SCHEDULE 13D/A: WRAP Technologies Insider Elwood Norris and Family Trust Plan Sale of Over 500,000 Shares

Elwood G. Norris, a significant beneficial owner of WRAP Technologies, Inc., along with Stephanie A. Norris and the Norris Family 1997 Trust, have filed an intent to sell up to 505,542 shares of the company's common stock.

Summary

• This document is Amendment No. 3 to Schedule 13D, filed by Elwood G. Norris, Stephanie A. Norris, and the Norris Family 1997 Trust, regarding their beneficial ownership in WRAP Technologies, Inc.
• As of the filing, Elwood G. Norris beneficially owns an aggregate of 6,320,392 shares of Common Stock, representing 12.5% of the Issuer's outstanding shares.
• This total includes 869,339 shares held directly by Elwood G. Norris and 5,451,053 shares held by the Norris Family 1997 Trust, over which he shares voting and dispositive power.
• Stephanie A. Norris, individually and as trustee, and the Norris Family 1997 Trust each beneficially own 5,451,053 shares, representing 10.8% of the outstanding Common Stock, with shared voting and dispositive power.
• The beneficial ownership percentages are calculated based on 50,494,701 shares of Common Stock outstanding as of March 25, 2025, as reported in the Issuer's Annual Report on Form 10-K.
• The reporting persons filed a Form 144 on May 6, 2025, indicating their intent to sell up to 505,542 shares of Common Stock from time to time through broker transactions.

Sentiment

Score: 4

Explanation: The intent of significant beneficial owners to sell a substantial number of shares typically signals a lack of confidence or a need for liquidity, which can be viewed negatively by the market, hence a slightly negative score.

Negatives

• A significant beneficial owner and related entities intend to sell a substantial number of shares (505,542), which could signal a lack of confidence or a need for liquidity on their part.
• The planned sale could introduce downward pressure on the company's stock price due to increased supply in the market.

Risks

• The sale of a large block of shares by a significant beneficial owner may lead to negative market perception and potential stock price depreciation.
• Increased selling pressure from insiders could impact investor sentiment and liquidity for the stock.

Future Outlook

The reporting persons have indicated their future intent to sell up to 505,542 shares of WRAP Technologies, Inc. common stock through broker transactions.

Industry Context

This filing primarily concerns an insider's intent to sell shares, which is a specific transaction related to individual beneficial ownership rather than a broader industry trend or competitive development.

Stakeholder Impact

• Shareholders may experience potential downward pressure on the stock price due to the increased supply of shares from the insider sale.
• Investor sentiment regarding the company's prospects may be negatively impacted by the insider selling activity.

Next Steps

• The reporting persons are expected to proceed with the sale of up to 505,542 shares of Common Stock from time to time in broker transactions.

Key Dates

Recommendation

Keywords

WRAP Technologies, SEC filing, Schedule 13D, insider selling, beneficial ownership, Form 144, stock sale, shareholder, corporate governance