Company: VHC
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001140361-25-015742
Chunk: 47

Company: VirnetX Holding Corp
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 47
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’s continued service as a service provider of the Company on each date. |

| (8) | 1/4 of the shares subject to this option vest and become exercisable on the one-year anniversary of the grant date, and the remaining vest in 36 equal installments on the one-month anniversary of the grant date, subject to the optionee’s continued status as a service provider of the Company on each date. |

Potential Payments Upon Termination or Change in Control As stated elsewhere in this Proxy Statement, we do not provide change in control agreements or employment agreements providing formal cash or equity severance rights to any of our named executive officers. However, the Board has made the determination that all equity awards issued under our Plan will include the provision that in the event of a “Change in Control” (as defined in our Plan), all unvested shares underlying the option, all unvested RSUs and all unvested RSAs will vest and become exercisable immediately prior to the consummation of such Change in Control transaction. The table below provides an estimate of the value of the equity awards that will vest and become immediately exercisable prior to the consummation of such Change in Control transaction for each of our named executive officers for our fiscal year ended December 31, 2024, assuming that the change in control was effective on December 31, 2024. The amounts reported in the table reflect the aggregate market value of the unvested shares of our common stock underlying outstanding stock option, RSAs and RSU awards.

|                            |     |        Option Awards |     |                |     |        Stock Awards |     |                |
| Name                       |     |     Number of Shares 
 Acquired on Exercise |     | Value Realized 
 on Exercise(1) |     |    Number of Shares 
 Acquired on Vesting |     | Value Realized 
  on Vesting(2) |
| Kendall Larsen             |     |                2,281 |     | $—             |     |              52,115 |     |    $409,100.40 |
| Robert D. Short III, Ph.D. |     |                1,244 |     | $—             |     |              31,056 |     |    $243,789.21 |
| Katherine Allanson         |     |                1,125 |     | $—             |     |              30,557 |     |    $239,868.53 |

| (