Were Joshua Isner’s Axon (AXON) share sales linked to stock option exercises?

The reported transactions are all coded as non-derivative open-market sales of common stock. The derivative section in the filing shows no option exercises or other derivative transactions, indicating these sales came from existing share holdings, not from newly exercised options.

Axon Enterprise (AXON) president sells 34,581 shares in March

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

Axon Enterprise president Joshua Isner reported a series of open-market stock sales. On March 10, he sold a total of 34,581 shares of Axon common stock in 18 separate transactions, at prices generally in the low-to-mid $500s per share. After these sales, he continued to hold 214,921 shares directly, so he remains a significant shareholder. The filing notes that many trades were executed in multiple lots, with reported prices representing weighted averages within specified intraday price ranges.

Insights

Axon’s president executed a sizable but partial open-market stock sale, retaining a large remaining stake.

Joshua Isner, president of Axon Enterprise, executed 18 open-market sales of common stock on March 10, 2026, totaling 34,581 shares. Individual tranches ranged from 40 to 7,390 shares, with reported weighted-average prices around $530–$549 per share based on the filing data and footnotes.

Following these transactions, Isner held 214,921 shares directly, so the sale represents roughly 14% of his pre-transaction holdings, indicating a partial liquidity move rather than a full exit. The filing shows no related option exercises or derivative transactions, and the derivative position table is empty, so this event is best viewed as a straightforward secondary sale of existing shares.

Footnotes explain that many trades were broken into multiple executions within narrow price ranges, with the disclosed prices reflecting weighted averages. There is no reference in the provided footnotes to a Rule 10b5-1 trading plan or to indirect ownership vehicles, suggesting these are direct discretionary sales by the executive, though the broader context and motivations are not addressed here.

Insider Trade Summary

Net Seller: 34,581 shares ($18,479,632)

Net Sell 18 txns

Insider Isner Joshua

Role PRESIDENT

Sold 34,581 shs ($18.48M)

Type	Security	Shares	Price	Value
Sale	Common Stock	7,390	$530.2711	$3.92M
Sale	Common Stock	2,332	$531.5848	$1.24M
Sale	Common Stock	3,557	$532.5031	$1.89M
Sale	Common Stock	5,313	$533.5081	$2.83M
Sale	Common Stock	3,732	$534.4135	$1.99M
Sale	Common Stock	2,002	$535.3851	$1.07M
Sale	Common Stock	1,748	$536.4271	$938K
Sale	Common Stock	3,305	$537.4027	$1.78M
Sale	Common Stock	1,859	$538.3937	$1.00M
Sale	Common Stock	913	$539.4475	$493K
Sale	Common Stock	456	$540.7623	$247K
Sale	Common Stock	821	$541.6827	$445K
Sale	Common Stock	464	$542.8032	$252K
Sale	Common Stock	108	$544.0135	$59K
Sale	Common Stock	360	$545.2006	$196K
Sale	Common Stock	61	$546.2335	$33K
Sale	Common Stock	120	$547.395	$66K
Sale	Common Stock	40	$549.40	$22K

Holdings After Transaction: Common Stock — 242,112 shares (Direct)

Footnotes (1)

The transaction was executed in multiple trades at prices ranging from $530.00 to $530.99. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $531.00 to $531.98. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $532.02 to $533.00. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $533.0150 to $534.0050. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $534.01 to $535.00. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $535.0050 to $535.97. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $536.00 to $536.99. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $537.00 to $537.98. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $538.00 to $538.99. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $539.03 to $540.00. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $540.0950 to $541.0575. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $541.2950 to $542.28. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $542.44 to $543.1450. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $543.62 to $544.2675. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $544.77 to $545.73. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $545.8450 to $546.3250. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $547.1350 to $547.56. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

Form 4 Insider Transactions: What Each Field Means →

03/11/2026 - 04:29 PM

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

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)
03/10/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/10/2026		S		7,390	D	$530.2711⁽¹⁾	242,112	D
Common Stock	03/10/2026		S		2,332	D	$531.5848⁽²⁾	239,780	D
Common Stock	03/10/2026		S		3,557	D	$532.5031⁽³⁾	236,223	D
Common Stock	03/10/2026		S		5,313	D	$533.5081⁽⁴⁾	230,910	D
Common Stock	03/10/2026		S		3,732	D	$534.4135⁽⁵⁾	227,178	D
Common Stock	03/10/2026		S		2,002	D	$535.3851⁽⁶⁾	225,176	D
Common Stock	03/10/2026		S		1,748	D	$536.4271⁽⁷⁾	223,428	D
Common Stock	03/10/2026		S		3,305	D	$537.4027⁽⁸⁾	220,123	D
Common Stock	03/10/2026		S		1,859	D	$538.3937⁽⁹⁾	218,264	D
Common Stock	03/10/2026		S		913	D	$539.4475⁽¹⁰⁾	217,351	D
Common Stock	03/10/2026		S		456	D	$540.7623⁽¹¹⁾	216,895	D
Common Stock	03/10/2026		S		821	D	$541.6827⁽¹²⁾	216,074	D
Common Stock	03/10/2026		S		464	D	$542.8032⁽¹³⁾	215,610	D
Common Stock	03/10/2026		S		108	D	$544.0135⁽¹⁴⁾	215,502	D
Common Stock	03/10/2026		S		360	D	$545.2006⁽¹⁵⁾	215,142	D
Common Stock	03/10/2026		S		61	D	$546.2335⁽¹⁶⁾	215,081	D
Common Stock	03/10/2026		S		120	D	$547.395⁽¹⁷⁾	214,961	D
Common Stock	03/10/2026		S		40	D	$549.4	214,921	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The transaction was executed in multiple trades at prices ranging from $530.00 to $530.99. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

2. The transaction was executed in multiple trades at prices ranging from $531.00 to $531.98. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

3. The transaction was executed in multiple trades at prices ranging from $532.02 to $533.00. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

4. The transaction was executed in multiple trades at prices ranging from $533.0150 to $534.0050. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

5. The transaction was executed in multiple trades at prices ranging from $534.01 to $535.00. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

6. The transaction was executed in multiple trades at prices ranging from $535.0050 to $535.97. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

7. The transaction was executed in multiple trades at prices ranging from $536.00 to $536.99. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

8. The transaction was executed in multiple trades at prices ranging from $537.00 to $537.98. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

9. The transaction was executed in multiple trades at prices ranging from $538.00 to $538.99. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

10. The transaction was executed in multiple trades at prices ranging from $539.03 to $540.00. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

11. The transaction was executed in multiple trades at prices ranging from $540.0950 to $541.0575. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

12. The transaction was executed in multiple trades at prices ranging from $541.2950 to $542.28. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

13. The transaction was executed in multiple trades at prices ranging from $542.44 to $543.1450. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

14. The transaction was executed in multiple trades at prices ranging from $543.62 to $544.2675. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

15. The transaction was executed in multiple trades at prices ranging from $544.77 to $545.73. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

16. The transaction was executed in multiple trades at prices ranging from $545.8450 to $546.3250. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

17. The transaction was executed in multiple trades at prices ranging from $547.1350 to $547.56. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

Remarks:

	/s/ Joshua Isner, by Isaiah Fields, Attorney-in-Fact	03/11/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

How many Axon (AXON) shares did president Joshua Isner sell?

Joshua Isner sold a total of 34,581 shares of Axon common stock. These were executed as 18 separate open-market transactions on March 10, 2026, with each tranche reported at a specific weighted-average sale price in the low-to-mid $500s per share.

At what prices did Axon (AXON) president Joshua Isner sell his shares?

The reported weighted-average sale prices ranged from about $530 to roughly $549 per share. Footnotes clarify each transaction was executed in multiple trades within narrow price bands, and the disclosed prices represent weighted averages across those individual executions.

How many Axon (AXON) shares does Joshua Isner still own after the sale?

After the reported transactions, Joshua Isner directly owned 214,921 shares of Axon common stock. This means he remains a substantial shareholder even after selling 34,581 shares in multiple open-market trades disclosed in the Form 4 filing for March 10, 2026.

Did Axon (AXON) mention a Rule 10b5-1 plan for Joshua Isner’s sales?

The provided footnotes describe weighted-average prices and execution ranges but do not reference any Rule 10b5-1 trading plan. They focus on explaining that each sale was executed in multiple trades and that detailed trade-level information is available upon request.

Is Joshua Isner’s Axon (AXON) stock sale a full or partial exit?

The sale represents only a partial reduction of Joshua Isner’s holdings. He sold 34,581 shares but still directly holds 214,921 shares afterward, suggesting a liquidity event rather than an exit from his ownership position in Axon Enterprise.