ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
On May 4, 2022, Axon Enterprise, Inc. (the "Company") announced that Jawad A.
Ahsan would be resigning as Chief Financial Officer ("CFO"), effective
immediately, to pursue other opportunities. The Company's board of directors has
initiated a search to identify a permanent CFO and Mr. Ahsan will be available
to the Company to support a smooth transition.
As of the same date, the Company appointed Jim Zito as interim CFO, effective
immediately. Mr. Zito, age 41, has been with the Company since 2017 and
currently serves as the Company's Senior Vice President of Accounting and
corporate controller. As Senior Vice President of Accounting, Mr. Zito leads
the Company's global accounting and controllership organization. Prior to
joining the Company in 2017, Mr. Zito served as the Global Controller for
General Electric (GE) Healthcare Digital and Healthcare Partners, the software
and consulting businesses within GE Healthcare. There, he led a global team
responsible for controllership and commercial finance operations. Mr. Zito
joined GE in 2010 as the Controller for GE Healthcare's Clinical Business
Solutions product line and completed GE's Experienced Financial Leadership
Program in 2015. His prior experience includes progressive leadership positions
in the audit practice at PricewaterhouseCoopers LLP.
Pursuant to Mr. Zito's current compensation arrangements with the Company, he
currently receives an annual base salary of $250,000 and is eligible for annual
target incentive compensation equal to 40% of his annual base salary.
Mr. Zito received the following compensation and benefits in his prior positions
at the Company since the beginning of 2021: (a) aggregate base salary payments
of $241,090 and $83,333 in respect of 2021 and 2022 (through the date hereof),
respectively; (b) an annual bonus award under the Company's annual cash
incentive plan ("AIP") in respect of 2020, with a payout in shares of the
Company's common stock with a fair market value of $167,978 in early 2021, (c)
an annual bonus award under the AIP in respect of 2021 of $88,471 in early 2022
and (d) equity awards in 2021 with aggregate fair market values of $1,051,224.
Other than such compensation arrangements, Mr. Zito has no interest in any
transactions that would require disclosure pursuant to Item 404(a) of Regulation
S-K.
ITEM 7.01 REGULATION FD DISCLOSURE
A copy of the press release announcing the departure of Mr. Ahsan, the
appointment of Mr. Zito as interim CFO, and that the Company raised its 2022
revenue outlook and affirmed its long-term revenue growth target is being
furnished as Exhibit 99.1 to this Current Report on Form 8-K.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
Exhibit
No. Description
99.1 Press release dated May 4, 2022
101 Cover Page Interactive Data File - the cover page XBRL tags are embedded
within the Inline XBRL document
104 The cover page from this Current Report on Form 8-K, formatted as Inline
XBRL
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