4//SEC Filing
Cohen Scot 4
Accession 0001415889-23-014300
CIK 0001702924other
Filed
Oct 15, 8:00 PM ET
Accepted
Oct 16, 8:56 PM ET
Size
16.1 KB
Accession
0001415889-23-014300
Insider Transaction Report
Form 4
Cohen Scot
DirectorExecutive Chairman and CEO10% Owner
Transactions
- Award
Stock Options
2023-10-12+1,290,166→ 1,290,166 totalExercise: $1.40Exp: 2033-10-12→ Common Stock (1,290,166 underlying) - Award
Common Stock
2023-10-12+482,143→ 5,477,654 total
Holdings
- 1,750(indirect: By LLC)
Series A Convertible Preferred Stock
Exercise: $1.45From: 2023-09-19→ Common Stock (1,206,897 underlying) - 100,000
Stock Options
Exercise: $5.56From: 2021-12-01Exp: 2031-04-01→ Common Stock (100,000 underlying) - 862,069
Warrants
Exercise: $1.45From: 2024-01-03Exp: 2028-07-05→ Common Stock (862,069 underlying) - 1,250
Series A Convertible Preferred Stock
Exercise: $1.45From: 2023-09-19→ Common Stock (862,069 underlying) - 1,208,647(indirect: By LLC)
Warrants
Exercise: $1.45From: 2024-01-03Exp: 2028-07-05→ Common Stock (1,206,897 underlying)
Footnotes (6)
- [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.
- [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.
- [F3]Stock options were issued on April 1, 2021, reported on a Form 4 filed on April 5, 2021, and are fully vested.
- [F4]The Series A Convertible Preferred Stock ("Preferred Shares") conversion price is subject to adjustment in the event of any issuances of shares of the Issuer's Common Stock, or securities convertible, exercisable or exchangeable for Common Stock, at a price below $1.45.
- [F5]Shares of Series A Convertible Preferred Stock do not expire.
- [F6]The conversion price of the Warrants is subject to adjustment in the event of any issuances of Common Stock, or securities convertible, exercisable or exchangeable for Common Stock, at a price below $1.45.
Documents
Issuer
WRAP TECHNOLOGIES, INC.
CIK 0001702924
Entity typeother
Related Parties
1- filerCIK 0001558913
Filing Metadata
- Form type
- 4
- Filed
- Oct 15, 8:00 PM ET
- Accepted
- Oct 16, 8:56 PM ET
- Size
- 16.1 KB