Company: DMRC
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001437749-25-009135
Chunk: 48

Company: Digimarc CORP
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 48
---
 defer granting additional equity awards pending the successful completion of the improvement plan or cancel them upon termination of employment. We may also suspend continued vesting under certain circumstances.
In 2024, the LTI value tied to PRSUs was maintained at 50% for executives and that LTI proportional value was sustained in 2025. Non-CEO executives continue to receive 50% of their long-term equity incentive in the form of time-based restricted stock units (RSUs), which vest ratably over three years (except for the CEO who continues to receive 100% of his LTI value in PRSUs tied to the same metrics as all executives).

2024 was the first year in which PRSUs vested under Digimarc’s Long Term Incentive (“LTI”) Plan. For the LTI period, 2022-2024, there were two equally weighted metrics: (1) Subscription Revenue growth; and (2) rTSR rank versus Peers in S&P Small Cap Software and Services Index.

PRSU Award Measures and Goals – 2022 - 2024

|                                  |     |      |    |   |     | Threshold |    |   |     | Target    |     |   |     | Maximum   |     |   |     | Actual |      |   |
| Metrics                          |     | Wtg. |    |   |     |           | 50 | % |     |           | 100 | % |     |           | 200 | % |     |        |      |   |
| 3-Year Subscription Revenue CAGR |     |      | 50 | % |     |           | 26 | % |     |           |  40 | % |     |           |  53 | % |     |        | 32.6 | % |
| rTSR vs. Industry Index          |     |      | 50 | % |     | 25th %ile |    |   |     | 50th %ile |     |   |     | 75th %ile |     |   |     |        | 51.7 | % |

Company’s actual performance resulted in the 2022 LTI PRSUs vesting at 90% of target.

| Executive            |     | 2023 Target LTI Value (2) |           |     | 2024 Target LTI Value (2) |           |
|:---------------------|:----|:--------------------------