Company: KVHI
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001104659-25-040173
Chunk: 25

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 25
---
 date. (2) Each option was granted five years before the option expiration date and has a five-year term. (3) Restricted stock awards vest in equal installments on the first four anniversaries of the grant date. (4) Market value is calculated by multiplying the number of restricted stock awards that have not vested by $5.70, which was the closing price of our common stock on the Nasdaq Global Select Market on December 31, 2024, the last trading day of 2024.

KVH Industries, Inc. 2025 Proxy Statement 18

TABLE OF CONTENTS COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS

Pay for Performance Table The following table provides a comparison between two measures of compensation for our named executive officers and certain measures of performance. The two compensation measures are the named executive officers’ “total compensation,” as presented in the Summary Compensation Table, and their “compensation actually paid,” a measure of compensation required by SEC rules. These measures are presented for each person who served as our chief executive officer during the relevant year, individually, and for our other named executive officers, as an average for the group. While both “total compensation” and “compensation actually paid” measure compensation for the same fiscal year, the two measures are calculated differently. Compensation actually paid is based on total compensation but substitutes different amounts for equity compensation. Compensation actually paid removes from total compensation the grant-date fair value of equity awards granted during the relevant year and replaces it with the net aggregate change in the fair value of equity awards during the relevant year. This net aggregate change in fair value represents the sum of: • the year-end fair value of new awards granted during the year that are outstanding and unvested as of the end of the year; • the change in the fair value (positive or negative) of unvested awards outstanding during the entire year, measured from the beginning of the year to the end of the year; • the vesting-date fair value of new awards that are granted and also vest in the year; • the change in the fair value (positive or negative) of unvested awards that are held at the beginning of the year and that also vest during the year, measured from the beginning of the year to the vesting date; • the loss in fair value of unvested awards outstanding at the beginning of the year that fail to meet applicable vesting conditions during the year, measured as the loss of the fair value of those awards at the beginning of the