Company: SNWV
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001628280-25-014141
Chunk: 30

Company: SANUWAVE Health, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 11
Chunk 30
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Item 11.     EXECUTIVE COMPENSATION

This section discusses the material components of the executive compensation program offered to our executives, and in particular to our named executive officers for 2024, who were:

•Morgan Frank, Chief Executive Officer

•Nanci Gilmore, Chief Commercial Officer

•Andrew Walko, President

Summary Compensation Table

The following table provides certain information concerning compensation earned for services rendered in all capacities by our named executive officers during the fiscal years ended December 31, 2024, and 2023.

Name and PositionYearSalaryBonus (1)Option Awards (2)All othercompensation (3)TotalMorgan Frank, Chief Executive Officer2024$4 $- 1,383,842 $- $1,383,846 20231 - - 100,000 100,001 Andrew Walko, President2024230,000 - 909,230 - 1,139,230 202395,833 - - - 95,833 Nanci Gilmore, Chief Commercial Officer2024225,000 65,000 636,462 7,200 933,662 2023212,308 - - 6,900 219,208 

(1)The bonus paid to Ms. Gilmore in 2024 was a discretionary bonus.

(2)The amounts reported in the "Option Awards" column represent the grant-date fair value of stock options granted to the named executive officers in 2024, calculated in accordance with FASB ASC 718. These stock options vest over a three-year period, except for $20,000 paid to Mr. Frank for 2024 board fees which vested immediately upon grant, subject to continued service with the Company. The reported values reflect the total grant-date fair value and do not correspond to the amounts the executives may ultimately realize upon vesting or exercise. 

(3)All other compensation paid to Mr. Frank in 2023 includes board fees earned. 2024 board fees were changed to option awards in lieu of cash fees earned. All other compensation paid to Ms. Gilmore includes a car allowance.

2024 Named Executive Officer Compensation Plan

Base Salary

Our salaries reflect the responsibilities of each Named Executive Officer (NEO) and the competitive market for comparable professionals in our industry. Base salaries and benefits packages are fixed components of our NEO’s compensation and do not vary with