On December 12, 2023, the Board of Directors of Wrap Technologies, Inc. (the ?Company?) appointed Scot Cohen (53), the Company?s current Executive Chairman of the Board, to the position of Principal Executive Officer, effective immediately. Mr. Cohen cofounded the Company in March 2016, and has previously served as a non-independent Director of the Company from June 2021 until October 2023 and Executive Chairman of the Company from July 2017 until June 2021 and then again beginning in October 2023. Mr. Cohen has over 20 years of experience in institutional asset management, wealth management, and capital markets.

He currently manages several operating partnerships that actively invest in the energy sector in addition to maintaining an active investment portfolio in various public companies, early-stage private companies, hedge funds and alternative assets including real estate. Mr. Cohen is the Founder and Managing Partner of V3 Capital Partners, and Co-Manager of Red Fortune Fund. Mr. Cohen also is the Founder of Petro River Oil, LLC and Chairman of Petro River Oil Corp., and Petro Spring LLC.

Prior to creating V3 Capital Partners, Mr. Cohen was the Founder and Managing Partner at Iroquois Capital Opportunity Fund, and a Co-Founder of Iroquois Capital. Mr. Cohen currently serves on the board of directors of Charlie?s Holding, Inc., and has served as Executive Chair of the board of directors of Petro River Oil Corp. since 2012.

Mr. Cohen earned his Bachelor of Science degree from Ohio University in 1991. As of the time of Mr. Cohen?s appointment as the Company?s Principal Executive Officer, Kevin Mullins ceased to serve as the Company?s Principal Executive Officer. Mr. Mullins will continue to serve as the Company?s President and Chief Executive Officer and as a Director.

On December 12, 2023, Kevin Sherman tendered his resignation from his positions as a member of the Board and any committees thereof, effective as of December 31, 2023. Mr. Sherman?s decision to resign was not the result of any dispute or disagreement with the Company on any matter relating to the Company?s operations, policies or practices.