CEO Scot Cohen Amends Form 4 to Reflect Actual Purchase of 209K Shares at $1.10, Not 21K
WRAP has more than doubled off its 52-week low of $1.04 on elevated volume (46× avg).
Summary
An amended Form 4 reveals that CEO Scot Cohen actually bought 209,353 shares for $230,288 at $1.10, not the 21,740 shares originally reported. The correction highlights a much larger insider purchase amid positive company momentum.
Key Events · Ownership and Investor Activity · WRAP
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CEO Purchase Corrected to 209K Shares
An amended Form 4 corrects CEO Scot Cohen's July 8 open-market purchase to 209,353 shares at $1.10, totaling $230,288—nearly 10x the originally reported 21,740 shares.
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Shares Held in Roth IRA
The shares are held indirectly by the Scot Cohen Roth IRA, correcting the original filing which reported direct ownership.
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Insider Accumulation Signal
The corrected purchase represents 0.175% of market cap and follows a $110K buy by Director John Shulman on July 9, signaling strong insider conviction amid recent positive operational news.
Analysis · WRAP · Manufacturing
Yesterday's original Form 4 understated CEO Scot Cohen's open-market purchase by nearly 10x, reporting 21,740 shares instead of the actual 209,353 shares. This amendment sets the record straight, revealing a $230,288 buy at $1.10 per share held in his Roth IRA. The correction is material: what appeared to be a modest $24K transaction is in fact a significant insider accumulation by the Executive Chairman and CEO, representing 0.175% of the company's market cap. It arrives amid a series of positive operational developments—a major contract renewal, new product adoption, and favorable regulatory classification—and follows a $110K purchase by another director just days ago, reinforcing insider confidence.
At the time of this filing, WRAP was trading at $2.33 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $131.5M. The 52-week trading range was $1.04 to $3.23. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.