Initial Statement of Beneficial Ownership (Form 3)

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * Coyle Daniel 2. Date of Event Requiring Statement (Month/Day/Year) 10/01/2025 3. Issuer Name and Ticker or Trading Symbol SANUWAVE Health, Inc. [SNVW] (Last) (First) (Middle) 9600 W. 76TH STREET, SUITE 118 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chief Operating Officer 5. If Amendment, Date Original Filed (Month/Day/Year) (Street) EDEN PRAIRIE, MN 55344 6. Individual or Joint/Group Filing (Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 37 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	(1)	10/22/2034	Common Stock	20,000	$14.2	D
Stock Option (right to buy)	(2)	06/04/2035	Common Stock	5,000	$27	D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Coyle Daniel 9600 W. 76TH STREET SUITE 118 EDEN PRAIRIE, MN 55344			Chief Operating Officer

Signatures

/s/ Griffin D. Foster, Attorney-in-Fact for Daniel Coyle		10/06/2025
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Options vest over a period of three years in 12 equal installments on each quarterly anniversary of the grant date. These options were granted to the reporting person on October 22, 2024.
(2)	On June 4, 2025, the reporting person was granted options to purchase 10,000 shares of common stock that vest in four equal installments based on the satisfaction of certain project-based performance milestones. Two of the performance milestones have been met, resulting in the vesting of 5,000 options.

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