Company: VHC
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001140361-25-015742
Chunk: 51

Company: VirnetX Holding Corp
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 51
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 and Customer Relations, respectively. Neither Dustan Sheehan nor Joshua Sheehan are executive officers of the Company. Dustan Sheehan resigned on May 31, 2024 and is no longer an employee of the Company or any of its affiliates. Mr. Larsen’s son, Parker Larsen, is currently employed by the Company as a Product Integration Engineer. Parker Larsen is not an executive officer of the Company. Robert D. Short III, Ph.D., the Company’s Chief Scientist, is the father-in-law of Corby Hoback, who is currently employed by the Company as a Vice President of Software Engineering. Corby Hoback is not an executive officer of the Company. Dr. Short’s son, Dunham Short, is currently employed by the Company as a Senior Software Engineer. Dunham Short is not an executive officer of the Company. The compensation for all such related persons was approved by the compensation committee, and all such related persons are compensated at a level that the Company believes is comparable to other employees in similar positions of responsibility at comparable companies. Compensation amounts below reflect the aggregate grant date fair value of the stock awards computed in accordance with FASB ASC Topic 718. The values of the option grants and stock awards include the value of unvested shares. There can be no assurance that these amounts will ever be realized. For information on the valuation assumptions used in valuing these stock option awards, refer to Note 6 titled “Stock – Based Compensation” in the Note to the Financial Statements contained in the Company’s Annual Report on Form 10-K for 2024. 2024

| • | Kathleen Larsen received an aggregate of $522,778 in the form of salary, an annual incentive bonus of $261,389, $40,214 in the form of a payout for unused and accrued vacation time and $182,400 in the form of stock awards. |

| • | Dustan Sheehan received a pro-rated salary of $58,620 in the form of salary and $9,740 in the form of a payout for unused and accrued vacation time. On April 8, 2024, Dustan Sheehan submitted his resignation effective May 31, 2024 and is no longer an employee of the Company or any of its affiliates. |

| • | Joshua Sheehan received an aggregate of $140,689 in the form of salary, an annual incentive bonus of $49,241 and $115,520 in the form of stock awards