Company: EVLVW
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001628280-25-021091
Chunk: 42

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 42
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 of our equity-based compensation program be performance-based and tied to stockholder value creation. |     | ✓50% of our CEO’s 2024 new hire equity awards and 50% of our executive officers’ annual equity awards in 2025 are performance-based.                                                             
 ✓ Performance-based awards do not provide value to executives unless we achieve certain milestones tied to total stockholder return.                                                             |
| Short-Term Annual Cash Incentive Plan |     | Stockholders want more robust disclosure regarding the design of our short-term annual cash incentive plan.                                                
 Stockholders prefer the use of free cash flow vs cash balance as a performance metric.                                                                     |     | ✓We have provided more robust disclosure regarding the design of our fiscal 2024 short-term annual cash incentive plan, including disclosing our targets and achievement against those targets   
 ✓In 2025, we revised our annual cash incentive plan to provide for 100% financial-based performance metrics, using free cash flow as a metric rather than cash balance.                          |
| Peer Group Selection                  |     | Stockholders wanted to better understand what companies our peer group was comprised of to assess whether these companies were the right comparison group. |     | ✓We have disclosed all the companies that comprised our peer group for 2024, as well as modifications to the group for 2025,which we believe demonstrates the appropriateness of our peer group. |

#### Executive Compensation Philosophy
Evolv’s compensation program is designed to attract, motivate, and retain talented individuals who advance Evolv’s success by supporting our mission, embodying our core values, and driving innovative business strategy and decisions. We strive to provide total direct compensation that reflects tenure, experience, performance, and growth expectations as well as market considerations. In addition to base salary, we provide incentive pay, both short- and long-term, to attract and retain talent. Short-term incentive compensation is primarily cash-based. Long-term incentive compensation is equity-based and beginning with our new CEO in 2024 and annual grants in 2025, 50% performance-based. We use incentive pay to recognize and reward achievement and overachievement of our goals, tying incentives to company performance goal targets that are appropriately rigorous but reasonably achievable.

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TABLE OF CONTENTS

#### Compensation Highlights
| ✔ What We Do                                                                                                                                                                                                                                                                                                                                            |     | ✗ What We Don’t Do                                                                                                    |
| •Pay-for-performancephilosophy with large majority of pay at-risk                                                                                                                                                                                                                                                                                       
 •Set rigorous and