secwatch.observer — SEC 8-K summary
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Issuer:     SANUWAVE Health, Inc. (SNWV)
CIK:        0001417663
Form:       8-K
Filed at:   2023-05-30T23:59:59+00:00
Accession:  0001140361-23-027236
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1417663/000114036123027236/0001140361-23-027236-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1417663/000114036123027236/brhc20053597_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-027236

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer