Company: DMRC
Filing Date: 2025-04-17
Form Type: PX14A6G
Source: 0001193125-25-084288
Chunk: 7

Company: Digimarc CORP
Filing Date: 2025-04-17
Form: PX14A6G
Chunk 7
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/ – Ocho Investments LLC (“Ocho”), which owns 5.2% of the stock of Digimarc Corporation (Nasdaq:
DMRC) (“Digimarc” or the “Company”), today published a letter to the shareholders of Digimarc.

The letter informs
shareholders that, at Digimarc’s Annual Meeting scheduled for May 7, 2025, Ocho will vote “WITHHOLD” on CEO Riley McCormack and Chair Kathleen Kool. Also, Ocho will “VOTE NO” on the Company’s say-on-pay proposal. Ocho strongly urges all Digimarc shareholders to vote in the same manner.

The letter outlines why Ocho believes these votes are in the best interests of the shareholders of Digimarc, including:

| • |     | WITHHOLD on Mr. McCormack because his four-year tenure has been marked by a 60% decline in the stock price,                                                                                                                         
 no growth in revenue per share and declining net ARR, continued operating losses and the need to curtail investments in employees and the business, and lost credibility with investors due to a lack of transparent communication. |

| • |     | VOTE NO on say-on-pay because                                                                                                                                                                                                                 
 Digimarc’s incentive plan misaligns the interests of management versus shareholders. The change of a key compensation metric, from total ARR to “Gross New ARR Growth”, occurred just months before the expiration (and eventual loss) of     
 the Company’s largest commercial contract. This curious revision meant, even in the event Digimarc had lost all of its existing customers, there would be no effect on the largest weighting (65%) of management’s cash bonuses. As a result, 
 Digimarc’s executives were paid nearly four times as much on their Annual Incentive Plan for 2024 (96% payout) than they would have under the prior (more sensible) plan (25% payout).                                                        |

| • |     | WITHHOLD on Ms. Kool because she was Chair of the Compensation Committee when the aforementioned changes to                                                                                                                           
 the incentive plan occurred to the detriment of shareholders, she appears to have taken no action to address the Company’s dramatic loss in shareholder value and CEO’s poor performance, she has not been willing to meet with large 
 shareholders unless they communicate publicly, and she has cast a vote of “no confidence” as the lone director to choose to receive none of her annual retainer in stock (opting for cash only).                                      |

Digim