Company: EVLVW
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001628280-25-021091
Chunk: 62

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 62
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 and year-to-date periods ended June 30, 2022, September 30, 2022, March 31, 2023, June 30, 2023, September 30, 2023, March 31, 2024 and June 30, 2024 contained in its Quarterly Reports on Form 10-Q.

Dodd-Frank Clawback Policy . The revisions to correct these misstatements in previously issued financial statements required a recovery analysis of incentive-based compensation received by the Company’s current and former executive officers (“Covered Officers”) during the relevant recovery period pursuant to the Company’s Clawback Policy, which was adopted pursuant to the Nasdaq Listing Rule 5608, Section 10D of the Exchange Act, and Rule 10D-1 under the Exchange Act.

The Clawback Policy applies to incentive-based compensation earned based on the attainment of financial performance measures during the three completed fiscal years immediately preceding the restatement and received on or after October 2, 2023, the effective date of the policy. Any incentive compensation received prior to that date is not subject to recovery under the Clawback Policy. Under the Clawback Policy, incentive-based compensation is “received” in the fiscal period during which the financial reporting measure specified in the incentive-based compensation is attained, even if the payment or grant of the incentive-based compensation occurs after the end of that period.

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TABLE OF CONTENTS

Clawback Analysis . The only incentive-based compensation earned on or after the October 2, 2023 by our executive officers that was impacted by the restated financial statements were the 2023 annual cash incentive bonuses. The financial performance metrics used to determine payouts for the 2023 annual cash incentive bonuses were incremental ARR (15%), revenue (15%) and gross margin (20%). Incremental ARR was not affected by the error correction.

Revenue and Gross Margin Measure . The Compensation Committee determined that revenue for 2023 was overstated by $ 853,000when taking into account the restated results, changing the overall payout under the revenue metric from 100% to 99.5% of target and the gross margin metric from 100% to 87.5%. As a consequence of this reduction, payouts to Covered Officers for the 2023 annual cash incentive bonuses attributable to revenue and gross margin were determined by the Compensation Committee to be $ 1,217,520( 106.8% of target funding), rather than $ 1,