Company: MVIS
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0001641172-25-005410
Chunk: 26

Company: MICROVISION, INC.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 26
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 | Prohibition on Repricing: The Plan continues to prohibit option repricings or other exchange programs 
 without shareholder approval.                                                                         |

Considerations of our Board of Directors in Making its Recommendation

Our Board approved the Plan Amendment to increase
the number of shares reserved under the 2022 Incentive Plan by twelve million shares.

Our Board and management believe that granting equity
awards motivates higher levels of performance, aligns the interests of employees and shareholders by giving employees the perspective
of owners with equity stakes in MicroVision, and provides an effective means of recognizing employee contributions to our success. Our
Board and management also believe that equity awards are of critical value in recruiting and retaining highly qualified technical and
other key personnel who are in great demand, as well as rewarding and encouraging current employees and other service providers. Finally,
our Board and management believe that the ability to grant equity awards will be critical to our future success by helping us to accomplish
these objectives.

In 2022, when we last sought shareholder approval
of an increase to the number of shares reserved for issuance under the 2022 Incentive Plan, we disclosed that we expected that the reserve
would be sufficient through fiscal year 2024 and that we would potentially request additional shares in fiscal year 2025 or 2026. Thus,
our usage of shares under the 2022 Incentive Plan was in line with our expectations. Now, if our shareholders approve the Plan Amendment,
we currently anticipate that the shares available under the 2022 Incentive Plan will be sufficient to meet our expected needs through
2027, depending upon future stock prices and business needs, so we therefore anticipate that we may request additional shares
under the 2022 Incentive Plan at our 2027 or 2028 annual meeting of shareholders. However, future circumstances and business
needs may dictate a different result. In determining the number of shares to be reserved for issuance under the 2022 Incentive Plan,
our Board also considered the following:

| 19 |

| ● | Remaining Competitive by Attracting/Retaining Talent. As discussed above, our  Board considered the importance of an adequate pool of shares to attract, retain and reward our high-performing employees, especially 
 since we compete with many heavily resourced technology companies for a limited pool of talent.                                                                                                                      |

| ● | Historical Grant Practices. Our  Board considered the historical amounts                                                                   
 of equity awards that we have granted in the past three years. In fiscal years