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AI brief of an SEC Form 8-K · WRAP TECHNOLOGIES, INC. (WRAP)

Wrap Technologies grants 6 million performance stock awards to CEO and COO

Neutral Impact 3 of 5 leadership Written later

Wrap Technologies amended the employment agreements of Chief Executive Officer Scot Cohen and President and Chief Operating Officer Jared Novick and approved performance restricted stock grants to each on September 2, 2026. The awards total 6,000,000 shares and vest only if the company's market capitalization meets thresholds from $150.0 million to $506.25 million, with part of the shares also tied to a stockholder vote to increase the equity plan's authorized shares. The filing also extends the post-termination exercise period on certain prior stock options from three months to 24 months.

Key points

  • Scot Cohen receives 4,000,000 performance restricted stock shares; Jared Novick receives 2,000,000, approved September 2, 2026.
  • Shares vest in tranches when market capitalization meets $150.0 million, $225.0 million, $337.5 million and $506.25 million for 45 consecutive trading days.
  • 1,600,000 Cohen shares and 800,000 Novick shares are void if stockholders do not approve an equity plan increase by March 15, 2027.
  • Both employment agreements set a $200,000 annualized base salary and a two-year initial term, with 12-month automatic renewals.

The filing

CompanyWRAP TECHNOLOGIES, INC. (WRAP)
Form8-K, current report
Filed with the SECSep 9, 2026, 5:14 PM ET
Accession number0001493152-26-041992

Items reported: 1.01 Material Definitive Agreement5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 09, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.