Company: MVIS
Filing Date: 2025-09-04
Form Type: 8-K
Source: 0001493152-25-012611
Chunk: 1

Company: MICROVISION, INC.
Filing Date: 2025-09-04
Form: 8-K
Item: Item 5.02
Chunk 1
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 Company’s Form
8-K filed June 10, 2024. For additional details on the 2025 Executive Bonus Plan, please refer to the disclosure in the Company’s
Form 8-K filed June 6, 2025.

Appointment
of Executive Vice Chair

On
September 2, 2025, the Board appointed Simon Biddiscombe, who currently serves as an independent director on the Board, to be the Company’s
Executive Vice Chair as of the Effective Date to serve as a resource to Mr. DeVos, at the request of Mr. DeVos, for a temporary period
of no more than twelve months.

In
connection with his role as Executive Vice Chair, Mr. Biddiscombe will receive the following compensation: (i) a cash salary of $265,000
per annum, (ii) a sign-on equity award in the form of 241,000 RSUs, scheduled to vest in full on October 1, 2026, subject to Mr. Biddiscombe’s
continuing provision of services to the Company at such date (whether as Executive Vice Chair, as an independent director, or otherwise),
and (iii) full eligibility for Company benefits as a 50%-time or greater employee.

During
the period that he serves as Executive Vice Chair, Mr. Biddiscombe will not be deemed an “independent director” pursuant
to Nasdaq rules. Accordingly, for so long as he is serving as Executive Vice Chair, Mr. Biddiscombe will not serve as Chair of the Audit
Committee and will not be a member of the Audit Committee or the Compensation Committee. The Board has appointed Robert Carlile, the
Company’s Board Chair and a designated Audit Committee Financial Expert, to be Audit Committee Chair as of the Effective Date.