Company: MVIS
Filing Date: 2025-09-04
Form Type: 8-K
Source: 0001493152-25-012611
Chunk: 0

Company: MICROVISION, INC.
Filing Date: 2025-09-04
Form: 8-K
Item: Item 5.02
Chunk 0
---
Item
5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.

Chief
Executive Officer Transition

On
September 2, 2025, the Board of Directors (the “ Board”) of MicroVision, Inc. (the “ Company”) appointed Glen W.
DeVos, the Company’s current Chief Technology Officer, to be the Company’s President and Chief Executive Officer and a member
of the Company’s Board as of September 30, 2025 (the “ Effective Date”), taking the place of the Company’s current
President and Chief Executive Officer, Sumit Sharma, who will continue to serve in that role until the Effective Date.

In
connection with his appointment as President and Chief Executive Officer, the Company and Mr. DeVos have entered an employment agreement
(the “2025 CEO Agreement”). T he 2025 CEO Agreement includes the following terms and
conditions: (i)

As
of the Effective Date, and pursuant to the terms of the 2025 CEO Agreement, the Board approved a short-term incentive bonus opportunity
of 100% of Mr. DeVos’ base salary tied to achievement of certain company financial, team and individual business objectives pursuant
to the terms of the 2025 Executive Bonus Plan

There
are no family relationships between Mr. DeVos and any Company director or executive officer, and there are no arrangements or understandings
between Mr. DeVos and any other person pursuant to which he was appointed as Chief Executive Officer. Mr. DeVos is not a party to any
current or proposed transaction with the Company for which disclosure is required under Item 404(a) of Regulation S-K.

Mr.
Sharma’s removal as President and Chief Executive Officer as of the Effective Date constitutes an “involuntary termination”
for purposes of the Company’s Executive Severance and Change in Control Plan. Accordingly, subject to execution of a customary
release, Mr. Sharma will receive the severance benefits to which he is entitled under such plan.

In
connection with this transition, on September 2, 2025, Mr. Sharma resigned from the Board, effective as of the Effective Date. Mr. Sharma’s
resignation from the Board was not due to any disagreement with the Company on any matter relating to the Company’s operations,
policies or practices.

For
additional details on the Key Executive Severance and Change in Control Plan, please refer to the disclosure in the