[Form 4] Axon Enterprise, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Axon Enterprise, Inc. (AXON) – Form 4 insider transaction summary: President Joshua Isner reported two transactions involving AXON common stock. On 16-Jun-2025, 680 shares were disposed under transaction code F (shares withheld to cover income-tax obligations triggered by restricted stock unit (RSU) vesting) at a price of $780.63 per share. On 17-Jun-2025, Isner sold 905 shares in the open market at $776.39 per share under a pre-arranged Rule 10b5-1 trading plan adopted on 21-Aug-2024.

Following these actions, Isner’s direct beneficial ownership declined from 270,320 shares to 268,735 shares, a reduction of roughly 0.6 % of his total position and an immaterial fraction of Axon’s ~74 million shares outstanding. No derivative securities were involved and no new options were granted or exercised. The filing indicates routine tax withholding and modest portfolio diversification rather than a strategic divestiture. Because the sales were both limited in size and executed under a 10b5-1 plan, the market impact is expected to be neutral to modestly negative.

Positive

• Use of Rule 10b5-1 plan demonstrates proactive compliance and reduces perception of opportunistic insider trading.
• Continued sizeable ownership stake (268,735 shares) maintains alignment between the President and shareholders.

Negative

• Net insider selling of 1,585 shares signals slight reduction in management’s exposure, though amount is immaterial.
• Share withholding and sale combined represent a disposal at prices near 52-week highs, which could be perceived cautiously by some investors.

Insights

Financial Analyst

TL;DR: Routine insider sale of 1,585 shares (0.6% of holding) under 10b5-1; negligible impact on AXON valuation.

The reported Form 4 shows two small transactions: 680 shares withheld for taxes and 905 shares sold. At current prices, the total cash value is roughly US$1.2 million—insignificant relative to Axon’s US$17 billion market cap. The remaining 268,735 shares continue to align management’s interests with shareholders. Because the sale was disclosed as part of a pre-set 10b5-1 plan, it does not signal opportunistic selling. Investors typically view such filings as informational rather than actionable. I classify the overall impact as neutral.

Corporate Governance Specialist

TL;DR: Insider adherence to 10b5-1 protocol reduces governance risk; share sale magnitude immaterial.

From a governance perspective, the filing reinforces good practices: 1) disclosure within two business days, and 2) execution under an established 10b5-1 plan, limiting allegations of trading on material non-public information. The F-code tax withholding is a mechanical transaction tied to RSU vesting. Such transparency supports Axon’s governance profile. Nevertheless, any insider selling can raise minor optics concerns; still, the fractional reduction does not undermine management commitment. Overall impact: neutral-positive on governance, negligible on valuation.

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).

X

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)
06/16/2025

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	06/16/2025		F(1)		680	D	$780.63	269,640	D
Common Stock	06/17/2025		S(2)		905	D	$776.39	268,735	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. Securities disposed represent securities withheld to settle the reporting person's tax liability resulting from the vesting of restricted stock units.

2. This sale, effected pursuant to a Rule 10b5-1 trading plan adopted on August 21, 2024, consisted of shares issued upon the settlement of vested restricted stock units.

Remarks:

	/s/ Joshua Isner, by Isaiah Fields, Attorney-in-Fact	06/18/2025
	** 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

How many AXON shares did President Joshua Isner sell in June 2025?

He disposed of 1,585 shares in total: 680 shares for tax withholding and 905 shares sold on 17-Jun-2025.

At what prices were the AXON shares sold?

The tax-withheld shares were valued at $780.63 each; the open-market sale was executed at $776.39 per share.

Does the filing involve a 10b5-1 trading plan?

Yes. The 905-share sale was conducted under a Rule 10b5-1 plan adopted 21-Aug-2024.

What is Joshua Isner’s remaining AXON share ownership after the transactions?

He now directly owns 268,735 shares of Axon Enterprise common stock.

Are derivative securities or option exercises reported in this Form 4?

No. No derivative securities were acquired, disposed, or outstanding changes reported.

Is this insider selling considered material to Axon shareholders?

Given the 0.6 % reduction in Isner’s stake and Axon’s large float, the impact is generally viewed as immaterial.