Company: NXNVW
Filing Date: 2025-09-22
Form Type: 8-K
Source: 0001554855-25-001716
Chunk: 1

Company: NEXTNAV INC.
Filing Date: 2025-09-22
Form: 8-K
Item: Item 5.02
Chunk 1
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 and a grant of stock options (the “2026 Option Grant”), each expected to be valued at$750,000. The InitialRSU Grant, the Initial Option Grant, the 2026 RSU Grant and the 2026 Option Grant(collectively, the “ Equity Grants”) will vest as follows: 1/4 shall vest on the one-year anniversary of the applicable grant date and the remaining portion shall vest in equal installments at a rate of 1/12 per quarter thereafter, in each case subject to Mr. Gray’s continued service as of each such vesting date. The exercise price of the Initial Option Grant and the 2026 Option Grant is and will be, respectively,110% of the 20-day trailing average market price of the Company’s common stock, in each case as of the applicable grant date. The Equity Grants were made or will be made, as applicable, pursuant to the Company’s 2021 Omnibus Incentive Plan (the “ Plan”), as well as the Company’s form of RSU agreement and form of option agreement for employees, as applicable, each of which was previously filed with the U. S. Securities and Exchange Commission(the “ SEC”).

Mr. Gray’s initial term of employment began on the StartDate and continues until the second (2nd) anniversary thereof (the “ Initial Term”). On such second (2nd) anniversary and each annual anniversary thereafter, the Employment Agreement shall automatically renew for successive periods of one year (each, a “ Subsequent Term”), provided that neither the Company nor Mr. Gray has terminated the Employment A greement earlier or has provided the other party with90 day s’ prior notice before the upcoming renewal that the Company or Mr. Gray, as applicable, desires to terminate the Employment Agreement.

The Employment Agreement also contains certain severance terms. In the event: (a) of a termination by the Company for“ cause” (as defined in the Employment Agreement); (b) of resignation by Mr. Gray without“ good reason” (as defined in the Employment Agreement) during any Subsequent Term; (c) that either party provides notice prior to the expiration of the Initial Term or any Subsequent Term of that party’s intention not to renew the EmploymentAgreement; or (d) of a termination by the Company without“ cause” during a Subsequent Term, the Company shall pay to Mr. Gray or his heirs (in the event of death or incapacity), the compensation and benefits otherwise payable to Mr. Gray earned