WRAP TECHNOLOGIES, INC. (WRAP): director Edward Delatorre elected to the board

Events in this filing

Item 5.02 as filed

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
October 20, 2026, the Board of Directors (the “Board”) of Wrap Technologies, Inc. (the “Company”) increased the
size of the Board from six directors to seven directors and appointed Edward Delatorre to the Board, effective immediately, to serve
as a director until the Company’s 2026 annual meeting of stockholders or until his successor is duly elected and qualified, or
until his earlier death, resignation, or removal. As of the date of this Current Report on Form 8-K, Mr. Delatorre has not been appointed
to any committees of the Board.
There
are no arrangements or understandings between Mr. Delatorre and any other persons pursuant to which Mr. Delatorre was selected to serve
as a director of the Company. In addition, there are no transactions between the Company and Mr. Delatorre or his immediate family members
requiring disclosure under Item 404(a) of Regulation S-K promulgated under the Securities Act of 1933, as amended.
In
connection with his appointment, the Company granted Mr. Delatorre options (“Options”) to purchase 30,000 shares of Company
common stock, par value $0.0001 per share, with an exercise price of $1.45 per share. The Options have a ten-year term, and vest as follows:
(i) 50% on October 20, 2027 and (ii) the remaining 50% in four equal quarterly installments over the next year, subject to the terms
and conditions of the applicable non-employee non-statutory stock option agreement.