Nuwellis (NUWE) director David McDonald reports nonstatutory option holdings

Rhea-AI Filing Summary

Nuwellis, Inc. director David McDonald reported his holdings of nonstatutory stock options in a Form 3. Following the reported positions, one option grant covers 7 underlying shares and another covers 416 underlying shares, both held directly. One option is fully vested and another vests in 12 approximately equal monthly installments.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider McDonald David

Role Director

Type	Security	Shares	Price	Value
holding	Nonstatutory Stock Option	--	--	--
holding	Nonstatutory Stock Option	--	--	--

Holdings After Transaction: Nonstatutory Stock Option — 7 shares (Direct)

Footnotes (1)

1. The reporting person was a member of the Board of Directors (the "Board") of the Issuer from November 1, 2023 until January 21, 2026, and filed an initial Form 3 on November 1, 2023. He was reappointed to the Board on February 24, 2026. The option is fully vested. Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

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SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

McDonald David

(Last) (First) (Middle)

12988 VALLEY VIEW ROAD

(Street)

EDEN PRAIRIE MN 55344

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/24/2026

3. Issuer Name and Ticker or Trading Symbol
Nuwellis, Inc. [ NUWE ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Nonstatutory Stock Option(1)	(2)	01/01/2034	Common Stock	7	$1.32	D
Nonstatutory Stock Option	(3)	05/19/2035	Common Stock	416	$1.36	D

Explanation of Responses:

1. The reporting person was a member of the Board of Directors (the "Board") of the Issuer from November 1, 2023 until January 21, 2026, and filed an initial Form 3 on November 1, 2023. He was reappointed to the Board on February 24, 2026.

2. The option is fully vested.

3. Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

Remarks:

Exhibit 24, Power of Attorney, is attached.

	/s/ Neil P. Ayotte, by Power of Attorney	03/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What does David McDonald’s Form 3 for NUWE report?

The Form 3 for Nuwellis (NUWE) reports director David McDonald’s holdings of nonstatutory stock options. It shows two direct option positions, one over 7 shares and another over 416 shares, with specific vesting terms disclosed in the footnotes.

Did David McDonald buy or sell Nuwellis (NUWE) shares in this Form 3?

The filing does not report any buy or sell transactions. It classifies both entries as holdings of nonstatutory stock options, with no transaction code indicating purchases or sales and a neutral net buy/sell share position.

How many Nuwellis nonstatutory stock options does David McDonald hold?

David McDonald reports two nonstatutory stock option positions in Nuwellis. One option position covers 7 shares and the other covers 416 shares, both held directly, as reflected in the “total shares following transaction” figures.

What are the vesting terms of David McDonald’s Nuwellis options?

One nonstatutory stock option is fully vested. Another vests in 12 approximately equal consecutive monthly increments, starting on the one‑month anniversary of the grant date, so that it is fully vested on the one‑year anniversary of the grant.

What is David McDonald’s board role at Nuwellis (NUWE) mentioned in the filing?

David McDonald served on the Nuwellis Board of Directors from November 1, 2023 until January 21, 2026. The footnotes state he was reappointed to the Board on February 24, 2026, which aligns with the date of the reported option holdings.