[Form 4] SANUWAVE Health, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 filing snapshot: On 06/30/2025, SANUWAVE Health, Inc. (SNWV) reported a single insider transaction. Chief Executive Officer, Director and 10% owner Morgan C. Frank received a fully-vested stock option for 1,574 common shares at an exercise price of $32.86 per share, expiring 06/30/2030. The filing shows no open-market purchases or sales of common stock, and Mr. Frank now directly holds 1,574 derivative securities. The transaction appears to be routine executive compensation and is unlikely to meaningfully affect the company’s near-term share supply or insider sentiment.

Insights

Securities Analyst

TL;DR: Small option grant to CEO; standard incentive, negligible market impact.

The issuance of an option covering 1,574 shares—without related common-stock transactions—suggests ordinary-course compensation rather than a directional bet on SANUWAVE’s equity. The grant aligns executive interests but, given the modest size and five-year term, should not materially alter insider ownership structure or float. Investors typically view such filings as neutral unless accompanied by significant share accumulation or disposal.

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

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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^*

FRANK MORGAN C.

(Last) (First) (Middle)

2 CALLE CANDINA, #1701

(Street)

SAN JUAN PR 00907

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

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)	$32.86	06/30/2025		A		1,574		(1)	06/30/2030	Common Stock	1,574	$0	1,574	D

Explanation of Responses:

1. Options were fully vested at the grant date.

	/s/ Griffin D. Foster, Attorney-in-Fact for Morgan C. Frank	07/02/2025
	** 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).
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FAQ

What insider transaction did SNWV report on 06/30/2025?

A fully-vested stock option grant for 1,574 shares to CEO Morgan C. Frank.

What is the exercise price of the new SNWV stock option?

The option can be exercised at $32.86 per share.

When does the granted SNWV option expire?

The expiration date is 06/30/2030.

How many SNWV derivative securities does Morgan C. Frank now hold?

He beneficially owns 1,574 derivative securities directly.

Did the Form 4 disclose any open-market buying or selling of SNWV common shares?

No. The filing only reports the stock-option grant.