Novick Jared 4

What Happened

• Jared Novick, President and COO of WRAP Technologies (WRAP), received a grant of 1,000,000 derivative shares (reported as an award) on February 1, 2026. The filing reports an acquisition price of $0.00 per share (derivative award), so no cash was paid in this transaction.
• Per the filing footnote, 25% of the award (250,000 shares) vested on the grant date; the remaining 750,000 will vest ratably in three annual tranches thereafter. Unvested portions may accelerate if certain market-capitalization milestones are met, provided Novick remains employed or providing services on vesting dates.

Key Details

• Transaction date: 2026-02-01; Form 4 filed 2026-02-03 (appears timely).
• Transaction type/code: Grant/Award (A) of derivative securities (stock options/awards).
• Amount and price: 1,000,000 shares @ $0.00 (reported as derivative acquisition).
• Vesting: 25% vested at grant (250,000); remaining 75% vests ratably over three years; potential accelerated vesting tied to market-cap milestones.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Notes: This is a compensation equity award (not an open-market purchase or sale); such grants are common for employment incentives and do not by themselves indicate a buy or sell sentiment.

Context

• Because this is a derivative award with a multi-year vesting schedule (and potential performance-based acceleration), the award aligns with long-term incentive pay rather than an immediate transfer of tradable shares. Retail investors should view this as company compensation, not a direct market purchase or sale.