Wrap Technologies Grants RSUs and Stock Options to Key Executives

On February 5, 2025, Wrap Technologies, Inc. (OTCMKTS: WRTC) took significant steps to incentivize its top executives. The Compensation Committee of the company’s Board of Directors granted a one-time award of 250,000 restricted stock units (RSUs) to Scot Cohen, the Chief Executive Officer and Executive Chairman, along with Jared Novick, the Chief Operating Officer. These RSUs vested entirely on the same day they were granted.

In addition to the RSUs, the executives were also awarded stock options to purchase a total of 500,000 shares of Wrap Technologies’ common stock. These options have an exercise price set at $1.98 per share and are scheduled to vest in four approximately equal instalments on each yearly anniversary of the grant date. The vesting of these stock options is subject to the continued employment or service provision by the recipients through each vesting date. The grants of RSUs and stock options were made under the company’s 2017 Equity Compensation Plan.

This move is aimed at retaining key talent within the company and aligning the executives’ interests with long-term shareholder value. Such incentives not only acknowledge the contributions of the executives but also aim to drive performance and strategic growth within Wrap Technologies.

This information was disclosed in a filing with the Securities and Exchange Commission on February 11, 2025. According to the filing, Wrap Technologies, Inc. confirmed the grants by the undersigned, Scot Cohen, who serves as the Chief Executive Officer and Chairman of the Board.

Investors and stakeholders will be keeping a close watch on how these newly granted incentives impact the company’s leadership dynamics and ultimately its financial performance in the foreseeable future.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Wrap Technologies’s 8K filing here.

Wrap Technologies Company Profile

Wrap Technologies, Inc operates as a development stage security technology company. It focuses on delivering solutions to customers, primarily law enforcement and security personnel. The firm products includes BolaWrap 100, which is a hand-held remote restraint device that discharges an eight-foot bola style Kevlar tether to entangle an individual at a range of 10-25 feet.