8-KOther Events

AXON ENTERPRISE, INC. 8-K Report, Corporate Update (Aug 17, 2011)

Filed August 17, 2011For Securities:AXON

Summary

This Form 8-K filing by TASER International, Inc. (now Axon Enterprise, Inc.) on August 17, 2011, primarily announces the adoption of a stock trading plan to facilitate a previously authorized $20.0 million share repurchase program. The program, approved by the Board of Directors on July 28, 2011, aims to repurchase outstanding common stock in compliance with SEC Rule 10b5-1 and Rule 10b-18. As of the filing date, approximately $16.7 million remained available under this open-ended repurchase authorization. The trading plan is set to commence on August 22, 2011, with repurchases executed by a designated broker under specific market constraints. This action signals management's confidence in the company's valuation and its commitment to returning capital to shareholders.

Key Highlights

  • 1TASER International adopted a stock trading plan on August 16, 2011, to implement a previously announced $20.0 million share repurchase program.
  • 2The share repurchase program was authorized by the Board of Directors on July 28, 2011.
  • 3The plan is established in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
  • 4Share repurchases will be conducted in the open market in compliance with Rule 10b-18.
  • 5As of August 17, 2011, approximately $16.7 million was still available for repurchases under the program.
  • 6The repurchase program does not have an expiration date and may be suspended or discontinued at any time.
  • 7The trading plan is scheduled to begin on August 22, 2011, and will continue until the full $20.0 million is utilized, subject to market conditions.

Frequently Asked Questions

The primary purpose of this filing is to formally announce the adoption of a stock trading plan by TASER International to execute its previously authorized $20.0 million share repurchase program. This plan ensures compliance with SEC regulations for stock buybacks.

As of August 17, 2011, the filing date, approximately $3.3 million ($20.0 million authorized - $16.7 million remaining) had been repurchased or was allocated for repurchase under the program. The formal trading plan begins on August 22, 2011, to execute the remaining portion.

The stock trading plan is set to commence on August 22, 2011. Repurchases will be made by a designated broker in the open market under specific price, market, volume, and timing constraints outlined in the plan, ensuring compliance with Rules 10b5-1 and 10b-18.

No, the stock repurchase program does not have a stated expiration date. The company can suspend or discontinue the program at any time, and the trading plan will continue until the $20.0 million authorization is fully utilized, subject to market conditions and the company's discretion.