Wrap Technologies grants COO 2M restricted shares
WRAP TECHNOLOGIES, INC.
Rhea-AI Filing Summary
WRAP TECHNOLOGIES, INC. (symbol: WRAP) is the issuer of record for a Form 4 filing submitted to the SEC. Novick Jared reported acquisition or exercise transactions in this Form 4 filing.
WRAP TECHNOLOGIES, INC. reported that President and COO Jared Novick received a grant of 2,000,000 shares of restricted common stock on September 2, 2026. The award carries voting and dividend rights from grant and vests in four 500,000‑share tranches upon achieving specified market capitalization targets sustained over 45 consecutive trading days, ranging from $150 million up to $506.25 million. If stockholder approval of an increase in shares reserved under the Wrap Technologies, Inc. 2017 Equity Compensation Plan is not obtained by March 15, 2027, 800,000 of these restricted shares will be forfeited. After the grant, Novick is reported to hold 2,153,012 shares directly and 275,000 shares indirectly through a Scot Cohen Roth IRA.
Positive
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Insider Trade Summary
Grant/Award: 2,000,000 shares
Grant/Award
2 txns
Insider
Novick Jared
Role
President and COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock F1, F2 | 2,000,000 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 2,153,012 shares (Direct);
Common Stock — 275,000 shares (Indirect, By Scot Cohen Roth IRA)
Footnotes (2)
- F1. Represents a grant of restricted stock. The restricted stock contained voting rights and dividend rights on the date of grant. The restricted stock will vest as follows: (i) 500,000 shares on the date the Company's market capitalization meets or exceeds $150 million for each trading day during 45 consecutive trading days; (ii) 500,000 shares on the date the Company's market capitalization meets or exceeds $225 million for each trading day during 45 consecutive trading days; (iii) 500,000 shares on the date the Company's market capitalization meets or exceeds $337.5 million for each trading day during 45 consecutive trading days; and (iv) 500,000 shares on the date the Company's market capitalization meets or exceeds $506.25 million for each trading day during 45 consecutive trading days.
- F2. In the event that stockholder approval of an increase in shares of Common Stock reserved for issuance under Wrap Technologies, Inc. 2017 Equity Compensation Plan is not obtained prior to March 15, 2027, 800,000 of the awarded restricted stock are null and void and subject to forfeiture.
Key Figures
Restricted stock grant: 2,000,000 shares
Direct holdings after grant: 2,153,012 shares
Indirect holdings after grant: 275,000 shares
+5 more
8 metrics
Restricted stock grant
2,000,000 shares
Restricted common stock granted to President and COO Jared Novick on September 2, 2026
Direct holdings after grant
2,153,012 shares
Common stock directly owned by Jared Novick following the reported transaction
Indirect holdings after grant
275,000 shares
Common stock held indirectly by Scot Cohen Roth IRA as reported for Novick
First vesting market cap target
$150 million
Market capitalization required for first 500,000 restricted shares to vest, sustained 45 consecutive trading days
Second vesting market cap target
$225 million
Market capitalization required for second 500,000 restricted shares to vest, sustained 45 consecutive trading days
Third vesting market cap target
$337.5 million
Market capitalization required for third 500,000 restricted shares to vest, sustained 45 consecutive trading days
Fourth vesting market cap target
$506.25 million
Market capitalization required for final 500,000 restricted shares to vest, sustained 45 consecutive trading days
Shares subject to forfeiture
800,000 shares
Portion of the restricted stock that becomes null and void if stockholder approval to increase plan reserve is not obtained by March 15, 2027
Key Terms
restricted stock, market capitalization, dividend rights, trading days, +1 more
5 terms
restricted stock financial
"Represents a grant of restricted stock. The restricted stock contained voting"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
market capitalization financial
"on the date the Company's market capitalization meets or exceeds $150 million"
Market capitalization is the total market value of a company’s outstanding shares, calculated by multiplying the current share price by the number of shares issued. It gives a quick snapshot of a company’s size and how investors value it, influencing perceived risk, index membership, and roughly how much it might cost to buy the whole company — like using a sticker price to compare the relative size and price of different houses.
dividend rights financial
"The restricted stock contained voting rights and dividend rights on the date"
Dividend rights are a shareholder’s entitlement to receive a portion of a company’s profits when the board declares a payout, similar to having a ticket that lets you take a slice of a shared pie. These rights determine who gets paid, how much and in what order (different share classes can have priority), so they matter to investors because they affect expected income, trade value and how quickly cash returns to owners.
trading days financial
"for each trading day during 45 consecutive trading days; (ii) 500,000 shares"
Trading days are the specific days when a stock exchange is open and buying and selling of securities can occur, excluding weekends and exchange-declared holidays. Investors use trading days to measure performance, calculate settlement deadlines and time-sensitive events—think of them as the business hours calendar for markets, where returns, volumes and deadlines are counted only on days the market is operating.
2017 Equity Compensation Plan financial
"reserved for issuance under Wrap Technologies, Inc. 2017 Equity Compensation Plan"
FAQ
What insider transaction did WRAP Technologies (WRAP) report for Jared Novick?
WRAP Technologies reported that President and COO Jared Novick received a grant of 2,000,000 shares of restricted common stock on September 2, 2026, as equity compensation with performance-based vesting tied to the company’s market capitalization.
What forfeiture condition applies to Jared Novick’s WRAP restricted stock grant?
The company states that if stockholder approval of an increase in shares reserved under the Wrap Technologies, Inc. 2017 Equity Compensation Plan is not obtained by March 15, 2027, then 800,000 of the awarded restricted shares will be null and void and subject to forfeiture.
Was the WRAP Technologies Form 4 transaction made under a Rule 10b5‑1 trading plan?
The filing’s Rule 10b5‑1 checkbox is not affirmed, and no footnote indicates a trading plan, so the company does not report this grant as made under a Rule 10b5‑1 plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
