Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On April 10, 2022, Mr. John Nemelka informed the board of directors (the
"Board") of Sanuwave Health, Inc. (the "Company") of his resignation as a member
of the Board, effective immediately. Mr. Nemelka's resignation was not the
result of any disagreement with the Company.
On April 10, 2022, Messrs. Jeffrey Blizard, Ian Miller and Jim Tyler were
appointed to the Board, effective immediately. Messrs. Blizard, Miller and Tyler
will each serve as a director with terms expiring at the next annual meeting and
until a successor has been duly elected and qualified. The Board appointed (i)
Mr. Blizard as the Chairman of the Compensation Committee and as a member of
each of the Audit Committee and Nominating and Corporate Governance Committee,
(ii) Mr. Miller as the Chairman of the Audit Committee, effective upon filing of
the Form 10-K for fiscal year 2021 (the "2021 10-K"), and as a member of the
Nominating and Corporate Governance Committee, effective immediately, (iii) Mr.
Stolarski as a member of the Compensation Committee and as Acting Chairman of
the Audit Committee until the 2021 10-K is filed, at which point Mr. Miller will
become the Chairman of the Audit Committee and Mr. Stolarski will become a
member of the Audit Committee, and (iv) Mr. Tyler as the Chairman of the
Nominating and Corporate Governance Committee and as a member of the
Compensation Committee.
Messrs. Blizard, Miller and Tyler will each receive the Company's standard
non-employee director cash and equity compensation.
There are no arrangements or understandings between Messrs. Blizard, Miller and
Tyler and any other person pursuant to which each was selected as a director.
Messrs. Blizard, Miller and Tyler each have no direct or indirect material
interest in any transaction or proposed transaction required to be reported
under Item 404(a) of Regulation S-K or Item 5.02(d) of Form 8-K.
Item 7.01 Regulation FD Disclosure.
On April 12, 2022, the Company issued a press release announcing the
appointment of Messrs. Blizard, Miller and Tyler to the Board of Directors as
set forth in Item 5.02 of this Current Report on Form 8-K.
A copy of the press release is furnished as Exhibit 99.1 hereto. This
information shall not be deemed "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, and is not incorporated by
reference into any filing of the Company whether made before or after the date
hereof, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press Release dated April 12, 2022.
104 Cover Page Interactive Data File--the cover page XBRL tags are
embedded within the Inline XBRL document.
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