Wrap Technologies Announces Leadership Changes and Shareholder Votes
Ticker: WRAP · Form: 8-K · Filed: Dec 26, 2024 · CIK: 1702924
| Field | Detail |
|---|---|
| Company | Wrap Technologies, Inc. (WRAP) |
| Form Type | 8-K |
| Filed Date | Dec 26, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, board-election, officer-appointment, shareholder-vote
TL;DR
Wrap Technologies is shaking up leadership with new CEO/CFO and shareholder votes coming up.
AI Summary
On December 23, 2024, Wrap Technologies, Inc. filed an 8-K report detailing several key events. The company announced the election of new directors, including the appointment of a new Chief Executive Officer and Chief Financial Officer. Additionally, the filing disclosed details regarding compensatory arrangements for these officers and submitted matters to a vote of security holders.
Why It Matters
This filing indicates significant leadership transitions within Wrap Technologies, Inc., which could impact the company's strategic direction and operational execution.
Risk Assessment
Risk Level: medium — Leadership changes and shareholder votes can introduce uncertainty and potential shifts in company strategy.
Key Numbers
- 20241223 — Report Date (Earliest event reported)
Key Players & Entities
- Wrap Technologies, Inc. (company) — Registrant
- Delaware (jurisdiction) — State of incorporation
- Tempe, Arizona (location) — Principal executive offices
FAQ
Who were the newly elected directors?
The filing mentions the election of directors but does not name them in the provided text.
What are the specific compensatory arrangements for the new officers?
The filing indicates that details on compensatory arrangements are disclosed, but the specific terms are not provided in this excerpt.
What matters were submitted to a vote of security holders?
The filing states that matters were submitted to a vote, but the specific proposals are not detailed in this section.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on December 23, 2024.
What is the principal executive office address of Wrap Technologies, Inc.?
The principal executive offices are located at 1817 W 4th Street, Tempe, Arizona 85281.
Filing Stats: 1,039 words · 4 min read · ~3 pages · Grade level 11.3 · Accepted 2024-12-26 16:05:48
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share WRAP Nasdaq Capital Marke
Filing Documents
- wrap20241223_8k.htm (8-K) — 46KB
- ex_760399.htm (EX-10.1) — 9KB
- 0001437749-24-038378.txt ( ) — 188KB
- wrap-20241223.xsd (EX-101.SCH) — 3KB
- wrap-20241223_def.xml (EX-101.DEF) — 11KB
- wrap-20241223_lab.xml (EX-101.LAB) — 15KB
- wrap-20241223_pre.xml (EX-101.PRE) — 11KB
- wrap20241223_8k_htm.xml (XML) — 3KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. On December 23, 2024, the Company held its Annual Meeting. The matters voted upon at the Annual Meeting and the results of the voting are set forth below. As of the close of business on November 5, 2024, the record date for the Annual Meeting, there were 45,882,902 shares of the Company's Common Stock issued and outstanding, with each share entitled to one vote, and 8,207 shares of Series A Convertible Preferred Stock, par value $0.0001 per share ("Preferred Stock"), issued and outstanding, with the Preferred Stock entitled to an aggregate of 5,804,102 votes, constituting all of the eligible securities entitled to vote on the proposals described below. Holders of the Company's Common Stock and Preferred Stock with a total aggregate voting power of 25,715,576 votes were present in person or represented by proxy at the Annual Meeting. The matters described below were submitted to a vote of the holders of the Company's Common Stock and Preferred Stock at the Annual Meeting. Each proposal is described in detail in the Company's Proxy Statement. All proposals were approved by the Company's stockholders. 1. Election of the five directors named in the Proxy Statement to the Company's board of directors to serve until the annual meeting of stockholders in 2025 or until each one's respective successor has been duly elected and qualified. For Withheld Broker Non-Votes Scot Cohen 12,776,457 419,823 12,519,660 Bruce T. Bernstein 11,537,157 1,659,123 12,519,660 Marc Savas 12,178,796 1,017,484 12,519,660 Rajiv Srinivasan 11,582,135 1,614,145 12,519,660 Vice Admiral Tim Szymanski 11,644,860 1,551,420 12,519,660 2. Ratification of HTL International, LLC as the Company's Independent Auditors for the Fiscal Year Ended December 31, 2024. For Against Abstain 24,347,393 1,055,300 313,247 3. Approval of a proposed amendment to the Wrap Technologies, Inc. 2017 Equity Compensation Plan, as
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Fifth Amendment to the Wrap Technologies, Inc. 2017 Equity Compensation Plan. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WRAP TECHNOLOGIES, INC. Date: December 26, 2024 By: /s/ Scot Cohen Scot Cohen Chief Executive Officer and Chairman of the Board