Company: VSAT
Filing Date: 2025-07-25
Form Type: DEF 14A
Source: 0001193125-25-165436
Chunk: 45

Company: VIASAT INC
Filing Date: 2025-07-25
Form: DEF 14A
Chunk 45
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 5 is not approved, the Restated Purchase Plan will not become effective, the existing Purchase Plan will continue in full force and effect, and we may continue to grant purchase rights under the existing Purchase Plan, subject to its terms, conditions and limitations, using the shares available for issuance thereunder. The Board recommends that you vote “FOR” the Restated Purchase Plan. Why You Should Vote for the Restated Purchase Plan The Restated Purchase Plan is a Valuable Retention Tool. We firmly believe that the Restated Purchase Plan is a necessary and powerful incentive and retention tool that benefits our stockholders. Specifically, the Restated Purchase Plan will enable us to continue to: (1) provide eligible employees with a convenient means of acquiring an equity interest in Viasat through payroll deductions, (2) enhance such employees’ sense of participation in the performance of Viasat, and (3) provide an incentive for continued employment. The Restated Purchase Plan will also continue to align the interests of employees with those of stockholders through increased stock ownership. The Purchase Plan Will No Longer Have Shares Available for Purchase. As of July 1, 2025, 3,927,437 shares remained available for purchase under the Purchase Plan. Based on historical usage, we estimate that these shares would have been sufficient for three to four additional offering periods. Thus, the increase in the shares available for issuance under the Purchase Plan pursuant to the amendment and restatement is necessary to allow us to continue to provide an employee stock purchase plan beyond this time without interruption. Factors Considered in Determining Proposed Increase to Share Reserve. In making its determination to approve the Restated Purchase Plan, our Board considered various factors in determining the appropriate number of shares to be added to the share reserve under the Purchase Plan, including an analysis of certain burn rate, dilution and overhang metrics and the costs of the increase in the share reserve. Our fiscal year 2025, 2024 and 2023 annual gross burn rates for the Purchase Plan were 1.23%, 0.74% and 1.15%, respectively (calculated by dividing the number of shares issued under the Purchase Plan during the applicable fiscal year by the weighted-average number of shares outstanding during such fiscal year). This represents a three-year average burn rate of 1.04% of common shares outstanding with respect to the Purchase Plan. In fiscal years 2025, 2024 and 2023, our fiscal year end overhang rates for the Purchase Plan were 3