Nuwellis appoints John L. Erb as CEO and President, approves 1-for-42 reverse stock split

Nuwellis, Inc.

John L. Erb appointed President and CEO effective June 27, 2025, with annual base salary of $431,097 and stock option grant of 115,329 shares vesting monthly.
Board approved a 1-for-42 reverse stock split; effective 5:00 p.m. ET on July 3, 2025, with trading on split-adjusted basis from July 7, 2025.
Reverse split proportionally adjusts outstanding stock options, warrants, and preferred shares; new CUSIP 67113Y702.
Mr. Erb continues as Chairman of the Board; employment agreement includes annual bonus target of 65% of base salary.
Reverse split reduces outstanding common shares by a factor of 42, with fractional shares paid in cash based on Nasdaq closing price.

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