Company: MVIS
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0001641172-25-005410
Chunk: 43

Company: MICROVISION, INC.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 43
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 “FOR” THE APPROVAL, ON AN ADVISORY BASIS, OF THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS FOR FISCAL 2024, AS DISCLOSED IN THIS PROXY STATEMENT.

EXECUTIVE COMPENSATION</div>

Compensation Discussion & Analysis

This compensation discussion and analysis describes
the principles underlying our executive compensation program and discusses how those principles affected our policies and decisions regarding
the compensation of our named executive officers during 2024.

Executive Summary

Our Business and Strategy. MicroVision is committed
to driving the global adoption of our proprietary products, which leverage our deterministic AI “at the edge” with our innovative
perception and application software running on our diverse lidar sensors. Our solutions enable advanced driver-assistance systems, or
ADAS, and autonomy features for customers in a wide range of industries, including robotics, automated warehouse, agriculture, mining,
military, and automotive. Our deterministic AI at the edge software running on our sensors enables intelligent autonomous, active safety,
and automation systems which depend on secure, cost-effective, and energy-efficient solutions. This software has been developed in close
collaboration with our automotive customers and we are now rapidly expanding with it into new industrial and commercial vehicle sectors.

Our integrated solution, built on our perception software
stack, combines our lidar sensors, both MEMS-based and flash-based, and application software targeted for sale to industrial mobility
and autonomy companies, automotive OEMs and Tier 1 suppliers, and defense contractors. Our deterministic AI at the edge enables critical
decisions to be made locally and independent of the cloud, leading to faster responses, improved data privacy, and reduced costs. Our
mature perception software stack has met the rigorous requirements of automotive qualification and incorporates advanced features, like
localization and fusion. Our lidar sensors include MAVIN®, a MEMS-based long-range sensor capable of small object
detection, and MOVIA™, a flash-based short- to mid-range sensor, both suitable for industrial and automotive applications. We also
develop customer-specific application software, allowing expansion into a wide array of sectors.

Our Financial Results. Revenue in 2024 was
$4.7 million, which was lower than 2023 revenue of $7.3 million; gross loss in 2024 was $2.8 million, which was significantly lower than
2023 gross profit of $4.5 million. Our 2024 revenue was primarily attributable to sales of our lidar