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.