10% Owner Elwood G. Norris Reports Over $2 Million in Open Market Sales
Summary
Elwood G. Norris, a 10% owner of Wrap Technologies, Inc., reported open market sales totaling over $2 million across multiple transactions from June to November 2025.
Key Events
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Major Insider Selling
10% owner Elwood G. Norris reported open market sales of 814,411 shares of common stock.
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Substantial Value
The aggregate value of these open market dispositions totaled $2,046,282.
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Extended Selling Period
The sales occurred across 29 separate transactions between June 13, 2025, and November 28, 2025.
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Reduced Direct Ownership
Post-transaction, direct holdings for Elwood G. Norris decreased to 859,339 shares.
Analysis
This Form 4 filing reveals that Elwood G. Norris, a 10% owner of Wrap Technologies, Inc., executed substantial open market sales totaling $2.046 million across 29 transactions between June and November 2025. These dispositions, representing a significant portion of his direct holdings, indicate a notable reduction in exposure by a major shareholder. The timing of this disclosure, concurrent with a Schedule 13D/A filing by the Norris Family group, suggests these sales are part of a broader adjustment in their collective ownership. Investors should note the sustained selling activity by a significant insider.
At the time of this filing, WRAP was trading at $2.36 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $117.5M. The 52-week trading range was $1.20 to $3.23. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.