{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-23-010660","form_type":"8-K","ticker":"WRAP","cik":"0001702924","company_name":"WRAP TECHNOLOGIES, INC.","filed_at":"2023-04-19T23:59:59+00:00","discovered_at":"2026-05-14T18:03:40.114652+00:00","generated_at":"2026-06-16T23:44:15.841274+00:00","sec_items":["1.01","5.02","2.02","9.01"],"event_type":"leadership","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Wrap Technologies CEO resigns; preliminary Q1 2023 revenue estimated at $0.6-0.7M, down 56-63% YoY","bullets":["TJ Kennedy resigns as CEO and director; Kevin Mullins appointed CEO effective April 13, 2023.","Preliminary Q1 revenue $0.6-0.7M vs $1.6M prior year; net loss $3.7-4.3M vs $5.4M.","Operating expenses expected to be $4.0-4.5M, down from $6.1M; targeted annual cost savings of $6M.","Cash, equivalents and short-term investments ~$16M at March 31, 2023, down from $30M a year ago.","COO Glenn Hickman terminated as part of headcount reduction; separation agreement under negotiation."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-23-010660","json":"https://secwatch.observer/filing/0001437749-23-010660.json","markdown":"https://secwatch.observer/filing/0001437749-23-010660.md","text":"https://secwatch.observer/filing/0001437749-23-010660.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1702924/000143774923010660/0001437749-23-010660-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1702924/000143774923010660/wrap20230419_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T23:44:15.841274+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"36acb83a981606edf2a95c44cdf5d6b358461c4b","claim":"WRAP TECHNOLOGIES, INC. reported first quarter of fiscal year 2023 results: revenue between $0.60 million and $0.70 million, net income estimated to be between $3.7 million and $4.3 million.","evidence_excerpt":"Officer search process carried out by the Board in the first quarter of 2022. Preliminary Estimated Results for Q1 2023 ● First quarter 2023 revenue is estimated to be between $0.60 million and $0.70 million, which compares to $1.6 million in the prior year period. The decline in revenue is primarily attributable to the timing of new orders being delayed until later","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1702924/000143774923010660/0001437749-23-010660-index.htm","confidence":0.92,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter of fiscal year 2023"},{"label":"Revenue","value":"between $0.60 million and $0.70 million"},{"label":"Net income","value":"estimated to be between $3.7 million and $4.3 million"},{"label":"Result","value":"preliminary results"}],"fact_type":"earnings_release"},{"claim_id":"6aa3f7601b","claim":"Glenn Hickman was terminated as Chief Operating Officer at WRAP TECHNOLOGIES, INC..","evidence_excerpt":"Glenn Hickman’s employment with the Company as Chief Operating Officer was terminated in connection with a broader reduction in headcount.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1702924/000143774923010660/0001437749-23-010660-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"terminated"},{"label":"Role","value":"Chief Operating Officer"}],"fact_type":"executive_change"},{"claim_id":"97ad2ca9ed","claim":"TJ Kennedy resigned as Chief Executive Officer at WRAP TECHNOLOGIES, INC..","evidence_excerpt":"TJ Kennedy resigned as Chief Executive Officer and as a member of the Board of Directors of the Company","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1702924/000143774923010660/0001437749-23-010660-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"b7e19cae76","claim":"Kevin Mullins was appointed as Chief Executive Officer at WRAP TECHNOLOGIES, INC..","evidence_excerpt":"the Board of Directors appointed Kevin Mullins, the Company’s current President, to the position of Chief Executive Officer","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1702924/000143774923010660/0001437749-23-010660-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chief Executive Officer"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}