8-KOther EventsExhibits & Filings

AXON ENTERPRISE, INC. 8-K Report, Corporate Update (Dec 19, 2018)

Filed December 19, 2018For Securities:AXON

Summary

Axon Enterprise, Inc. (AXON) announced on December 19, 2018, the introduction of its 2019 Stock Incentive Plan. This new plan is designed to grant employees awards in the form of eXponential stock units, a performance-based restricted stock unit award similar to the one previously granted to CEO Patrick W. Smith and approved by shareholders. The adoption of this plan requires further approval from Axon's shareholders at a special meeting expected in February 2019. Investors should note that this announcement is primarily about a new employee incentive program. While it aims to align employee interests with shareholders through performance-based equity, the material financial impact and specific details of the awards will be disclosed in a forthcoming Proxy Statement. Shareholders are strongly encouraged to review this Proxy Statement and related materials when they become available, as it will contain crucial information regarding the plan and the upcoming shareholder vote.

Key Highlights

  • 1Announcement of the Axon Enterprise, Inc. 2019 Stock Incentive Plan.
  • 2The plan utilizes 'eXponential stock units,' a performance-based equity award model.
  • 3This new plan is modeled after a previously shareholder-approved award granted to CEO Patrick W. Smith.
  • 4Shareholder approval is required for the plan's adoption at a special meeting scheduled for February 2019.
  • 5Axon will file a definitive proxy statement with the SEC detailing the plan and soliciting votes.
  • 6Shareholders are urged to read the forthcoming proxy statement for important information.
  • 7Key executives and directors are identified as potential participants in proxy solicitation.

Frequently Asked Questions

The primary purpose of the 2019 Stock Incentive Plan is to incentivize and retain Axon's employees by granting them awards of eXponential stock units, which are performance-based restricted stock units. This is intended to align employee interests with those of the company's shareholders.

The plan is subject to approval by Axon's shareholders at a special meeting, which is expected to be held in February 2019. The plan will be implemented upon receiving shareholder approval.

eXponential stock units are a special type of performance-based restricted stock unit award. They are modeled after the performance option award previously granted to Axon's CEO, Patrick W. Smith, and approved by shareholders.

Axon plans to file a definitive proxy statement with the SEC that will contain important information about the plan and the special meeting. This document, along with other related materials, will be available on the SEC's website (www.sec.gov) and Axon's Investor Relations website (investor.axon.com). Shareholders can also contact Axon's Investor Relations department for copies.