secwatch.observer — SEC 8-K summary
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Issuer:     WRAP TECHNOLOGIES, INC. (WRAP)
CIK:        0001702924
Form:       8-K
Filed at:   2023-10-16T23:59:59+00:00
Accession:  0001437749-23-028307
Event type: leadership
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wrap Technologies names Scot Cohen Executive Chairman, adds two new directors
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- Scot Cohen appointed Executive Chairman, effective Oct 12, 2023; annual base salary $200,000.
- Cohen receives $1.35M in equity (RSA + options) vesting on market cap milestones ($100M-$200M) and revenue targets.
- Directors Michael Parris and Wayne Walker resigned without dispute; Walker gets $20K and accelerated option vesting.
- Rajiv Srinivasan and Timothy Szymanski appointed to board; each granted options for 30,000 shares at $1.40.
- Szymanski is retired Navy SEAL Vice Admiral; Srinivasan is former Microsoft director with military background.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1702924/000143774923028307/0001437749-23-028307-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1702924/000143774923028307/wrap20231015_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-028307

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer