Patrick W. Smith - May 17, 2021 Form 4 Insider Report for AXON ENTERPRISE, INC. (AXON)

Role: CHIEF EXECUTIVE OFFICER, Director
Signature: /s/ Patrick W. Smith, by Jawad A. Ahsan, Attorney-in-Fact
Stock symbol: AXON
Transactions as of: May 17, 2021
Transactions value $: $0
Form type: 4
Date filed: 5/18/2021, 01:15 PM
Next filing: Aug 6, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AXON	Common Stock	Award	$0	+10	+0%	$0.00	439K	May 17, 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AXON	Employee Stock Option	Award	$0	+1.06M	+200%	$0.00	1.59M	May 17, 2021	Common Stock	1.06M	$28.58	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The transaction consists of performance-based restricted stock units granted on January 2, 2019, for the achievement of the second and third tranches of the XSPP (eXponential Stock Performance Program) which was approved by shareholders and became effective on February 12, 2019, for which the performance conditions were determined to have been certified by the Compensation Committee on the transaction date. The units for this tranche vested on May 17, 2021. The shares are subject to a 2.5 year minimum holding period from the goal attainment date.
F2	The transaction consists of performance-based restricted stock options granted on February 26, 2018 (which was approved by shareholders and became effective on May 24, 2018) for the achievement of the second and third tranches of the CEO Performance Award for which the performance conditions were determined to have been certified by the Compensation Committee on the transaction date. The options for these tranches vested on May 17, 2021. Once the options are exercised, the shares are subject to a 2.5 year minimum holding period, excluding shares sold or made available to sell to cover taxes.

Content

The transaction consists of performance-based restricted stock units granted on January 2, 2019, for the achievement of the second and third tranches of the XSPP (eXponential Stock Performance Program) which was approved by shareholders and became effective on February 12, 2019, for which the performance conditions were determined to have been certified by the Compensation Committee on the transaction date. The units for this tranche vested on May 17, 2021. The shares are subject to a 2.5 year minimum holding period from the goal attainment date.

The transaction consists of performance-based restricted stock options granted on February 26, 2018 (which was approved by shareholders and became effective on May 24, 2018) for the achievement of the second and third tranches of the CEO Performance Award for which the performance conditions were determined to have been certified by the Compensation Committee on the transaction date. The options for these tranches vested on May 17, 2021. Once the options are exercised, the shares are subject to a 2.5 year minimum holding period, excluding shares sold or made available to sell to cover taxes.