Management ChangeNov 3, 2026, 05:26 PM
Picard Medical Appoints Richard Fang Permanent CEO; Discloses Loans
AI Summary
Picard Medical, Inc. announced the permanent appointment of Richard Fang, Ph.D., as Chief Executive Officer, effective October 28, 2026. Dr. Fang, who has served as Interim CEO since June 2026, will also continue as Chairman of the Board. His annual salary remains $0.4 million with no changes to his compensation. The company also disclosed two related-person loans: a $0.7 million loan from Fang Family Fund I, LLC at 6% interest due February 28, 2027, and a $0.5 million loan from Fang Family Fund, LLC - Series II at 0% interest with terms dependent on external funding.
Key Highlights
- Richard Fang appointed permanent CEO of Picard Medical, Inc., effective October 28, 2026.
- Dr. Fang will continue to serve as Chairman of the Board.
- Dr. Fang's annual salary remains $0.4 million.
- Picard Medical borrowed $0.7 million from Fang Family Fund I, LLC at 6% interest, due Feb 28, 2027.
- Picard Medical borrowed $0.5 million from Fang Family Fund, LLC - Series II at 0% interest, due upon external funding or determined terms.
Price Impact
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