Company: MVIS
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0001641172-25-005410
Chunk: 24

Company: MICROVISION, INC.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 24
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2 Incentive Plan. Our named executive officers and directors have an interest in this proposal as they are eligible to receive
equity awards under the Plan Amendment.

Proposal

At our 2022 annual meeting, our shareholders approved
the initial share reserve under the 2022 Incentive Plan equal to: (a) 16.5 million shares, plus (b) (i) any shares that, as of immediately
prior to the termination of the 2020 Plan, had been reserved but not issued pursuant to awards granted under the 2020 Plan and
not subject to any awards granted thereunder, plus (ii) any shares subject to awards granted under the 2020 Plan that, after the 2020
Plan was terminated, expire or otherwise terminate without having been exercised or issued in full or are forfeited
to or repurchased by the company due to failure to vest, with the maximum number of shares to be added to the 2022 Incentive Plan pursuant
to clause (b) above equal to 3.5 million shares. As of February 28, 2025, there were 12.2 million shares subject to outstanding equity
awards granted under the 2022 Incentive Plan and, currently, only approximately 2.2 million shares remain available for issuance under
the 2022 Incentive Plan. Information regarding the shares continuing to be governed by the 2022 Incentive Plan, in aggregate, is as follows:

If approved by our shareholders, we believe the reservation
of an additional twelve million shares pursuant to the Plan Amendment will provide us with a sufficient number of shares available
for issuance under the 2022 Incentive Plan to continue to provide a range of equity incentive tools and sufficient flexibility to permit
us to make effective use of the share-based awards our shareholders authorize for incentive purposes. Without increasing the number of
shares available for issuance under the 2022 Incentive Plan, once the currently remaining reserve of 2.2 million shares
is exhausted, we will not be able to continue to offer competitive levels of equity compensation to attract and retain qualified personnel
to continue supporting our current operations or potential growth. As a result, we may need to make significant changes to our compensation
practices that would limit the flexibility to provide competitive compensation. Changes may include increased use of cash which, in addition
to impacting our ability to attract, motivate, and retain highly qualified personnel for positions of substantial responsibility with
the company