SCOTTSDALE, Ariz., Dec. 14, 2007 (PRIME NEWSWIRE) -- TASER International, Inc. (Nasdaq:TASR), a market leader in advanced electronic control devices, today announced that it has hired Peter T. Holran effective December 2007 to serve as its Vice President of Public Relations and Government Affairs.
Before joining TASER International, Mr. Holran was Vice President for Public Affairs at Dittus Communications, where he worked on public affairs and crisis management for TASER International and other prominent clients. Prior to his work at Dittus, Mr. Holran spent nearly a decade at Wexler and Walker Public Policy Associates, a Washington D.C. based lobbying firm where he led the team that managed both Federal and state lobbying efforts for TASER International.
"Mr. Holran brings a wealth of knowledge and experience to the Company, and is an important addition to the management team that will lead TASER International into the future," commented Thomas Smith, Chairman of TASER International's Board of Directors. "We have worked closely with Mr. Holran as an external consultant for almost six years and believe that adding his full-time dedication, experience and expertise to our team will expand the capabilities of the organization."
Thomas Smith currently serves both as Chairman of TASER International's Board of Directors and as the executive officer who oversees public relations and government affairs. Over the next 6 months, Mr. Smith will transition these executive duties fully to Mr. Holran. Mr. Smith will assume a more traditional role as Chairman of the Board of Directors on May 30, 2008. Mr. Smith will continue to serve on the Strategic Leadership Team and, together with Co-Founder and CEO Rick Smith, will continue his role as public spokesperson for the Company indefinitely.
"This is a very exciting time, both for the Company and for me personally. This transition will build important capabilities for the company and will allow me to focus more on issues related to long term strategy and corporate governance as Chairman of the Board. It will also allow me to focus more time on family and personal matters going forward," concluded Mr. Smith.
In conjunction with this career transition, Mr. Smith has adopted a stock trading plan in accordance with Rule 10b5-1. The plan is a component of his overall tax and financial planning strategy that is designed to provide enhanced diversification and liquidity as Mr. Smith transitions from a day-to-day operational role to a more traditional Chairman role for the Company.
Rule 10b5-1 enables corporate officers and directors to establish stock trading plans for the orderly sale of predetermined amounts of securities. Such plans may be initiated only when the officers and directors are not in possession of material and non-public information. The rule allows individuals adopting such plans to sell shares over a specified amount of time at specific prices in the future, even if subsequent material and non-public information becomes available to them.
Under the provisions of Mr. Smith's 10b5-1 plan, up to 830,000 shares may be sold over the next two years, representing approximately 50% of the 1,654,218 shares he controls (665,088 shares owned and 989,130 remaining vested stock options). Any transactions executed under the provisions of the plan, which is effective for approximately 24 months starting in February of 2008, will be reported on Form 4 filings with the Securities and Exchange Commission. There are no assurances that any shares will be sold during the duration of the plan.
About TASER International, Inc.
TASER International's products protect life. TASER provides advanced Electronic Control Devices (ECDs) for use in the law enforcement, medical, military, corrections, professional security, and personal protection markets. TASER devices use proprietary technology to incapacitate dangerous, combative, or high-risk subjects who pose a risk to law enforcement officers, innocent citizens, or themselves in a manner that is generally recognized as a safer alternative to other uses of force. For more information, please call TASER International at (800) 978-2737 or visit our website at www.TASER.com.
The TASER International logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2931
Note to Investors
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements, without limitation, regarding our expectations, beliefs, intentions or strategies regarding the future. We intend that such forward-looking statements be subject to the safe-harbor provided by the Private Securities Litigation Reform Act of 1995. The forward-looking information is based upon current information and expectations regarding TASER International. These estimates and statements speak only as of the date on which they are made, are not guarantees of future performance, and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecasted in such forward-looking statements.
TASER International assumes no obligation to update the information contained in this press release. These statements are qualified by important factors that could cause our actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to: (1) market acceptance of our products; (2) our ability to establish and expand direct and indirect distribution channels; (3) our ability to attract and retain the endorsement of key opinion-leaders in the law enforcement community; (4) the level of product technology and price competition for our products; (5) the degree and rate of growth of the markets in which we compete and the accompanying demand for our products; (6) risks associated with rapid technological change and new product introductions; (7) competition; (8) litigation including lawsuits resulting from alleged product related injuries and death; (9) media publicity concerning allegations of deaths and injuries occurring after use of the TASER device and the negative effect this publicity could have on our sales; (10) TASER device tests and reports; (11) product quality; (12) implementation of manufacturing automation; (13) potential fluctuations in our quarterly operating results; (14) financial and budgetary constraints of prospects and customers; (15) order delays; (16) dependence upon sole and limited source suppliers; (17) negative reports concerning the TASER device; (18) fluctuations in component pricing; (19) government regulations and inquiries; (20) dependence upon key employees and our ability to retain employees; (21) execution and implementation risks of new technology; (22) ramping manufacturing production to meet demand; (23) medical and safety studies; (24) field test results; and (25) other factors detailed in our filings with the Securities and Exchange Commission, including, without limitation, those factors detailed in the Company's Annual Report on Form 10-K and its Form 10-Qs.
The statements made herein are independent statements of TASER International. The inclusion of any third parties does not represent an endorsement of any TASER International products or services by any such third parties.