Company: DMRC
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001437749-25-009135
Chunk: 57

Company: Digimarc CORP
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 57
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                                          | 8,918 |     | $                             | 266,187 |
| Tom Benton       |     |                                          | 5,399 |     | $                             | 156,189 |
| George Karamanos |     |                                          | 1,150 |     | $                             |  30,579 |
| Tony Rodriguez   |     |                                          | 8,194 |     | $                             | 244,699 |

Potential Payments upon Termination or Change-in-Control

There are several scenarios wherein payments can be made to executives upon termination or change-in-control of the Company. These scenarios include payments made pursuant to Change of Control Retention Agreements, the normal operation of the 2018 Stock Incentive Plan, and severance or separation agreements. A table at the end of this section sets forth the potential payments under these scenarios.

Executive Agreements

Each named executive officer was a party to a change of control retention agreement that was effective through the period ended December 31, 2024. Such agreements provided for certain severance benefits in the event of termination of the executive officer without cause by Digimarc, or termination by the executive officer for good reason, within 12 months following a change of control of Digimarc during the term of the change of control retention agreement. The severance benefits payable upon such a termination included 12 months’ salary and up to 18 months’ premiums necessary to continue the executive’s health insurance coverage under our health insurance plan.

In connection with the expiration of such change of control retention agreements, the Compensation Committee approved effective for employment terminations after January 1, 2025 a new form of executive retention agreement for each of the named executive officers. Such agreements provide for certain severance benefits in the event of termination of the executive officer without cause by Digimarc, or termination by the executive officer for good reason. The severance benefits payable upon such a termination include 18 months’ salary for Mr. Riley and 12 months’ salary for the other executive officers and up to 18 months’ premiums necessary to continue the executive’s health insurance coverage under our health insurance plan. If such termination of employment occurs within three months before or twelve months after a change of control, the executive officer would also be entitled to a pro rata target bonus and vesting of equity awards.

In consideration for the post-termination payments described above, the named executive officer must execute and not revoke a settlement agreement and general release related to employment and termination.

Stock Options, Restricted