Patrick W. Smith - Sep 9, 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: Sep 9, 2021
Transactions value $: -$1,812
Form type: 4
Date filed: 9/9/2021, 09:56 PM
Previous filing: Aug 6, 2021
Next filing: Oct 18, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AXON	Common Stock	Award	$0	+25	+0.01%	$0.00	431K	Sep 9, 2021	Direct	F1, F2
transaction	AXON	Common Stock	Tax liability	-$1.81K	-10	0%	$181.15	431K	Sep 9, 2021	Direct	F3

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	+2.65M	+166.67%	$0.00	4.24M	Sep 9, 2021	Common Stock	2.65M	$28.58	Direct	F4

* 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 tranches four through eight 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 September 9, 2021. The shares are subject to a 2.5 year minimum holding period from the goal attainment date, excluding shares that are withheld to cover taxes.
F2	The number of shares reported as beneficially owned by the reporting person following the transactions reported on this form has been increased by 23,000 shares following the discovery of an administrative error in two Form 4s filed by the reporting person. One of these forms was filed in 2009 and the other was filed in 2010. As a result of this administrative error, the number of shares reported as beneficially owned by the reporting person has been understated by 23,000 shares since 2010. The transactions reported in the referenced forms from 2009 and 2010 were correctly reported.
F3	Securities disposed represent securities withheld to settle the reporting person's tax liability incident to the vesting of tranches four through eight of the XSPP (eXponential Stock Performance Plan). The remainder of the shares are subject to a 2.5 year minimum holding period.
F4	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 tranches four through eight 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 September 9, 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.