Director gets 1,540 options at Sanuwave Health (NASDAQ: SNWV)

Rhea-AI Filing Summary

SANUWAVE Health, Inc. reported an insider equity award for director Jeffrey Blizard. On 12/31/2025, he received a stock option to purchase 1,540 shares of common stock at an exercise price of $29.84 per share, expiring on 12/31/2030.

The option was fully vested on the grant date, meaning it was immediately exercisable. Following this award, Blizard beneficially owns 1,540 derivative securities related to the company’s common stock, held as a direct ownership position.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Blizard Jeffrey

(Last) (First) (Middle)

9600 W. 76TH STREET

SUITE 118

(Street)

EDEN PRAIRIE MN 55344

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SANUWAVE Health, Inc. [ SNVW ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$29.84	12/31/2025		A		1,540		(1)	12/31/2030	Common Stock	1,540	$0	1,540	D

Explanation of Responses:

1. Options were fully vested at the grant date.

	/s/ Griffin D. Foster, Attorney-in-Fact for Jeffrey Blizard	01/06/2026
	** 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 4 (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 insider transaction did SNWV report for Jeffrey Blizard?

The company reported that director Jeffrey Blizard received a stock option grant for 1,540 shares of SANUWAVE Health, Inc. common stock on 12/31/2025.

How many stock options did the SNWV director receive and at what price?

Jeffrey Blizard was granted 1,540 stock options, each with an exercise price of $29.84 per share, giving him the right to buy that number of common shares at that price.

When do Jeffrey Blizard’s SNWV stock options expire?

The reported stock options for Jeffrey Blizard have an expiration date of 12/31/2030, after which they can no longer be exercised.

Were the SNWV stock options granted to Jeffrey Blizard vested immediately?

Yes. A footnote states that the options were fully vested at the grant date, so they were immediately exercisable when granted.

Is Jeffrey Blizard’s ownership in SNWV direct or indirect after this option grant?

The filing shows the ownership form as Direct (D), with 1,540 derivative securities beneficially owned following the reported transaction.

Does this SNWV Form 4 show a purchase or sale of existing shares?

The Form 4 reports an award of stock options coded as an acquisition of a derivative security, not a sale of existing common shares.