Form 4 for WRAP WRAP TECHNOLOGIES, INC.
Accepted 2023-10-16 00:00:00 ET · period of report 2023-10-12 · accession 0001415889-23-014300 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2023-10-16 | 2023-10-12 | WRAP | Cohen Scot | EXECUTIVE COB, Dir, 10% | A - Grant | $0.00 | +482.1K | 5.48M | +10% | $0 |
| D | 2023-10-16 | 2023-10-12 | WRAP | Cohen Scot | EXECUTIVE COB, Dir, 10% | A - Grant | $0.00 | +1.29M | 1.29M | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2023-10-12 | A | A | 482,143 | $0.00 | 5,477,654 | D | — | — | (F1) Represents grant of restricted shares of common stock, par value $0.0001 per share ("Common Stock") of Wrap Technologies, Inc. (the "Issuer") issued in connection with the Reporting Person's appointment as Executive Chairman. Shares will be issued upon vesting and shall vest, subject to Reporting Person's continued employment, (i) 1/3rd on the date on which the Issuer's market capitalization meets or exceeds $100 million for each trading day during 2 consecutive months; (ii) 1/3rd on the date on which the Issuer's market capitalization meets or exceeds $150 million for each trading day during 2 consecutive months; and (iii) 1/3rd on the date on which the Issuer's market capitalization meets or exceeds $200 million for each trading day during 2 consecutive months. The RSAs are subject to accelerated vesting upon the occurrence of certain events. |
| 2 | Derivative | Stock Options | 2023-10-12 | A | A | 1,290,166 | $0.00 | 1,290,166 | D | $1.40 · — to 2033-10-12 | 1,290,166 Common Stock | (F2) Represents nonqualified stock options issued in connection with the Reporting Person's appointment as Executive Chairman, and represents 2.25% of the fully diluted issued and outstanding shares of the Issuer's Common Stock on the grant date. The stock options will vest, subject to Reporting Person's continued employment with the Issuer through each vesting date, as follows: (i) 1/3rd on the date on which the Issuer's market capitalization meets or exceeds $100 million for each trading day during 2 consecutive months; (ii) 1/3rd on the date on which the Issuer's market capitalization meets or exceeds $150 million for each trading day during 2 consecutive months; and (ii) 1/3rd on the date on which the Issuer's market capitalization meets or exceeds $200 million for each trading day during 2 consecutive months, subject to accelerated vesting upon the occurrence of certain events. |