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Sanuwave Health, Inc. (NASDAQ:SNWV) appointed Daniel Coyle as chief operating officer on Thursday. Coyle, 35, previously served as the company’s vice president of engineering and operations since October 2024. Before joining Sanuwave Health, he was a program director at Nextern, a medical device manufacturer, from September 2019 through September 2024.
The appointment was disclosed in a press release statement based on a filing with the U.S. Securities and Exchange Commission.
Coyle’s annualized base salary was set at $225,000. His annual cash bonus opportunity for the remainder of 2025 was increased to 40% of his base salary. The company’s board of directors also approved a grant of stock options to purchase 60,000 shares of Sanuwave Health common stock. The options will be granted on October 9, 2025, and will vest in 12 equal installments on each quarterly anniversary of the grant date.
According to the filing, Coyle has no family relationships with executive officers or directors of the company and has no material interest in any transactions requiring disclosure.
Immediately prior to Coyle’s appointment, Peter Stegagno was removed from the chief operating officer position and named chief regulatory officer. The board determined that Stegagno no longer meets the definitions of “officer” or “executive officer” under the Securities Exchange Act of 1934.
On the same day, the company’s president, Andrew Walko, was terminated without cause, effective October 24, 2025. Sanuwave Health and Walko are negotiating a separation agreement. The company does not plan to appoint a new president at this time.
These changes were reported in a filing with the SEC.
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