0f3aefc7e94d2d735517fab4ae84bd35
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001829126-26-000595.hdr.sgml**: 20260127

**ACCESSION NUMBER**: 0001829126-26-000595

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 16

**FILED AS OF DATE**: 20260127

**DATE AS OF CHANGE**: 20260127

**EFFECTIVENESS DATE**: 20260127

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Picard Medical, Inc.
- **CENTRAL INDEX KEY:** 0002030617
- **STANDARD INDUSTRIAL CLASSIFICATION:** SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-292985
- **FILM NUMBER:** 26565441

**BUSINESS ADDRESS:**
- **STREET 1:** 1992 E. SILVERLAKE RD.
- **CITY:** TUCSON
- **STATE:** AZ
- **ZIP:** 85713
- **BUSINESS PHONE:** 520-308-0796

**MAIL ADDRESS:**
- **STREET 1:** 1992 E. SILVERLAKE RD.
- **CITY:** TUCSON
- **STATE:** AZ
- **ZIP:** 85713

**As filed with the United States Securities and Exchange Commission on January 27, 2026.**

**Registration No: 333-** 

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT<br> UNDER THE SECURITIES ACT OF 1933**

**Picard Medical, Inc.** **** <br> (Exact Name of Registrant as Specified in its Charter)

---

| | |
|:---|:---|
| **Delaware** | **86-3212894** |
| (State or Other Jurisdiction of<br> Incorporation or Organization) | (I.R.S. Employer<br> Identification Number) |

---

---

| | |
|:---|:---|
| **1992 E Silverlake<br> Tucson AZ** | **85713** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

**Amended and Restated 2021 Equity Incentive Plan**

(Full Title of Plans)

**Patrick NJ Schnegelsberg**

**Chief Executive Officer<br> Picard Medical, Inc.**

**1992 E Silverlake<br> Tucson AZ, 85713**

**(520) 545-1234**

(Name, address, and telephone number, including area code, of agent for service)

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer", "accelerated filer", "smaller reporting company", and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☐ Smaller reporting company ☒ <br> Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**Part I**

**INFORMATION REQUIRED IN THE**

**SECTION 10(a) PROSPECTUS**

The documents containing information specified by Part I of Form S-8 will be sent or given to participants in the Amended and Restated 2021 Equity Incentive Plan (the "Plan"), as specified in Rule 428(b)(1) promulgated by the Securities and Exchange Commission (the "Commission") under the Securities Act of 1933, as amended (the "Securities Act"). Such documents are not being filed with the Commission but constitute (along with the documents incorporated by reference into this Registration Statement on Form S-8 (this "Registration Statement") pursuant to Item 3 of Part II hereof), a prospectus that meets the requirements of Section 10(a) of the Securities Act.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 3. Incorporation of Documents by Reference**

The following documents that Picard Medical, Inc. (the "Company" or "we") has filed with the Commission under the Securities Act and the Securities Exchange Act of 1934 (the "Exchange Act") are incorporated by reference into this Registration Statement:

● The Company's Prospectus filed pursuant to [Rule 424(b)(4)](https://www.sec.gov/Archives/edgar/data/2030617/000182912625006957/picardmedical_424b4.htm) filed with the Commission on September 2, 2025.

● The Company's Quarterly Reports on Form 10-Q for the quarters ended June 30, 2025 and September 30, 2025, filed with the Commission on [September 12, 2025](http://www.sec.gov/ix?doc=/Archives/edgar/data/2030617/000182912625007334/picardmedical_10q.htm) and [November 14, 2025](http://www.sec.gov/ix?doc=/Archives/edgar/data/2030617/000143774925034982/pmi20250930_10q.htm) , respectively;

● The Company's Current Reports on Form 8-K filed on [September 4, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/2030617/000182912625007057/picardmedical_8k.htm) , [September 10, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/2030617/000182912625007290/picardmedical_8k.htm) , [October 14, 2025,](http://www.sec.gov/ix?doc=/Archives/edgar/data/2030617/000182912625008062/picardmedical_8k.htm) [October 27, 2025](http://www.sec.gov/ix?doc=/Archives/edgar/data/2030617/000182912625008412/picardmedical_8k.htm) , [November 14, 2025](http://www.sec.gov/ix?doc=/Archives/edgar/data/2030617/000182912625009146/picardmedical_8k.htm) , [November 19, 2025,](https://www.sec.gov/ix?doc=/Archives/edgar/data/2030617/000182912625009304/picardmedical_8k.htm) [November 26, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/2030617/000182912625009479/picardmedical_8k.htm) (one announced entry into an [unsecured promissory note](https://www.sec.gov/Archives/edgar/data/2030617/000182912625009479/picardmedical_ex10-1.htm) and the other one announced [Duffy Elmer's presentation on the Emperor Total Artificial Heart at the 31st Annual Meeting of the International Society for Mechanical Circulatory Support](https://www.sec.gov/Archives/edgar/data/2030617/000182912625009457/picardmedical_ex99-1.htm)), [December 3, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/2030617/000182912625009661/picardmedical_8k.htm) , [December 4, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/2030617/000182912625009690/picardmedical_8k.htm) , [December 9, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/2030617/000182912625009836/picardmedical_8k.htm) , [December 18, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/2030617/000182912625010129/picardmedical_8k.htm) , [December 30, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/2030617/000182912625010336/picardmedical_8k.htm) , and January 13, 2026 (one published an [investor presentation](https://www.sec.gov/Archives/edgar/data/2030617/000182912626000265/picardmedical_ex99-1.htm) and the other one announced the launch of the [Cruxx to MedTech Podcast](https://www.sec.gov/Archives/edgar/data/2030617/000182912626000280/picardmedical_ex99-1.htm) , a series exploring the SynCardia Total Artificial Heart and the Emperor device); and

● The description of the Company's common stock contained in the Company's Registration Statement on [Form 8-A](https://www.sec.gov/Archives/edgar/data/2030617/000182912625006052/picardmedical_8a12b.htm) filed with the Commission on August 11, 2025, including any amendment or report filed for purposes of updating the description.

All reports and other documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment to this Registration Statement that indicates that all securities offered have been sold or that deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part thereof from the date of filing of such documents with the Commission. Any statement contained in a document incorporated, or deemed to be incorporated, by reference in this Registration Statement shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained in this Registration Statement, or in any other subsequently filed document that also is or is deemed to be incorporated by reference in this Registration Statement, modifies or supersedes such prior statement. Any statement contained in this Registration Statement shall be deemed to be modified or superseded to the extent that a statement contained in a subsequently filed document that is, or is deemed to be incorporated, by reference in this Registration Statement modifies or supersedes such prior statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

No document or information deemed to be furnished and not filed in accordance with the rules of the Commission shall be deemed to be incorporated herein by reference unless such document or information expressly provides to the contrary.

**Item 4. Description of Securities**

Not applicable.

**Item 5. Interests of Named Experts and Counsel**

Not applicable.

**Item 6. Indemnification of Directors and Officers**

Subsection (a) of Section 145 of the Delaware General Corporation Law (referred to as the "DGCL") provides that a corporation may indemnify any person who was or is a party or who is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation or enterprise, against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection with such action, suit or proceeding if the person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe the person's conduct was unlawful.

Subsection (b) of Section 145 provides that a Delaware corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that the person acted in any of the capacities set forth above, against expenses (including attorneys' fees) actually and reasonably incurred by the person in connection with the defense or settlement of such action or suit if the person acted under similar standards, except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to be indemnified for such expenses which the court shall deem proper.

Section 145 of the DGCL further provides that (i) to the extent that a former or present director or officer of a corporation has been successful on the merits or otherwise in the defense of any action, suit or proceeding referred to in subsections (a) and (b) of Section 145, or in defense of any claim, issue or matter therein, such person shall be indemnified against expenses (including attorneys' fees) actually and reasonably incurred by such person in connection therewith; (ii) indemnification provided for by Section 145 shall not be deemed exclusive of any other rights to which the indemnified party may be entitled; and (iii) the corporation may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity, or arising out of his status as such, whether or not the corporation would have the power to indemnify such person against such liabilities under Section 145.

Section 102(b)(7) of the DGCL provides that a corporation's certificate of incorporation may contain a provision eliminating or limiting the personal liability of a director or an officer to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director or an officer, provided that such provision shall not eliminate or limit the liability of a director or an officer (i) for any breach of the director's or officer's duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the DGCL, or (iv) for any transaction from which the director or officer derived an improper personal benefit, and provided further that such provision shall not eliminate or limit the liability of an officer in any action by or in the right of the corporation.

Our second amended and restated certificate of incorporation provides for indemnification of our directors, officers, employees and other agents to the maximum extent permitted by the DGCL, and our amended and restated bylaws provide for indemnification of our directors, officers, employees and other agents to the maximum extent permitted by the DGCL.

In addition, we entered into indemnification agreements with each of our directors and officers. These agreements require us to indemnify these individuals to the fullest extent permitted under Delaware law against liabilities that may arise by reason of their service to us, and to advance expenses incurred as a result of any proceeding against them as to which they could be indemnified. We intend to enter into indemnification agreements with our future directors.

**Item 7. Exemption from Registration Claimed**

Not applicable.

**Item 8. Exhibits**

The exhibits filed herewith or incorporated by reference herein are set forth in the Exhibit Index filed as part of this Registration Statement.

**exhibit index**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 4.1 | [Second Amended and Restated Certificate of Incorporation of Picard Medical, Inc. (incorporated by reference to Exhibit 3.1 filed with the Company's Current Report on Form 8-K (File No. 001-42801) filed on September 4, 2025).](https://www.sec.gov/Archives/edgar/data/2030617/000182912625007057/picardmedical_ex3-1.htm) |
| 4.2 | [Amended and Restated Bylaws of Picard Medical, Inc., as in effect (incorporated by reference to Exhibit 3.2 filed with the Company's Current Report on Form 8-K (File No. 001-42801) filed on September 4, 2025).](https://www.sec.gov/Archives/edgar/data/2030617/000182912625007057/picardmedical_ex3-2.htm) |
| 4.3 | [Amended and Restated 2021 Equity Incentive Plan (incorporated by reference to Exhibit 10.1 filed with the Company's Current Report on Form 8-K (File No. 001-42801) filed on October 14, 2025).](http://www.sec.gov/Archives/edgar/data/2030617/000182912625008062/picardmedical_ex10-1.htm) |
| 5.1 | [Opinion of Han Kun Law Offices LLP (filed herewith).](picardmedical_ex5-1.htm) |
| 23.1 | [Consent of Han Kun Law Offices LLP (included in Exhibit 5.1).](picardmedical_ex5-1.htm) |
| 23.2 | [Consent of MaloneBailey, LLP. (filed herewith).](picardmedical_ex23-2.htm) |
| 24.1 | [Power of Attorney (set forth on signature page).](#poa) |
| 107 | [Filing Fee Table (filed herewith).](picardmedical_ex107.htm) |

---

**Item 9. Undertakings**

(a) The undersigned registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the Securities Act

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement

*provided*, *however*, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(b) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

**SIGNATURES**

Pursuant to the requirements of the Securities Act, the Company has duly caused this Registration Statement on Form S-8 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Tucson, State of Arizona on the 27th day of January, 2026.

---

| | |
|:---|:---|
| **Picard Medical, Inc.** | **Picard Medical, Inc.** |
| By: | /s/ Patrick NJ Schnegelsberg |
| Name: | Patrick NJ Schnegelsberg |
| Title: | Chief Executive Officer |

---

**powers of attorney**

The undersigned officers and directors do hereby constitute and appoint Patrick NJ Schnegelsberg, with full power of substitution and re-substitution, as our true and lawful attorney-in-fact and agent, to do any and all acts and things in our name and behalf in our capacities as directors and officers, and to execute any and all instruments for us and in our names in the capacities indicated below, that such person may deem necessary or advisable to enable the Company to comply with the Securities Act and any rules, regulations and requirements of the Commission in connection with this Registration Statement, including specifically, but not limited to, power and authority to sign for us, any of us, in the capacities indicated below, any and all amendments hereto (including post-effective amendments); and we do hereby ratify and confirm all that said attorney-in-fact and agent, or his or her substitute, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated:

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Patrick NJ Schnegelsberg | Principal Executive Officer and Director | January 27, 2026 |
| Patrick NJ Schnegelsberg | (Principal Executive Officer) |  |
| /s/ Bernard Skaggs | Principal Financial Officer | January 27, 2026 |
| Bernard Skaggs | (Principal Financial Officer and Principal Accounting Officer) |  |
| /s/ Richard Fang |  | January 27, 2026 |
| Richard Fang | Director |  |
| /s/ Sam Van |  |  |
| Sam Van | Director | January 27, 2026 |
| /s/ George Ye |  |  |
| George Ye | Director | January 27, 2026 |

---

## Exhibit 5.1

**Exhibit 5.1**

---

| | |
|:---|:---|
| Rooms 4301-10, 43/F., Gloucester Tower, The Landmark<br> 15 Queen's Road Central, Hong Kong SAR, PRC<br> Tel: +852 2820 5600 Fax: +852 2820 5611<br> Beijing ● Shanghai ● Shenzhen ● Hong Kong ● Haikou ● Wuhan ● Singapore ● New York ● Silicon Valley<br> <u>www.hankunlaw.com</u> | ![](ex5-1_001.jpg) |

---

January 27, 2026

Picard Medical, Inc.

1992 E Silverlake

Tucson AZ 85713

To the Addressee Stated Above:

We have acted as counsel to Picard Medical, Inc., a Delaware corporation (the "Company"), in connection with the Registration Statement on Form S-8 (the "Registration Statement") relating to the registration of the offer and sale of up to 18,000,000 shares (the "Shares") of the Company's common stock, par value $0.0001 per share, issuable pursuant to the terms and in the manner set forth in the Amended and Restated 2021 Equity Incentive Plan (the "Plan").

We have examined the Registration Statement, to be filed with the Securities and Exchange Commission (the "Commission") under the under the Securities Act of 1933, as amended (the "Act"); (ii) the Second Amended and Restated Certificate of Incorporation of the Company, as currently in effect; (iii) the Amended and Restated Bylaws of the Company, as currently in effect; (iv) the Plan; and (v) unanimous written consents of the board of directors of the Company relating to, among other things, the approval of the Plan, the reservation for issuance of the Shares issuable thereunder and the filing of the Registration Statement. In addition, we have examined, and have relied as to matters of fact upon, originals, or duplicates or certified or conformed copies, of such records, agreements, documents and other instruments and such certificates or comparable documents of public officials and of officers and representatives of the Company and have made such other investigations as we have deemed relevant and necessary in connection with the opinions hereinafter set forth.

In rendering the opinion set forth below, we have assumed the genuineness of all signatures, including electronic signatures, the legal capacity of natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as duplicates or certified or conformed copies and the authenticity of the originals of such latter documents. We have also assumed that (a) the Shares to be delivered under the Plan may be purchased on the open market and (b) at the time of issuance of any Shares that are not issued and outstanding on the date hereof, (i) the board of directors of the Company has taken all necessary corporate action to authorize and approve the issuance of such Shares and (ii) the Company has received payment for such Shares in accordance with the Plan.

Based upon the foregoing, and subject to the qualifications, assumptions and limitations stated herein, we are of the opinion that, upon delivery in accordance with the Plan, the Shares will be validly issued, fully paid and nonassessable.

We do not express any opinion herein concerning any law other than the Delaware General Corporation Law. This opinion letter is expressed as of the date hereof unless otherwise expressly stated, and we disclaim any undertaking to advise you of any subsequent changes in the facts stated or assumed herein or of any subsequent changes in applicable laws.

![](ex5-1_002.jpg)

![](ex5-1_001.jpg)

We hereby consent to the filing of this opinion letter as Exhibit 5.1 to the Registration Statement. In giving this consent, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Act.

---

| |
|:---|
| Very truly yours, |
| /s/ Han Kun Law Offices LLP |
| Han Kun Law Offices LLP |

---

## Exhibit 23.2

**Exhibit 23.2**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated March 31, 2025, except for Note 1, as to which the date is July 11, 2025, with respect to the audited consolidated financial statements of Picard Medical, Inc. at December 31, 2024 and 2023 and for the years then ended, which appears in the Prospectus dated August 29, 2025, filed on September 2, 2025 pursuant to Rule 424(b) under the Securities Act, relating to the Registration Statement on Form S-1, as amended (File No. 333-286295). Our report contains an explanatory paragraph regarding the Company's ability to continue as a going concern.

*/s/ MaloneBailey, LLP*

www.malonebailey.com

Houston, Texas

January 27, 2026

## Ex-Filing

?xml version='1.0' encoding='ASCII'?

**Exhibit 107**

**Calculation of Filing Fee Tables**

**FORM S-8**

(Form Type)

**Picard Medical, Inc.**

(Exact Name of Registrant as Specified in its Charter)

**Table 1: Newly Registered Securities**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Security**<br> **Type** | **Security**<br> **Class**<br> **Title** | **Proposed<br> Maximum<br> Aggregate<br> Offering<br> Price** | **Fee**<br> **Rate** | **Amount of**<br> **Registration**<br> **Fee** |
| Equity | Common stock, par value $0.0001 per share Other<sup>(2)</sup>18000000<sup>(3)</sup>$1.826<sup>(4)</sup> | $32868000<sup>(4)</sup> | 0.00013810 | $4539.071 |
| Total Offering Amounts | Total Offering Amounts | $32868000 |  | $4539.071 |
| Total Fee Offsets | Total Fee Offsets |  |  | $0 |
| Net Fee Due | Net Fee Due |  |  | $4539.071 |

---

(1) Pursuant to Rule 416(a) promulgated under the Securities Act of 1933, as amended (the "Securities Act"), this registration statement on Form S-8 (the "Registration Statement") to which this exhibit relates shall also cover any additional shares of the common stock of Picard Medical, Inc. (the "Company," and such shares, "Company Common Stock") that become issuable by reason of any stock dividend, stock split, recapitalization or other similar transaction that results in an increase in the number of outstanding shares of Company Common Stock.

(2) Fee calculated in accordance with Rules 457(c) and 457(h) under the Securities Act.

(3) Represents shares of Company Common Stock reserved for future issuance under the Amended and Restated 2021 Equity Incentive Plan.

(4) Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(c) and Rule 457(h) under the Securities Act of 1933, as amended. The proposed maximum offering price per share is based on the average of the high and low prices of the Company's Common Stock as reported on the NYSE American on January 26, 2026.