knob wad Share definition Flag Ejaculate. Sperm that has exited the penis. Guy 1: Dude, my dealer's screening my calls and I know he's holding.Guy 2: What a lazy knob wad. knob wad by fillymandee July 27, 2012 0 0 Get merch Get the knob wad mug. Buy Now — $32.95 See more merch