Wrap Technologies: appoints director Edward Delatorre

What happened

• The filing says the board increased its size from 6 directors to 7 and appointed Edward Delatorre to the board, effective Oct 20, 2026.
• The filing says Mr. Delatorre was appointed to serve until the company’s 2026 annual meeting of stockholders or until his successor is elected and qualified, or until his earlier death, resignation, or removal.
• The filing says the company granted Mr. Delatorre options to purchase 30,000 shares of common stock with an exercise price of $1.45 per share.

Key details

• Board size: increased from 6 to 7 directors on Oct 20, 2026.
• Option grant: 30,000 options, exercise price $1.45 per share, term of 10 years.
• Vesting: 50% vest on Oct 20, 2027; remaining 50% vest in four equal quarterly installments over the following year.
• The filing says Mr. Delatorre was not appointed to any board committees as of the report date and that there are no arrangements or reportable related-party transactions involving him.

Why it may matter

• Item reported: Item 5.02 (departure of directors or certain officers; election of directors), which covers director appointments and related disclosures.
• A filing does not show why the insider traded or why the company acted.