[Form 4] AXON ENTERPRISE, INC. Insider Trading Activity

Rhea-AI Filing Summary

Axon Enterprise, Inc. reported an equity award update for its President, Joshua Isner. On 11/13/2025, he acquired 67,910 shares of common stock at a price of $0, increasing his directly held beneficial ownership to 306,289 shares. These shares relate to performance-based restricted stock units (XSUs) originally granted on December 22, 2023 under the Axon Enterprise, Inc. 2024 eXponential Stock Plan.

The reported tranche of XSUs had its performance conditions certified as achieved by the company’s Compensation Committee on 11/13/2025 and is scheduled to vest on June 1, 2026, subject to Mr. Isner’s continued employment through that date. After vesting, the delivered shares will be subject to a minimum holding period until the earlier of December 31, 2030 or the vesting date of a subsequent XSU tranche, excluding any shares withheld or sold to cover taxes.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Isner Joshua

(Last) (First) (Middle)

17800 NORTH 85TH STREET

(Street)

SCOTTSDALE AZ 85255

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AXON ENTERPRISE, INC. [ AXON ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	PRESIDENT

3. Date of Earliest Transaction (Month/Day/Year)
11/13/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/13/2025		A(1)		67,910	A	$0	306,289	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The transaction consists of performance-based restricted stock units (collectively, "XSUs") granted on December 22, 2023 pursuant to the Axon Enterprise, Inc. 2024 eXponential Stock Plan, for which the performance conditions for the third tranche of XSUs (the "Tranche") were certified by the issuer's Compensation Committee of the Board of Directors on November 13, 2025 as having been met. The Tranche will vest on June 1, 2026, subject to continued employment through such date. Following the vesting, the shares deliverable for the Tranche are subject to a minimum holding period until the earlier of (i) December 31, 2030 and (ii) the date on which a subsequent tranche of XSUs vests, excluding shares withheld or sold to cover applicable taxes.

Remarks:

	/s/ Joshua Isner, by Isaiah Fields, Attorney-in-Fact	11/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did AXON President Joshua Isner report on this Form 4?

Joshua Isner reported acquiring 67,910 shares of Axon common stock on 11/13/2025, related to a previously granted performance-based restricted stock unit (XSU) award.

How many AXON shares does Joshua Isner beneficially own after this transaction?

Following the reported transaction, Joshua Isner beneficially owns 306,289 shares of Axon Enterprise, Inc. common stock in direct ownership.

What is the origin of the performance-based XSUs reported by AXON in this filing?

The XSUs were granted on December 22, 2023 under the Axon Enterprise, Inc. 2024 eXponential Stock Plan as performance-based restricted stock units.

When will the reported XSU tranche for AXON’s President vest?

The third tranche of XSUs reported in this filing is scheduled to vest on June 1, 2026, provided that Joshua Isner remains employed through that date.

Is there a holding requirement on the AXON shares from this XSU tranche?

Yes. After vesting, the shares from this tranche are subject to a minimum holding period until the earlier of December 31, 2030 or the vesting date of a subsequent XSU tranche, excluding shares used to cover taxes.

What performance milestone triggered the AXON XSU tranche in this Form 4?

The third tranche of XSUs vested in response to performance conditions certified as met by Axon’s Compensation Committee on 11/13/2025.