Company: MVIS
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0001641172-25-005410
Chunk: 45

Company: MICROVISION, INC.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 45
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 Markham, was below the median for all three named executive officers.         |
| ● | Based on our 2023 peer group used by the Compensation Committee when they established 2024 compensation, the value of total compensation as reported in the Summary Compensation Table in this proxy statement was at the median for Mr. Sharma and was below the median for Mr. Verma and Ms. Markham. |

In July 2024, the Board approved a new employment
agreement for our CEO, as his April 2021 employment agreement had been set to expire in April 2024. Highlights relating to our CEO’s
2024 compensation, based on the July 2024 agreement terms, include:

| ● | Base annual salary for Mr. Sharma, which is subject to annual review by our Board, remained at $530,000, as had been established by the Board in 2023, and was below the median as compared to our 2023 peer group.                                                                                                                                                                                                                                                                                                                                                       |
| ● | Although he had no short-term incentive bonus opportunity prior to 2024, pursuant to the July 2024 agreement the Board established a target bonus opportunity for fiscal year 2024 equal to 100% of Mr. Sharma’s base salary. As of the date of this report, achievement of the applicable performance goals for 2024 has not been made or approved although our Board anticipates making such determination by the end of the second quarter of 2025. This incentive performance-based bonus is more fully described later in this compensation discussion and analysis. |
| ● | To strongly align the interests of our CEO and our shareholders, the Board granted Mr. Sharma a long-term equity incentive award of 1.125 million shares, scheduled to vest in equal annual installments over three years from the grant date, subject to continued service to the company through the applicable vesting date.                                                                                                                                                                                                                                           |

| 30 |

In June 2024, our Compensation Committee approved
certain adjustments to compensation for both Mr. Verma and Ms. Markham in connection with their promotion to Senior Vice President, as
follows:

| ● | With the Company’s significant global expansion in 2023 and the broadening of its strategic plan                                      
 to include new markets and product solutions, Mr. Verma and Ms. Markham were each promoted to the level of Senior Vice President from 
 Vice President.                                                                                                                       |

| ● | With the expanded responsibilities, base annual salary was increased to $425,000 for Mr. Ver