Company: VHC
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001140361-25-015742
Chunk: 42

Company: VirnetX Holding Corp
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 42
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. In November 2024, the compensation committee reviewed the Company’s performance in 2024 and the contributions that our named executive officers made to such performance. The compensation committee determined to pay bonuses equal to 75%, 50% and 50% for Mr. Larsen, Dr. Short and Ms. Allanson, respectively, of their respective 2024 base salaries in light of the Company’s overall performance for 2024. In making such payments, the compensation committee considered various factors, including advances in product development and their contributions in achieving this performance, the achievement of certain licensing, technical, investment and partnership milestones, and the development of the Company’s direction into governments agencies and institutions in the space and defense industry, none of which were given any particular weight or assigned a dollar value. The resulting aggregate 2024 annual incentive bonus payments paid to Mr. Larsen, Dr. Short and Ms. Allanson were $616,096, $261,328 and $162,727, respectively. Equity Incentive Compensation In 2024, the compensation committee approved grants of RSAs to Mr. Larsen, Dr. Short and Ms. Allanson as shown in the table below. In determining 2024 RSAs for Mr. Larsen, Dr. Short and Ms. Allanson, the compensation committee reviewed various factors, including the Company’s performance, each officer’s performance and perceived criticality to future success, market practices with respect to long-term incentives, and total annual equity allocations at the Company for 2024.

| Name                       |     | Position                                       |     | Grant Date |     |  Number of 
     Shares 
 Underlying 
      Stock 
   Award(1) |     |   Stock Award 
    Grant Date 
 Fair Value(2) |
| Kendall Larsen             |     | Chief Executive Officer,President and Chairman |     | 11/14/2024 |     |     50,000 |     |      $295,000 |
| Robert D. Short III, Ph.D. |     | Chief Scientist                                |     | 11/12/2024 |     |     30,000 |     |      $182,400 |
| Katherine Allanson         |     | Chief Financial Officer                        |     | 11/12/2024 |     |     30,000 |     |      $182,400 |

| (1) | Subject to the continued service of the named executive officer, 1/4 of the total number of