Company: VHC
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001140361-25-015742
Chunk: 41

Company: VirnetX Holding Corp
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 41
---
 the Board. Mr. Larsen, a founder of VirnetX Inc., has driven the organization’s performance, leading it from inception, through the early start-up phase and through several rounds of financing. He has also helped drive significant revenues, and achievement of operational and strategic milestones. The compensation committee believes that Mr. Larsen is critical to our ability to pursue our licensing strategy going forward. In light of these considerations and the other factors described above, in November 2023, the compensation committee increased Mr. Larsen’s base salary from $789,867 to $821,461 for 2024, an increase of approximately $31,594 or 4%, from 2023. The compensation committee felt this salary increase was warranted due to the value Mr. Larsen brings to the Company through his key role in the management of the Company during his long tenure, as well as our successes under his leadership in product development, licensing, and litigation matters. Dr. Short has significant scientific and technological expertise, and the compensation committee considered his technical, scientific and management skills, his level of responsibility and expected contributions to intellectual property and product development. In light of these considerations and the other factors described above, in November 2023, the compensation committee increased Dr. Short’s base salary from $502,554 to $522,655 for 2024, an increase of approximately $20,101, or 4%, from 2023. The compensation committee felt this salary increase was appropriate given his long tenure with us and contributions to our business. Ms. Allanson has significant public company experience as well as institutional knowledge of the Company, having provided independent consultant accounting and reporting services to the Company since October 2011, and

29

TABLE OF CONTENTS

the compensation committee considered her technical and strategic skills, her level of responsibility and expected contributions to our further success. In light of these considerations and the other factors described above, in November 2023, the compensation committee increased Ms. Allanson’s base salary from $312,936 to $325,453 an increase of approximately $12,517 or 4% from 2023. The compensation committee felt this salary increase was appropriate given her experience with us and contributions to our business. Bonuses 2024 Annual Incentive Bonus In 2024, the compensation committee set the 2024 target incentive opportunity percentages for Mr. Larsen to 75%, and Dr. Short and Ms. Allanson to 50% of their respective 2024 base salary