Company: EVLVW
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001628280-25-021091
Chunk: 10

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 10
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, including disclosing our targets and achievement against those targets.                                                                                      
 PIn 2025, we revised our annual cash incentive plan to use free cash flow as a target rather than our cash balance at the end of the year.                                                                                                                                           |
| Peer Group Selection                   |     | •Stockholders wanted to better understand what companies our peer group was comprised of and whether these companies were the right comparison group.       |     | PWe have disclosed all the companies that comprised our peer group for 2024, as well as modifications to the group for 2025, which we believe demonstrates the appropriateness of our peer group.                                                                                    |

#### Evolv’s Executive Compensation Program
Evolv’s compensation program is designed to attract, motivate, and retain talented individuals who drive Evolv’s success by supporting our mission, embodying our core values, and driving innovative business strategy and decisions.

#### New CEO Compensation
In connection with Mr. Kedzierski’s appointment as Chief Executive Officer, in December 2024, we entered into an offer letter with Mr. Kedzierski, which documents his compensation and employment terms. In developing the terms of Mr. Kedzierski’s compensation package, the Compensation Committee considered, among other things, our stockholder feedback on the importance of performance-based compensation that is tied to stockholder value creation. As shown below, the vast majority of our new CEO’s new hire compensation package was either “at risk” or performance-based, with 50% of his compensation being performance-based. "At risk” refers to compensation that is variable, and therefore "at-risk" of not being paid out. At-risk compensation is typically tied to the achievement of one or more performance metrics that measure value creation over both the near and longer term, as well as service period requirements.

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TABLE OF CONTENTS

NEW CEO COMPENSATION MIX (1)

| 9%          
 Base Salary |     | 9%                              
 Target Annual Cash Incentive    |     | 41%                    
 Performance-Based RSUs |     | 41%             
 Time-Based RSUs |
|             |     | 91%at risk;50%performance-based |     |                        |     |                 |

(1) Mr. Kedzierski did not commence employment with the Company until December 16, 2024, and therefore this chart reflects his compensation mix as of the grant date of the performance- and time-based restricted stock units (“RS