SHULMAN JOHN D 4

What Happened

• John D. Shulman, a director of WRAP Technologies, participated in a private placement on Feb 2, 2026. He acquired 250,000 common shares at $2.00 each (total $500,000) and was also reported as acquiring 250,000 derivative securities (PIPE warrants) at $0.00 (reported value $0).
• The share purchase and the warrants were made under a Securities Purchase Agreement dated February 2, 2026. The warrants' exercise price is subject to adjustment if the company issues stock (or convertible securities) below $2.30.

Key Details

• Transaction date: 2026-02-02 (reported 2026-02-03; filing appears timely)
• Purchase: 250,000 common shares @ $2.00 = $500,000
• Derivative: 250,000 PIPE warrants reported at $0.00 (see footnote re: purchase and price adjustment)
• Ownership reporting: The securities are directly owned by Juggernaut Management, LLC and may be deemed beneficially owned by Shulman as Manager; Shulman disclaims ownership except for his pecuniary interest (per footnote).
• Shares owned after transaction: Not specified in the provided filing details

Context

• This is a direct purchase in a private placement (often viewed as a stronger signal than routine open-market buys because it typically reflects access to issuer financing), plus acquisition of warrants that give future upside if exercised. The warrants include an adjustment provision for future low-priced issuances.
• The derivative was reported as an acquisition of warrants (code A); no immediate exercise or sale of stock was reported.