Company: MVIS
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001641172-25-006436
Chunk: 49

Company: MICROVISION, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 49
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 our compensation programs and the assessment process so that we
are able to respond to and adjust for the evolving business environment and the value delivered by our named executive officers. In addition
to competitive data, we may take into account a variety of other factors, such as general market conditions, internal equity, the company’s
size and cash flow, and an individual’s level of responsibilities, as well as an individual’s recent or future expected contributions.

Consideration of Say-on-Pay Vote Results. We
provide our shareholders with the opportunity to cast an annual advisory vote on executive compensation. At our 2024 annual meeting of
shareholders, which took place last June, our shareholders approved the compensation of our named executive officers as disclosed in our
2024 proxy statement with approximately 72% of the votes cast in favor of the proposal. To enhance engagement with our large base of retail
shareholders, management may hold virtual meetings or “fireside chats” with groups of shareholders at various times throughout
the year. The Compensation Committee will continue to consider the results of the annual say-on-pay vote and specific shareholder input
in determining 2025 and future compensation programs for our executive officers.

2024 Compensation Program—Generally

Base Salaries. Base salaries for our
named executive officers are determined for each executive based on position, responsibility, experience and competitive market data.
Base salaries are adjusted from time to time to recognize various levels of responsibility, promotions, individual performance, market
conditions and internal equity issues. Rather than applying a formulaic approach, the Compensation Committee awards base salaries for
our named executive officers within the context of our overall merit increase system considering level of responsibility, individual performance,
market competitive factors, and the critical role of the executive in our future growth and strategy.

Annual Performance-Based Incentive Bonus. Historically,
the Compensation Committee has approved an annual performance-based incentive bonus opportunity for each executive in order to motivate
and reward an individual’s annual contribution to company performance. In June 2024, the Compensation Committee approved the 2024
Executive Bonus Plan, which was designed to motivate and reward participants based upon the company’s annual performance and for
their individual contributions to the company’s success during 2024, as well as to encourage retention. The plan is intended to
reward high performance consistent with our core business objectives.

Payouts under the 2024 Executive Bonus Plan require
achievement of preestablished company financial and individual business objectives. The financial objectives are based on 2024 revenue
and adjusted