secwatch.observer — SEC 8-K summary
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Issuer:     WRAP TECHNOLOGIES, INC. (WRAP)
CIK:        0001702924
Form:       8-K
Filed at:   2026-09-09T21:14:43+00:00
Accession:  0001493152-26-041992
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wrap Technologies grants CEO Cohen 4M and COO Novick 2M performance shares; extends option exercise period
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- Cohen and Novick each get $200k base salary, 2-year initial term, 12-month severance on qualifying termination.
- Cohen receives 4M performance restricted shares; Novick 2M; vesting at market caps $150M-$506.25M over 45 consecutive trading days.
- 1.6M of Cohen's and 800k of Novick's shares are void unless stockholders approve share increase by March 15, 2027.
- Stock option agreements amended to extend post-termination exercise period from 3 months to 24 months for both executives.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1702924/000149315226041992/0001493152-26-041992-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1702924/000149315226041992/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-041992

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