8-KLeadership ChangesExhibits & Filings

AXON ENTERPRISE, INC. 8-K Report, Executive Changes (Jul 12, 2013)

Filed July 12, 2013For Securities:AXON

Summary

TASER International, Inc. (now Axon Enterprise, Inc.) filed an 8-K on July 12, 2013, to announce the adoption of the TASER International, Inc. Deferred Compensation Plan (the "Plan"), effective July 1, 2013. This plan allows eligible employees to defer a significant portion of their compensation, including base salary, other compensation, and vested Restricted Stock Unit (RSU) awards. The Plan offers potential for company matching and discretionary contributions, subject to specific vesting schedules. Employee deferrals are immediately 100% vested. The company explicitly states that it does not guarantee investment returns, and all gains or losses are tied to participant-selected investments. Importantly, all assets under the plan are subject to the claims of the company's general creditors, meaning participants have no direct claim on plan assets.

Key Highlights

  • 1Adoption of a Deferred Compensation Plan effective July 1, 2013, by TASER International, Inc. (now Axon Enterprise, Inc.).
  • 2Eligible employees can defer up to 80% of base salary and up to 100% of other compensation types.
  • 3Plan allows deferral of vested Restricted Stock Unit (RSU) awards.
  • 4Potential for company matching and discretionary employer contributions with defined vesting schedules.
  • 5Employee deferrals are 100% vested upon contribution.
  • 6Participant investment choices determine gains or losses; company does not guarantee returns.
  • 7Plan assets are subject to the claims of the company's general creditors.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce the adoption of the TASER International, Inc. Deferred Compensation Plan, effective July 1, 2013. This plan provides a mechanism for eligible employees to defer compensation.

The filing states that 'eligible participants' can defer compensation. While specific eligibility criteria are not detailed in the 8-K summary, it typically applies to key executives or highly compensated employees as per plan documents.

No, the company explicitly states that it does not guarantee a rate of return on deferred balances. Participants select their investments, and gains or losses are based solely on the performance of those selected investments.

The plan assets are not segregated and are subject to the claims of the company's general creditors. Participants have no direct rights or claims to these assets, which remain part of the company's overall financial structure.