WRAP Technologies (WRAP) 10% Owner Scot Cohen Receives 4M Share Award

What Happened
Scot Cohen, reported as a 10% owner of WRAP Technologies, was granted 4,000,000 restricted shares on 2026-09-02 at $0.00 per share (total consideration $0). The restricted shares carry voting and dividend rights at grant and will vest only if the company meets specified market-cap milestones for sustained periods. This is an award/grant (code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-09-02; Form 4 filed 2026-09-04 (filed within reporting window).
• Amount: 4,000,000 restricted shares granted at $0.00 (value reported as $0).
• Shares owned after transaction: Not specified in the filing.
• Vesting terms (footnote): Four tranches of 1,000,000 shares each vest when WRAP’s market capitalization reaches and remains at or above: $150M, $225M, $337.5M, and $506.25M, each for 45 consecutive trading days.
• Conditional forfeiture (footnote): If shareholder approval to increase shares reserved under the 2017 Equity Compensation Plan is not obtained before March 15, 2027, 1,600,000 of the awarded restricted shares become null and void and are subject to forfeiture.
• Transaction type: Award/Grant (A) — compensation/incentive equity, not a purchase or sale.

Context

• Award vs. open-market trades: Grants of restricted stock are typically compensation or retention incentives and differ from purchases or sales in that they vest on milestones or time-based conditions.
• Insider status: As a reported 10% owner, this is a control/insider transaction; it reflects an equity award to a major holder rather than routine trading activity.
• No sale or cash exercise occurred; the shares only vest if the specified market-cap conditions (and plan-approval condition) are satisfied.