Company: EVLVW
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001628280-25-021091
Chunk: 52

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 52
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 are identified using objective screening criteria, input is provided by management, and the Compensation Committee uses its judgment to arrive at a reasonable sample.

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TABLE OF CONTENTS

The following factors were considered when selecting our peer group for 2024:

| Category                |     | Criteria                                                                                                      |
| General                 |     | •Publicly traded, standalone companies                                                                        
 •Comprehensive disclosure of executive compensation levels and practices                                      |
| Industry/Business Focus |     | •Focus on security, sensing and AI technology companies, with a secondary focus on other technology companies |
| Size                    |     | •Revenue between 0.2x and 5.0x of Evolv                                                                       
 •Last fiscal year average market capitalization between 0.2x and 5.0x of Evolv                                |
| Other                   |     | •Peers disclosed by Evolv’s continuing peer companies                                                         |

Based on these criteria, the Compensation Committee, in consultation with its independent compensation consultant, identified the following companies for its 2024 peer group (1) :

| 908 Devices           |     | Luna Innovations    |     | Qualys         |
| AeroVironment         |     | Mitek Systems       |     | Rapid7         |
| CEVA                  |     | Napco Security Tech |     | SiTime Corp    |
| Digi International    |     | nLIGHT              |     | SoundThinking  |
| Everbridge            |     | Ouster              |     | Terran Orbital |
| Immersion Corporation |     | PDF Solutions       |     | Workiva        |

(1) Among this peer group, Evolv placed at the 19 th percentile in terms of revenue and the 50 th percentile in current market capitalization. While this was a leading peer group from a revenue perspective, it allowed room for (and anticipated) Evolv’s future growth while lessening the need to substantially review the peer group in the future.

In July 2024, during its normal review process and in consultation with its independent compensation consultant, the Compensation Committee determined the peer group companies to be used for fiscal year 2025 compensation decisions, which was used to benchmark compensation for Mr. Kedzierski during his hiring process.

For the fiscal year 2025 peer group, the Compensation Committee modified the peer group by removing seven peers. Everbridge was acquired, and the remaining six (AeroVironment, Digi, Rapid7, Qualsys