Patrick W. Smith, chief executive officer of Axon Enterprise, has filed 186 Form 4 transactions, all in the single ticker AXON. The pattern is one-sided: his total sell value is $83,013,398.10, and his total buy value is zero. He has not acquired shares through open-market purchases, and the recent activity shows 24 sales with no buys.
The most recent cluster of sales occurred on September 8, 2026, with 11 separate open-market sale transactions. The dollar values range from $35,641.29 to $901,991.19, with the largest individual sale at $901,991.19. The combined value for that day is roughly $5.1 million. A prior batch on August 7, 2026, included 13 sales, with values from $29,727 to $518,184.62, totaling about $2.2 million. Between these two dates, on August 16, 2026, there was a grant or award (code A) with a value of zero, which is compensation and not a purchase.
The sales are frequent and spread across multiple transactions per day, which is typical of a pre-arranged trading plan, though the filings do not state that. The absence of any buy-side activity across 186 filings, combined with the consistent selling in large dollar amounts, shows a clear disposition bias. Smith has not added to his position in the recent period, and the last two months of filings are entirely sales, aside from the zero-value grant. The total sell value of over $83 million across his filing history is substantial relative to a typical executive's disclosed activity, and the recent direction is unchanged: he continues to sell.
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