Wrap Technologies, Inc. filed a Form 8-K on October 26, 2026, disclosing the appointment of Edward Delatorre to its Board of Directors, effective October 20, 2026, along with an option grant tied to that appointment.

Key Highlights

  • Board expanded: The Board increased in size from six directors to seven directors, effective October 20, 2026.
  • New director: Edward Delatorre was appointed to serve 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.
  • No committee assignments: As of the filing date, Mr. Delatorre has not been appointed to any committees of the Board.
  • Option grant: Mr. Delatorre received options to purchase 30,000 shares of common stock at an exercise price of $1.45 per share.
  • Vesting schedule: 50% of the options vest on October 20, 2027, with the remaining 50% vesting in four equal quarterly installments over the following year.
  • No related-party transactions: The filing states 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.

Board Expansion and Delatorre Appointment Details

According to the filing, Wrap Technologies, Inc. (NASDAQ:WRAP) reported that its Board of Directors voted on October 20, 2026, to increase the board's size from six to seven members and simultaneously appointed Edward Delatorre as the seventh director. The company disclosed that Mr. Delatorre's term runs until the 2026 annual meeting of stockholders, or until his successor is duly elected and qualified, or until his earlier death, resignation, or removal.

In connection with his appointment, the company granted Mr. Delatorre options to purchase 30,000 shares of common stock, par value $0.0001 per share, at an exercise price of $1.45 per share. The filing specifies a ten-year term for the options, with vesting structured as follows: 50% on October 20, 2027, and the remaining 50% in four equal quarterly installments over the subsequent year, subject to the terms and conditions of the applicable non-employee non-statutory stock option agreement.

The filing further states that "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." The company also confirmed no related-party transactions requiring disclosure under Item 404(a) of Regulation S-K. The report was signed by Scot Cohen, Chief Executive Officer, on October 26, 2026.

What Was Disclosed

Wrap Technologies disclosed the expansion of its Board of Directors from six to seven members and the appointment of Edward Delatorre as a new director, effective October 20, 2026, along with a stock option grant covering 30,000 shares at $1.45 per share.