Wrap Technologies Reports Approval of Incentive Plan Amendment and Director Elections at Annual Meeting

Wrap Technologies, Inc. (OTCMKTS: WRTC) recently held its annual meeting of stockholders on December 23, 2024, where significant decisions were made. The company announced that its stockholders approved an amendment to the 2017 Equity Compensation Plan. This amendment, known as the “Incentive Plan Amendment,” increases the number of shares of common stock available for awards under the Incentive Plan by 7,500,000 shares, bringing the total to 16,500,000 shares of common stock.

Details about the Incentive Plan Amendment can be found in the company’s definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on November 12, 2024. The specifics of the amendment are incorporated into the filing as part of the complete text.

Moreover, Wrap Technologies held its Annual Meeting where various proposals were voted on by the stockholders. The first proposal involved electing five directors named in the Proxy Statement to the company’s board of directors to serve until the annual meeting of stockholders in 2025. Each director’s re-election was approved, with detailed voting results provided.

Additionally, other proposals included the ratification of HTL International, LLC as the company’s Independent Auditors for the fiscal year ended December 31, 2024, and the approval of a proposed amendment to the 2017 Equity Compensation Plan. All proposals were successfully approved by the stockholders present at the Annual Meeting, marking a positive outcome for the company.

The results of the voting process signify the alignment between the company’s strategic direction and the support of its shareholders. The company aims to leverage these decisions to enhance its operations and drive growth moving forward.

No further matters were addressed or decided upon at the Annual Meeting. The final results reported in the filing reflect a positive outcome for the company, indicating a unified approach towards its governance and future endeavors.

The financial terms of the amendments and approvals were not disclosed in the filing. The company anticipates that these decisions will contribute positively to its financial outlook and operational efficiency. The closing of the Annual Meeting marked a significant milestone for Wrap Technologies, showcasing strong support from its stakeholders.

Investors and stakeholders interested in further details regarding the company’s recent developments can access the complete filing on the Securities and Exchange Commission’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Wrap Technologies’s 8K filing here.

About Wrap Technologies

Wrap Technologies, Inc operates as a development stage security technology company. It focuses on delivering solutions to customers, primarily law enforcement and security personnel. The firm products includes BolaWrap 100, which is a hand-held remote restraint device that discharges an eight-foot bola style Kevlar tether to entangle an individual at a range of 10-25 feet.