Company: MVIS
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001641172-25-006436
Chunk: 46

Company: MICROVISION, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 46
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ma and to 
 $400,000 for Ms. Markham.                                                                             |

| ● | The performance-based bonus target for each of Mr. Verma and Ms. Markham remained at 40% of base salary                                           
 but, as the date of this report, achievement of the applicable performance goals for 2024 has not been made or approved although our Compensation 
 Committee anticipates making such determination by the end of the second quarter of 2025. These incentive performance-based bonuses are           
 more fully described later in this compensation discussion and analysis.                                                                          |

| ● | To strongly align the interests of our executive team and our shareholders, the Board granted a long-term                                 
 equity incentive award of 450,000 shares and 360,000 shares to Mr. Verma and Ms. Markham, respectively, scheduled to vest in equal annual 
 installments over three years from the grant date, subject to continued service to the company through the applicable vesting date. The   
 grant value from these equity awards was below the median and resulted in below-median 2024 target compensation for Mr. Verma and Ms.     
 Markham.                                                                                                                                  |

Executive Compensation Philosophy and Elements

The overall objectives of our executive compensation
program are to provide compensation at competitive levels in order to recruit and retain talented executives, motivate our executives
to achieve our strategic and financial objectives, and provide incentives to help align the interests of our executives with the interests
of our shareholders.

Our executive compensation program includes the following
primary elements of compensation:

| Base Salary                              |     | Base salaries for our executives are primarily based on the role, taking into account competitive market compensation paid by other companies in our peer group for comparable positions. Each named executive officer’s base salary is also determined by reviewing the other components of an executive’s compensation to ensure that the total compensation is in line with the Compensation Committee’s overall compensation philosophy, recognizing the opportunity for long-term equity and cash bonus. |
| Annual Performance-Based Incentive Bonus |     | The Compensation Committee believes that a portion                                                                                                                                                                                                                                                                                                                                                                                                                                                            
 of each executive’s total cash compensation should be based on the company’s performance. The Compensation Committee believes                                                                                                                                                                                                                                                                                                                                                                                 
 that structuring a significant portion of each executive’s annual cash compensation as a short-term incentive bonus, and the contingent                                                                                                                                                                                                                                                                                                                                                                       
 nature of that compensation, induces an executive to drive toward achievement of both the short- and long-term goals of the company. The                                                                                                                                                                                                                                                                                                                                                                      
 amount of the bonus depends generally on the level