SANUWAVE Health (SNWV) holder Opaleye logs 16,469-share stock sale

Q: How many SANUWAVE (SNWV) shares were sold in total?

The filing shows total sales of 16,469 shares of SANUWAVE Health common stock. Opaleye, L.P. sold 11,267 shares and 202 shares , while a managed account sold 5,000 shares , all reported as open-market transactions at weighted average prices around $20.46–$20.50 .

Q: At what prices were the SNWV shares sold in Opaleye’s transactions?

Shares were sold at weighted average prices of $20.4611 and $20.5025 per share. The Form 4 notes that trades occurred in multiple transactions within price ranges, and Opaleye undertakes to provide detailed breakdowns of shares sold at each price upon request.

Q: How many SNWV shares does Opaleye, L.P. hold after these sales?

After the reported sales, Opaleye, L.P. is shown holding 954,798 shares of SANUWAVE Health common stock. A separately managed account associated with Opaleye is shown holding an additional 10,000 shares , reflecting remaining indirect positions following the disclosed open-market transactions.

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Opaleye-related entities reported open-market sales of SANUWAVE Health, Inc. common stock. On April 17, Opaleye, L.P. sold 11,267 shares at a weighted average price of $20.4611 per share, and a separately managed account sold 5,000 shares at the same price.

On April 21, Opaleye, L.P. sold an additional 202 shares at a weighted average price of $20.5025. Following these transactions, Opaleye, L.P. held 954,798 shares, and the managed account held 10,000 shares. Opaleye Management Inc. disclaims beneficial ownership beyond its pecuniary interest.

Insider Trade Summary

Net Seller: 16,469 shares ($336,982)

Net Sell 3 txns

Insider Opaleye Management Inc.

Role null

Sold 16,469 shs ($337K)

Type	Security	Shares	Price	Value
Sale	Common Stock, par value $0.001 per share	202	$20.5025	$4K
Sale	Common Stock, par value $0.001 per share	11,267	$20.4611	$231K
Sale	Common Stock, par value $0.001 per share	5,000	$20.4611	$102K

Holdings After Transaction: Common Stock, par value $0.001 per share — 954,798 shares (Indirect, By Opaleye, L.P.)

Footnotes (1)

Represents securities owned directly by Opaleye, L.P. (the "Fund"). As the investment manager of the Fund, Opaleye Management Inc. may be deemed to beneficially own the securities owned directly by the Fund. Securities owned by a separately managed account (the "Managed Account"). As the portfolio manager of the Managed Account, Opaleye may be deemed to beneficially own the securities owned directly by the Managed Account. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $20.17-$21.00 inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each price. Opaleye Management Inc. disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that Opaleye Management Inc. is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Key Figures

Total shares sold: 16,469 shares Opaleye April 17 sale: 11,267 shares at $20.4611/share Managed account sale: 5,000 shares at $20.4611/share +3 more

6 metrics

Total shares sold 16,469 shares Net shares sold across three open-market transactions

Opaleye April 17 sale 11,267 shares at $20.4611/share Open-market sale by Opaleye, L.P. on April 17

Managed account sale 5,000 shares at $20.4611/share Open-market sale by separately managed account on April 17

Opaleye April 21 sale 202 shares at $20.5025/share Open-market sale by Opaleye, L.P. on April 21

Opaleye, L.P. holdings 954,798 shares Shares held after April 21 transaction

Managed account holdings 10,000 shares Shares held after April 17 transaction

Key Terms

open-market sale, weighted average price, separately managed account, pecuniary interest

4 terms

open-market sale financial

"transaction_action: "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

weighted average price financial

"The price reported in column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

separately managed account financial

"Securities owned by a separately managed account (the "Managed Account")."

A separately managed account (SMA) is a personalized investment portfolio owned by a single investor and run by a professional manager who buys and sells securities on that investor’s behalf. It matters to investors because an SMA offers tailored asset selection, tax handling, and transparency—like hiring a personal chef who prepares meals to your dietary needs rather than sharing a set menu—so you can align holdings with your goals and see exactly what you own.

pecuniary interest financial

"disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein"

Form 4 Insider Transactions: What Each Field Means →

04/21/2026 - 06:17 PM

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Opaleye Management Inc.

(Last)

(First)

(Middle)

ONE BOSTON PLACE, 26TH FLOOR

(Street)

BOSTON

MASSACHUSETTS

02108

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/17/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, par value $0.001 per share	04/17/2026		S		11,267	D	$20.4611⁽³⁾	955,000	I	By Opaleye, L.P.⁽¹⁾⁽⁴⁾
Common Stock, par value $0.001 per share	04/17/2026		S		5,000	D	$20.4611⁽³⁾	10,000	I	By Managed account⁽²⁾⁽⁴⁾
Common Stock, par value $0.001 per share	04/21/2026		S		202	D	$20.5025	954,798	I	By Opaleye, L.P.⁽¹⁾⁽⁴⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Represents securities owned directly by Opaleye, L.P. (the "Fund"). As the investment manager of the Fund, Opaleye Management Inc. may be deemed to beneficially own the securities owned directly by the Fund.

2. Securities owned by a separately managed account (the "Managed Account"). As the portfolio manager of the Managed Account, Opaleye may be deemed to beneficially own the securities owned directly by the Managed Account.

3. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $20.17-$21.00 inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each price.

4. Opaleye Management Inc. disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that Opaleye Management Inc. is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.

	Opaleye Management Inc., By: /s/ James Silverman, President	04/21/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Opaleye Management report in this Form 4 for SNWV?

Opaleye Management Inc. reported indirect open-market sales of SANUWAVE Health (SNWV) common stock through Opaleye, L.P. and a managed account, totaling 16,469 shares. These transactions reflect portfolio activity by entities it manages, not direct insider purchases.

How many SANUWAVE (SNWV) shares were sold in total?

The filing shows total sales of 16,469 shares of SANUWAVE Health common stock. Opaleye, L.P. sold 11,267 shares and 202 shares, while a managed account sold 5,000 shares, all reported as open-market transactions at weighted average prices around $20.46–$20.50.

At what prices were the SNWV shares sold in Opaleye’s transactions?

Shares were sold at weighted average prices of $20.4611 and $20.5025 per share. The Form 4 notes that trades occurred in multiple transactions within price ranges, and Opaleye undertakes to provide detailed breakdowns of shares sold at each price upon request.

How many SNWV shares does Opaleye, L.P. hold after these sales?

After the reported sales, Opaleye, L.P. is shown holding 954,798 shares of SANUWAVE Health common stock. A separately managed account associated with Opaleye is shown holding an additional 10,000 shares, reflecting remaining indirect positions following the disclosed open-market transactions.

Does Opaleye Management claim full beneficial ownership of the SNWV shares?

Opaleye Management Inc. states it may be deemed to beneficially own shares held by Opaleye, L.P. and a managed account, but expressly disclaims beneficial ownership of the reported shares except to the extent of its pecuniary interest, limiting its asserted economic claim on these holdings.

What types of accounts were involved in these SNWV stock sales?

The reported SANUWAVE Health stock sales involve securities held directly by Opaleye, L.P. and by a separately managed account. Opaleye Management Inc. acts as investment manager or portfolio manager for these entities and reports the trades as indirect ownership transactions.