Wrap Technologies (WRAP) President Jared Novick Receives Award

What Happened
Jared Novick, President and Chief Operating Officer of Wrap Technologies, was granted 2,000,000 shares of restricted common stock on 2026-09-02. The shares were granted at $0.00 per share (no cash paid at grant). This is an equity award (not an open-market purchase or sale) and will vest only if specified market-capitalization milestones are met.

Key Details

• Transaction date and price: 2026-09-02; grant price $0.00 per share.
• Shares granted: 2,000,000 restricted shares (500,000 shares per vesting tranche).
• Shares owned after transaction: not specified in the excerpt of the filing provided.
• Vesting and rights (Footnote F1): restricted shares carried voting and dividend rights at grant; they vest in four 500,000-share tranches upon the company reaching specified market-capitalization thresholds for 45 consecutive trading days:
  • 500,000 shares at $150M market cap;
  • 500,000 shares at $225M;
  • 500,000 shares at $337.5M;
  • 500,000 shares at $506.25M.
• Contingency (Footnote F2): if stockholder approval to increase shares reserved under the 2017 Equity Compensation Plan is not obtained by March 15, 2027, 800,000 of the awarded shares will be null and void and subject to forfeiture.
• Filing timeliness: Reported on the Form 4 filed 2026-09-04 for a 2026-09-02 grant — appears to be filed within the standard two-business-day window.

Context
Restricted stock awards give the recipient an interest in company shares subject to vesting conditions. These grants don't represent an immediate cash outlay by the insider and are not the same as an open-market purchase (which some investors view as a stronger bullish signal). The award’s ultimate value to the insider depends on Wrap’s future share price and satisfaction of the market-capitalization and approval conditions noted above.