CLEARWATER, Fla. – A man is dead after police opened fire in fear of their safety.

Clearwater officers responded to North Martin Luther King Jr. Avenue and LaSalle Street around 6:27 p.m. Saturday.

Authorities say they received a report that a man was waving a gun in a threatening manner in the area of a crowd. When officers arrived, they searched the area for more than half an hour but could not locate the man said to be waving a gun.

While officers were still in the area, they received new information regarding the man they couldn't find earlier. 

The two officers saw a man matching the description they received. The man was identified as Bryan Bernard Wallace, 40, of Clearwater.

Officers say, they gave Wallace commands and during that time a gun fell from Wallace's waistband. Wallace began to bend over and reach for the gun ignoring the officers instructions to stop.

According to officials, the officers were in fear for their own safety and the safety of others in the area and the two officers fired their weapons.

Wallace was pronounced dead after being taken to a hospital, officials said.

The investigation is ongoing and is being investigated by the Pinellas-Pasco State Attorney's Office and the Clearwater Police Department. 

The two officers who fired their weapons are on administrative leave pending the outcome of the investigation, which is standard procedure. Both officers involved have been with the agency for a year.

This is a developing story, be sure to stay with News 6 for updates.