On September 2, 2026, Wrap Technologies approved amended employment agreements for Executive Chairman and CEO Scot Cohen and President and COO Jared Novick. Both executives receive a $200,000 annualized base salary with automatic two-year terms and twelve months of severance upon qualifying termination. The company granted performance restricted stock awards to both executives: 4,000,000 shares for Cohen and 2,000,000 for Novick. Vesting is tied to market capitalization milestones ranging from $150 million to $506.25 million over consecutive trading days. The filing also extends the post-termination exercise period for existing stock options from three months to twenty-four months. Wrap Technologies operates in the packaging industry, providing sustainable wrapping solutions.
