SCHEDULE: Broadwood Updates STAAR Surgical Stake, LeBuhn Exits Reporting Group

Broadwood Partners and affiliates updated their beneficial ownership in STAAR Surgical Company to 32.6%, with Richard T. LeBuhn ceasing to be a reporting person.

Summary

• Broadwood Partners, Broadwood Capital, and Neal C. Bradsher collectively beneficially own 16,123,842 shares of STAAR Surgical Company, representing 32.6% of the common stock outstanding.
• Neal C. Bradsher's total beneficial ownership, including shares with sole voting/dispositive power, is 16,149,742 shares, also 32.6%.
• Richard T. LeBuhn beneficially owns 21,286 shares, representing 0.0% of the common stock.
• Richard T. LeBuhn has ceased to be a Reporting Person immediately upon the filing of this Amendment No. 44 due to the termination of the Joint Filing and Solicitation Agreement.
• The Reporting Persons acquired additional shares in open market transactions: 54,764 shares on March 11, 2026, at a weighted average price of $17.5217; 299,432 shares on March 12, 2026, at $18.1154; and 316,017 shares on March 13, 2026, at $18.6150.
• The total number of shares outstanding used for percentage calculation is 49,512,749.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as moderately positive due to the continued accumulation of shares by an activist investor, signaling confidence and potential for value creation, though the departure of a key reporting person introduces a minor element of uncertainty.

Positives

• Broadwood Partners and affiliates increased their stake in STAAR Surgical Company through recent open market purchases, indicating continued confidence in the company.
• The Reporting Persons intend to review their investment and may engage with management and other shareholders to explore alternatives for creating significant additional shareholder value.

Negatives

• Richard T. LeBuhn, Executive Vice President of Broadwood Capital, has ceased to be a Reporting Person, which could signal a change in the group's internal dynamics or strategy regarding STAAR Surgical.

Risks

• The Reporting Persons' investment review is ongoing, and they reserve the right to adjust their holdings based on various factors, including the Issuer's financial position, share price levels, market conditions, and general economic and industry conditions.

Future Outlook

The Reporting Persons intend to continuously review their investment in STAAR Surgical Company and may engage with management, the Board, and other significant shareholders to explore strategies aimed at creating significant additional shareholder value over time. They reserve the right to adjust their holdings based on market conditions and other factors.

Industry Context

StockSavvy.ai notes that this filing reflects an ongoing active investment approach by Broadwood Capital, a known activist investor. Their continued accumulation of shares and stated intent to engage with management for shareholder value creation suggests a potential for strategic shifts or increased pressure on STAAR Surgical's leadership, which is a common dynamic in the medical device and ophthalmology sector where innovation and market penetration are key.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders: The continued accumulation of shares by an activist investor and their stated intent to create shareholder value could be seen as positive, potentially leading to strategic changes or improved performance. The departure of a reporting person might slightly alter the dynamics of shareholder activism.
• Management/Board: Increased scrutiny and potential engagement from a significant shareholder group regarding strategic alternatives.

Next Steps

• Reporting Persons will continue to review their investment in STAAR Surgical Company.
• Reporting Persons may engage with the Issuer's management, Board, and other significant shareholders to discuss alternatives for creating shareholder value.
• Reporting Persons reserve the right to effect changes in their beneficial ownership of shares in open-market or privately negotiated transactions.

Key Dates

Recommendation

The filing indicates continued accumulation of shares by Broadwood, an activist investor, and their intent to engage for shareholder value. This suggests potential for positive catalysts. However, the departure of Richard T. LeBuhn as a reporting person introduces a degree of uncertainty regarding the group's unified approach. Given the ongoing review and potential for future actions, a 'hold' recommendation is appropriate, advising investors to monitor developments closely rather than making immediate buy or sell decisions based solely on this ownership update.

Keywords

STAAR Surgical Company, Broadwood Partners, Broadwood Capital, Schedule 13D/A, Beneficial Ownership, Shareholder Activism, Investment Adviser, Common Stock, Equity Stake, SEC Filing