UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): July 1, 2021
WRAP TECHNOLOGIES, INC.
(Exact name of Registrant as specified in its Charter)
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Delaware
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000-55838
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98-0551945
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(State
or other jurisdiction
of
incorporation)
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(Commission
File No.)
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(IRS
Employer
Identification
No.)
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1817 W
4th
Street, Tempe, Arizona 85281
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(Address
of principal executive offices)
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(800)
583-2652
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(Registrant’s
Telephone Number)
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Not
Applicable
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(Former
name or address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
☐ Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
☐ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a -12)
☐ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d -2(b))
☐ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e -4(c))
Securities registered pursuant to Section 12(b) of the
Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which
registered
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Common
Stock, par value $0.0001 per share
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WRAP
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Nasdaq
Capital Market
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Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (17
CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934
(17 CFR 240.12b-2)
Emerging Growth Company [X]
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange
Act ☐
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers
On July 1, 2021, Wrap Technologies, Inc. (the
“Company”) announced the appointment of Glenn
Hickman as Chief Operating Officer (“COO”). Since March 2021, Mr.
Hickman has served as a consultant to the Company, and following
his appointment as COO, Mr. Hickman will continue to work closely
with the growing engineering and operations teams to continue
building out the Company’s product lines.
Hickman is a proven executive with
extensive research and development, supply chain, manufacturing,
and software engineering experience. Hickman worked at Axon
Enterprises (formerly TASER International) from 2011-2019, serving
as Vice President of Research and Development from 2014-2019. At
Axon, Hickman led the launch of six hardware products, all
connected to an ecosystem of cloud software and mobile apps. He
created engineering and supply chain processes and grew the
engineering team from 35 to 70. Hickman was responsible for
establishing the company’s first manufacturing line in
Shenzhen, China, and an optics engineering team in
Finland.
Hickman
graduated with distinction from Stanford University, receiving his
Bachelor and Master of Science in Mechanical Engineering. Hickman
received his MBA with honors from Northwestern University’s
Kellogg School of Management with a double major in Strategy and
Marketing.
In his
capacity as COO, Mr. Hickman will be an at-will employee, and shall
be paid an annual base salary of $225,000 per year. In connection
with his appointment as a consultant, Mr. Hickman was issued (i) a
seven year option to purchase 70,000 shares of the Company’s
common stock at an exercise price of $5.50 per share
(“Option”), and
(ii) 30,000 shares of restricted stock (“RSUs”). The RSUs vest 33.33% on
July 1, 2022 with the balance vesting ratably every six months over
the next two years thereafter. The Option vests 33.33% on July 1,
2022 with the balance vesting ratably every month beginning August
1, 2022 over the next two years thereafter.
On July
1, 2021, Woody Norris, inventor of the
BolaWrap, retired from the Company as Chief Technology Officer. Mr.
Norris will continue to play an active role at the Company as a
consultant focusing on new innovations.
A copy of the press release announcing the
appointment of Mr. Hickman and Mr.
Norris’ retirement is
attached to this Current Report on Form 8-K as Exhibit 99.1 and is
incorporated by reference herein.
Item 8.01. Other Events.
See
Item 5.02.
Item 9.01 Financial Statements and Exhibits
See
Exhibit Index.
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.
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WRAP TECHNOLOGIES, INC.
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Date:
July 2, 2021
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By:
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/s/ James A.
Barnes
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James
A. Barnes
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Chief
Financial Officer, Treasurer and Secretary
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Exhibit Index
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Exhibit No.
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Description
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Press Release Dated
July 2, 2021
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