SANUWAVE appoints Morgan Frank as interim CEO; Kevin Richardson becomes Chief Strategy Officer

SANUWAVE Health, Inc.

Morgan Frank appointed interim CEO effective 5/23/23; he is Chairman and founder of Manchester Explorer Fund (largest shareholder).
Frank will receive $1/year base salary; eligible for incentive bonus and benefit plans.
Kevin Richardson steps down as CEO, stays as Chief Strategy Officer for up to 12 months; receives options for 25 million shares (half vest immediately, half on 4/15/24).
Pro-rated annual bonus tied to 2023 goals: $30M sales, $3M adjusted EBITDA, Nasdaq/NYSE listing; severance of 20 weeks' salary if terminated without cause.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Kevin A. Richardson, II

Chief Strategy Officer

SNWV · SANUWAVE Health, Inc.

Effective: 2023-05-23
Successor: Morgan Frank
Filed: May 30, 2023, 7:59 PM ET

Mr. Frank will succeed Kevin A. Richardson, II, the former Chief Executive Officer of the Company, who stepped down as Chief Executive Officer on May 23, 2023 to serve as the Company’s Chief Strategy Officer.

Appointed (interim)

Morgan Frank

interim Chief Executive Officer

SNWV · SANUWAVE Health, Inc.

Effective: 2023-05-23
Filed: May 30, 2023, 7:59 PM ET

Effective May 23, 2023, the Board of Directors (the “Board”) of SANUWAVE Health, Inc. (the “Company”) appointed Morgan Frank, age 51, the current Chairman of the Board, as the Company’s interim Chief Executive Officer.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Kevin A. Richardson, II changed role as Chief Strategy Officer at SANUWAVE Health, Inc..

Action: stepped down
Role: Chief Strategy Officer

Exact text from the filing

Mr. Frank will succeed Kevin A. Richardson, II, the former Chief Executive Officer of the Company, who stepped down as Chief Executive Officer on May 23, 2023 to serve as the Company’s Chief Strategy Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Morgan Frank was appointed as interim Chief Executive Officer at SANUWAVE Health, Inc..

Action: appointed
Role: interim Chief Executive Officer

Exact text from the filing

Effective May 23, 2023, the Board of Directors (the “Board”) of SANUWAVE Health, Inc. (the “Company”) appointed Morgan Frank, age 51, the current Chairman of the Board, as the Company’s interim Chief Executive Officer.

View on SEC.gov

SANUWAVE Health, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-027236

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