Company: MVIS
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001641172-25-006436
Chunk: 16

Company: MICROVISION, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 16
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 average closing price of our common stock for the 20 trading days prior to the applicable annual meeting date, whereas the grant date fair value is calculated based on the closing price on the grant date. In addition, Mr. Schabert’s award covered the same number of shares as other directors but was granted on a different date, thus resulting in a different grant date fair value. |
| (4) | As of December 31, 2024, each of our active non-employee directors held an outstanding RSU award covering 40,224 shares of MicroVision common stock. Additionally, Mr. Spitzer, pursuant to a deferral election for tax planning purposes, deferred settlement of 85,982 RSUs granted in 2023 and 2024. In accordance with Mr. Spitzer’s deferral election the vested shares to be issued in settlement of such RSUs will be delivered to him when he ceases to provide services to us or upon our change of control.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| (5) | As of December 31, 2024, the number of outstanding shares underlying option awards for each of our non-employee directors was 30,000 for each of Mr. Biddiscombe, Mr. Carlile, and Mr. Spitzer, and 0 for Mr. Herbst, Mr. Schabert, and Ms. Smith.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |

All directors are reimbursed for reasonable travel
and other out-of-pocket expenses incurred in attending meetings of the Board.

We believe it is important to have a compensation
policy for non-employee directors that enables us to attract and retain skilled board members with relevant expertise. Our Director Compensation
Policy was revised May 2021 to provide a total annual compensation approach that is split between cash and equity based on dollar value.
Our Compensation Committee, supported by its independent compensation consultant, reviews our policy regularly to ensure its market competitiveness
and continued effectiveness in meeting our goals. Under the policy, base cash compensation is $75,000 for each director. Board and committee
chairs receive additional cash compensation that reflects additional responsibilities: Board chair, $50,000; audit committee chair, $20,000;
compensation committee chair, $15,000; and nominating & governance committee chair, $10,000. Independent Directors are generally required
to serve on two committees. Cash is paid in equal quarterly installments. Annual equity compensation for each director is in the form
of an award of RSUs equal