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

Rhea-AI Filing Summary

Jennifer H. Mak, Chief Accounting Officer of Axon Enterprise, Inc. (AXON), reported two transactions related to restricted stock units in early September 2025. On 09/02/2025 she had 85 shares withheld at a per-share price of $747.29 to satisfy tax withholding upon RSU vesting, leaving 15,155 shares beneficially owned directly. On 09/03/2025 she sold 75 shares at $723.50 under a Rule 10b5-1 trading plan adopted March 14, 2025; the filing states those sold shares were issued upon RSU settlement, resulting in 15,080 shares beneficially owned directly.

The Form 4 is signed on behalf of Ms. Mak by an attorney-in-fact and includes an address in Scottsdale, AZ. The filing explicitly notes the 10b5-1 plan box was checked, and the withholdings were to cover tax obligations from vested RSUs. No other transactions, option exercises, or derivative holdings are disclosed in this Form 4.

Positive

• Disclosure of 10b5-1 plan (adopted March 14, 2025) indicates pre-arranged trading and compliance with insider trading protocols
• Clear reason provided that 85 shares were withheld to cover tax liability from RSU vesting
• Form signed via attorney-in-fact, consistent with authorized reporting procedures

Negative

• Insider sales reported: total of 160 shares disposed in two transactions (85 withheld, 75 sold)
• No information in this filing about other potential holdings or derivative positions beyond those disclosed

Insights

Financial Analyst

TL;DR: Routine insider tax-withholding and a small Rule 10b5-1 sale; immaterial to company valuation.

The transactions reported are limited to tax-withholding of 85 shares on RSU vesting and a planned sale of 75 shares under a 10b5-1 plan. Both actions are common for executives realizing compensation and managing tax liabilities. The filing shows no additional stock sales, option exercises, or derivative activity. Given the small share amounts relative to typical institutional volumes and absence of new disclosures about company operations or financials, these items are not likely to affect investor valuation or signal material change.

Corporate Governance Expert

TL;DR: Disclosure follows required procedures; use of 10b5-1 plan and attorney-in-fact signature indicate compliance.

The Form 4 documents compliance with Section 16 reporting: the 10b5-1 plan is disclosed, and an attorney-in-fact signed the form on 09/03/2025. The filing clearly states the reason for withholding (tax settlement of RSUs) and that the sale was effected under the trading plan adopted March 14, 2025. This transparency supports governance best practices for insider transactions. There are no governance red flags such as undisclosed related-party transfers or large unexpected disposals.

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^*

Mak Jennifer H

(Last) (First) (Middle)

17800 N 85TH ST

(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)
	Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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	09/02/2025		F(1)		85	D	$747.29	15,155	D
Common Stock	09/03/2025		S(2)		75	D	$723.5	15,080	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 March 14, 2025, consisted of shares issued upon the settlement of vested restricted stock units.

Remarks:

	/s/ Jennifer H. Mak by Isaiah Fields, Attorney-in-Fact	09/03/2025
	** 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 transactions did AXON insider Jennifer Mak report on the Form 4?

The filing reports 85 shares withheld on 09/02/2025 to satisfy tax withholding from RSU vesting and a sale of 75 shares on 09/03/2025 under a Rule 10b5-1 plan.

How many AXON shares does Jennifer Mak beneficially own after these transactions?

After the 09/03/2025 sale the filing shows Ms. Mak beneficially owns 15,080 shares directly.

Was the 09/03/2025 sale part of a 10b5-1 trading plan for AXON?

Yes. The sale on 09/03/2025 was effected pursuant to a Rule 10b5-1 trading plan adopted on March 14, 2025.

Why were 85 shares disposed on 09/02/2025 according to the Form 4?

The filing states those 85 shares were withheld to settle tax liability resulting from the vesting of restricted stock units (RSUs).

Who signed the Form 4 for Jennifer Mak and when?

The Form 4 was signed on behalf of Jennifer H. Mak by an attorney-in-fact, Isaiah Fields, on 09/03/2025.