NORRIS ELWOOD G 4
4 · WRAP TECHNOLOGIES, INC. · Filed May 5, 2026
Research Summary
AI-generated summary of this filing
WRAP Technologies (WRAP) 10% Owner Elwood G. Norris Sells Shares
What Happened
Elwood G. Norris, reported as a 10% owner of WRAP Technologies, sold a total of 189,095 common shares in a series of open-market transactions between Feb 2 and Feb 10, 2026. The individual transactions reported were: Feb 2 — 31,991 shares at a weighted average ~$2.08 ($66,439); Feb 3 — 20,000 shares at ~$2.20 ($44,020); Feb 6 — 75,000 shares at ~$1.87 ($140,573); Feb 9 — 35,000 shares at ~$1.82 ($63,574); Feb 10 — 27,104 shares at ~$1.82 ($49,291). Total reported proceeds are approximately $363,897. These were sales (not purchases), which are generally routine cashing‑out activity rather than a direct bullish signal.
Key Details
- Transaction dates & reported amounts: Feb 2, 31,991 sh @ ~$2.08; Feb 3, 20,000 sh @ ~$2.20; Feb 6, 75,000 sh @ ~$1.87; Feb 9, 35,000 sh @ ~$1.82; Feb 10, 27,104 sh @ ~$1.82. Total ≈189,095 shares, ≈$363,897 proceeds.
- Shares owned after transaction: Filing states Mr. Norris no longer beneficially owns 10% or more of the common stock (exact post-sale holdings not provided in the filing).
- Footnotes: The reported prices are weighted averages; the filing notes each sale was made in multiple transactions at varying prices and that the reporting person will provide detailed per‑trade price breakdowns on request.
- Timeliness: The Form 4 was filed May 5, 2026 while the trades occurred Feb 2–10, 2026; this filing appears untimely (filed several months after the trades).
- Other notes: The filing says subsequent sales by Mr. Norris are not listed and that he made no purchases of the common stock since Feb 10, 2026.
Context
As a 10% owner (a large shareholder), these sales reflect a major-holder liquidation rather than an officer/director purchase; such sales can be for many reasons (liquidity, portfolio rebalancing, etc.) and do not by themselves indicate company performance. Purchases generally carry more weight as a bullish signal; here the activity was all sales.
Insider Transaction Report
- Sale
Common Stock
[F1]2026-02-02$2.08/sh−31,991$66,439→ 5,268,033 total(indirect: By Trust) - Sale
Common Stock
[F2]2026-02-03$2.20/sh−20,000$44,020→ 5,236,042 total(indirect: By Trust) - Sale
Common Stock
[F3]2026-02-06$1.87/sh−75,000$140,573→ 5,216,042 total(indirect: By Trust) - Sale
Common Stock
[F4]2026-02-09$1.82/sh−35,000$63,574→ 5,141,042 total(indirect: By Trust) - Sale
Common Stock
[F5]2026-02-10$1.82/sh−27,104$49,291→ 5,113,938 total(indirect: By Trust)
Footnotes (5)
- [F1]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $2.04 to $2.10 inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (1) of this Form 4. The amount reflected has been rounded to 2 decimal points.
- [F2]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $1,985 to $2.08 inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (2) of this Form 4. The amount reflected has been rounded to 3 decimal points.
- [F3]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $1.85 to $1.90, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (2) of this Form 4. The amount reflected has been rounded to 2 decimal points.
- [F4]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $1.795 to $1.825, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (2) of this Form 4. The amount reflected has been rounded to 3 decimal points.
- [F5]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $1.80 to $1.232, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (2) of this Form 4. The amount reflected has been rounded to 3 decimal points.