Company: MVIS
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0001641172-25-005410
Chunk: 69

Company: MICROVISION, INC.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 69
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 executives                                                                  |
| Revenue             | A factor in assessing market progress and critical to the company’s long-term sustainability |
| Adjusted EBITDA     | A key non-GAAP measure used by our Board and management to evaluate company performance      |

While we are required to disclose our net
loss for each covered fiscal year, this is not a metric used in our compensation programs at this time.

Narrative Disclosure of Pay Versus Performance Table. In the “Compensation Discussion & Analysis” section of this Proxy Statement, we provide greater detail on
the elements of our executive compensation program and our “pay-for-performance” compensation philosophy. We believe that
our executive compensation program and the executive compensation decisions included in the 2024 Summary Compensation Table and related
disclosures appropriately reward our PEO and non-PEOs for driving efforts of our entire team toward our collective strategic goals, thereby
supporting the long-term value creation for our shareholders.

The values included in the columns for Compensation
Actually Paid to our PEO and non-PEOs, calculated in accordance with newly adopted SEC disclosure rules, in each of the fiscal years reported
above and over the four-year cumulative period shows how the compensation awarded fluctuated year-over-year, primarily based on our stock
price as of the last day of the listed fiscal year, among other factors. As the values change considerably from year-to-year based on
stock price performance, they may not serve as a meaningful indicator of our compensation philosophy.

| 45 |

Compensation Actually Paid and Performance Measures.
The following graphical comparisons reflect the relationship between our PEO and average non-PEO compensation “actually paid”
versus the performance measures in the pay versus performance table from 2022 to 2024:

| 46 |

The pay-versus-performance analysis highlights our
goal of aligning our executives’ interests with our shareholders’ interests, which is at the center of our executive compensation
philosophy. The significant decrease in compensation paid to our PEO and non-PEOs from 2023 to 2024 relates to performance-based and
time-based equity awards that remained unvested at December 31, 2024. The decrease in compensation paid to our PEO and non-PEOs from
2022 to 2023 is due to the lack of new equity awards being granted in 2023, other than Mr. Sharma’s annual award of 300,000 RSUs
pursuant to his April 2021 employment agreement, as well as the decrease