Company: MVIS
Filing Date: 2025-06-06
Form Type: 8-K
Source: 0001641172-25-014120
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Company: MICROVISION, INC.
Filing Date: 2025-06-06
Form: 8-K
Item: Item 5.02
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Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On
June 2, 2025, the Compensation Committee of the Board of Directors of MicroVision, Inc. (the “ Company”) approved the 2025
Executive Bonus Plan (the “ Bonus Plan”), designed to motivate and reward eligible employees based upon the Company’s
performance and for their individual contributions to the success of the Company, as well as to encourage retention. The Compensation
Committee will administer the Bonus Plan and it will be used to determine bonuses for performance in 2025. Payouts under the Bonus Plan
will be determined by our Compensation Committee, or by the Board of Directors for the CEO, and will be based on the Company’s
financial performance and individual performance.

Any
bonuses payable pursuant to the Bonus Plan will be paid in cash or in the form of an equity award, or a combination thereof. Equity awards
granted under the Bonus Plan are subject to the terms of the Company’s 2022 Equity Incentive Plan, as amended, (and any successor
plan), the applicable form of award agreement thereto, and applicable laws.

On
June 2, 2025, the Compensation Committee approved, subject to certain conditions, the following related to the Company’s compensation
program for the non-CEO executive officers: (i) Chief Financial Officer Anubhav Verma is eligible for a short-term incentive bonus opportunity
of 65% (increased from 40%) of base salary tied to achievement of specified financial objectives and individual business objectives pursuant
to the terms of the Bonus Plan and was granted a long-term incentive equity award of 450,000 restricted stock units scheduled to vest
at a rate of 33% annually over the ensuing three years, and (ii) General Counsel Drew Markham is eligible for a short-term incentive
bonus opportunity of 55% (increased from 40%) of base salary tied to achievement of specified financial objectives and individual business
objectives pursuant to the terms of the Bonus Plan and was granted a long-term incentive equity award of 360,000 restricted stock units
scheduled to vest at a rate of 33% annually over the ensuing three years. On June 6, 2025, the Board of Directors granted to Chief
Executive Officer Sumit Sharma a long-term incentive
equity award of 1,125,000 restricted stock