Company: MVIS
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000783
Chunk: 149

Company: MICROVISION, INC.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1B
Chunk 149
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2 
     8,866  
     3.85 
  
    Granted 
     3,491  
     3.89 
  
    Vested 
     (1,872) 
     6.98 
  
    Forfeited 
     (502) 
     7.47 
  
    Unvested as of December 31, 2023 
     9,983  
     3.09 
  
    Granted 
     9,234  
     1.26 
  
    Vested 
     (5,437) 
     3.63 
  
    Forfeited 
     (1,767) 
     2.65 
  
    Unvested as of December 31, 2024 
     12,013  
    $1.51 

During
the year ended December 31, 2024, the Company granted 5,384,000 shares to non-executive employees for annual and short-term incentive
awards. Additionally, the Company granted 80,000 shares to non-executive employees for new hire grants. These shares are valued based
on the closing price of common stock on the dates of grant and vest immediately or over three or four years.

During
the year ended December 31, 2024, the Company granted 3,771,000 shares to executive employees and directors for annual, short-term incentive,
and long-term incentive awards. These shares are valued based on the closing price of common stock on the dates of grant and vest immediately,
over one year, or over three years.

As
of December 31, 2024, unrecognized share-based compensation related to RSUs was $6.8 million, which will be expensed over the next 2.0
years. Unrecognized share-based compensation related to executive PSUs was $2.5 million, which will be expensed over the next 1.0 year.
Unrecognized share-based compensation related to the non-executive PSUs was $0.3 million, which will be expensed over the next 0.5 years.

    54

10.
LEASES

The
Company leases office space and certain equipment under operating and finance leases. All leases have remaining lease terms of one to
eight years. Office lease agreements include both lease and non-lease components, which are accounted for separately. Finance leases
contain options to purchase the leased property. The