Company: SNWV
Filing Date: 2025-01-15
Form Type: 8-K
Source: 0001628280-25-001632
Chunk: 0

Company: SANUWAVE Health, Inc.
Filing Date: 2025-01-15
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously disclosed, on January 3, 2025, Timothy Hendricks separated from service as Executive Vice President of Sales of Sanuwave Health, Inc. (the “ Company”), effective as of the same date. In connection with his separation, Mr. Hendricks and the Company entered into a Separation and Release Agreement, dated January 13, 2025 (the “ Severance Agreement”), pursuant to which Mr. Hendricks will receive five months’ annual base salary in the amount of $104,116.67, payable in equal installments through the Company’s regular payroll, and continued vesting of his employee stock options through May 31, 2024.

The foregoing description of the Severance Agreement does not purport to be complete and is qualified by reference to the full text of the Severance Agreement, which is filed hereto as Exhibit 10.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.