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  "documentTitle": "Axon Enterprise (formerly TASER) (AAXN)",
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  "presentationDate": "2019-06-19 00:00:00",
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  "notes": "The slide uses a combination of a bar chart and a data table to illustrate the trend of declining insider ownership and significant insider selling.",
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      "text": "This breakage of alignment between shareholder and insiders is concerning.",
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      "text": "Insider ownership percentage from 2010 to 2019",
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      "text": "insider ownership: 2.3%",
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      "text": "Based on Axon's annual proxy statement, we find that ownership by management and directors (insiders) hit a record low in early 2019. This breakage of alignment between shareholder and insiders is concerning. YTD 2019 stock sales have already exceeded 2018's stock sales, especially with a well-timed sale by CEO Smith of 50,000 shares around $70.(1)",
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      "text": "Source: Axon proxy statements",
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      "text": "Source: Axon financial statements and Bloomberg insider buys/sells. 1. Smith June 12th stock sales, Form 4",
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      "text": "Table showing Insider Sales, Company Repurchase, Shares Issued, and Net Issued (Repurchased) from 2010 to 2018",
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      "text": "Insider Ownership At Record Low",
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