# EDGAR Filing Document

**Accession Number:** 0001835591
**File Stem:** 0001835591-23-000009
**Filing Date:** 2023-2
**Character Count:** 22337
**Document Hash:** 62e004ee6c75bb3d0dc590f3c795d615
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001835591-23-000009.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001835591-23-000009

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230223

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Vizio Holding Corp.
- **CENTRAL INDEX KEY:** 0001835591
- **STANDARD INDUSTRIAL CLASSIFICATION:** HOUSEHOLD AUDIO & VIDEO EQUIPMENT [3651]
- **IRS NUMBER:** 854185335
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40271
- **FILM NUMBER:** 23675408

**BUSINESS ADDRESS:**
- **STREET 1:** 39 TESLA
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92618
- **BUSINESS PHONE:** 949-945-8260

**MAIL ADDRESS:**
- **STREET 1:** 39 TESLA
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92618

?xml version="1.0" ? vzio-20230223

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934**

Date of Report (date of earliest event reported): February 23, 2023

**VIZIO HOLDING CORP.** 

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-40271** | **85-4185335** |
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) |
| | **39 Tesla**<br>**Irvine, CA 92618** | |
| (Address of Principal Executive Offices and Zip Code) | (Address of Principal Executive Offices and Zip Code) | (Address of Principal Executive Offices and Zip Code) |

---

**(949) 428-2525** 

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Class A common stock, par value $0.0001 per share | VZIO | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

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**Item 5.02&nbsp;&nbsp;&nbsp;&nbsp;Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

On February 23, 2023, the Board of Directors (the "<u>Board</u>") of VIZIO Holding Corp. ("<u>VIZIO</u>") increased the size of the Board to six directors and appointed R. Michael (Mike) Mohan to serve as a member of the Board.

Mr. Mohan served as the President and Chief Operating Officer of Best Buy Co., Inc. ("<u>Best Buy</u>"), a leading provider of technology products, services and solutions, from June 2019 to July 2021. Prior to that, from February 2004 to June 2019, Mr. Mohan held various senior management-level roles at Best Buy, including serving as Chief Operating Officer, U.S. from September 2018 to June 2019, Senior Executive Vice President and Chief Merchandising and Marketing Officer from January 2017 to September 2018, and as Chief Merchandising Officer from January 2014 to December 2016. Prior to joining Best Buy in 2004, Mr. Mohan held leadership and merchandising roles at Good Guys and Future Shop (prior to its acquisition by Best Buy). Mr. Mohan has served on the boards of directors of Bloomin' Brands, Inc., a publicly traded hospitality industry company, since July 2017, and Petco Health and Wellness Company, Inc., a publicly traded retailer and provider of health and wellness products and services for pets, since March 2021. Mr. Mohan also serves on the board of directors of Jackson Family Wines, a privately-held wine company.

There are no arrangements or understandings between Mr. Mohan and any other person pursuant to which Mr. Mohan was appointed to serve on the Board. There are no family relationships between Mr. Mohan and any other director or executive officer of VIZIO, and there have been no transactions between Mr. Mohan and VIZIO in the last fiscal year, and none are currently proposed, that would require disclosure under Item 404(a) of Regulation S-K. In accordance with VIZIO's customary practice, VIZIO will enter into its standard form of indemnification agreement with Mr. Mohan, which agreement is filed as Exhibit 10.1 to VIZIO's Registration Statement on Form S-1 (File No. 333-253682) filed with the SEC on March 1, 2021.

In addition, on February 23, 2023, the Board adopted the Amended and Restated Outside Director Compensation Policy (the "<u>Director Compensation Policy</u>") to, among other things, (i) increase the annual cash retainer for Board service and service on certain committees, (ii) increase the value of the annual equity award granted to directors (the "<u>Annual Award</u>"), and (iii) provide for an initial award for newly-appointed directors (the "<u>Initial Award</u>") with a value equal to the Annual Award, prorated for the expected time such director is expected to serve from his or her appointment until the next annual meeting of VIZIO's stockholders. The foregoing does not purport to be a complete description of, and is qualified in its entirety by reference to, the full text of the Director Compensation Policy, which is filed as Exhibit 99.1 and is incorporated herein by reference.

Pursuant to the Director Compensation Policy, Mr. Mohan received an Initial Award on the date of his appointment and will receive an annual retainer of $60,000 for service on the Board (in each case, prorated for the portion of the year in which he serves as a member of the Board).

VIZIO announced the appointment in a press release, which is attached as Exhibit 99.2.

 **Item 9.01 &nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.**

(d) Exhibits.

---

| | |
|:---|:---|
| **<u>Exhibit Number</u>** | **<u>Description</u>** |
| 99.1 | <u>[Amended and Restated Outside Director Compensation Policy, dated February 23, 2023](exhibit991aroutsidedirecto.htm)</u> |
| 99.2 | <u>[Press Release, dated February 27, 2023](exhibit992mikemohanjoinsth.htm)</u> |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |

---

------

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on behalf of the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | | **VIZIO HOLDING CORP.** |
| Date: February 27, 2023 | By: | /s/ Jerry Huang |
|  |  | Jerry Huang |
|  |  | General Counsel |

---

## Exhibit 99.1

**VIZIO HOLDING CORP.**

**AMENDED AND RESTATED OUTSIDE DIRECTOR COMPENSATION POLICY**

Amended and Restated by the Company's Board of Directors on February 23, 2023

VIZIO Holding Corp. (the "**Company**") believes that providing cash and equity compensation to members of its Board of Directors (the "**Board**," and members of the Board, the "**Directors**") represents an effective tool to attract, retain and reward Directors who are not Employees (the "**Outside Directors**"). This Amended and Restated Outside Director Compensation Policy (the "**Policy**") formalizes the Company's policy regarding cash compensation and grants of equity awards to its Outside Directors. Unless defined in this Policy, capitalized terms used in this Policy will have the meaning given to such terms in the Company's 2017 Incentive Award Plan, as amended from time to time (the "**Plan**"), or if the Plan is no longer in place, the meaning given such term or any similar term in the equity plan then in place. Each Outside Director will be solely responsible for any tax obligations incurred by such Outside Director as a result of the equity and cash payments such Outside Director receives under this Policy.

This Policy became effective as of the effective date of the registration statement in connection with the initial public offering of the Company's securities (the "**Registration Statement**"). This Policy subsequently was amended and restated on February 23, 2023 (the "**Restatement Date**").

&nbsp;&nbsp;&nbsp;&nbsp;**1. <u>C</u><u>ASH</u> <u>C</u><u>OMPENSATION</u>**

*Annual Cash Retainer*

Each Outside Director will be paid an annual cash retainer of $60,000. There are no per-meeting attendance fees for attending Board meetings.

*Committee Annual Cash Retainer*

As of the Restatement Date, each Outside Director who serves as the chair or a member of a committee of the Board will be eligible to earn additional annual retainers (paid quarterly in arrears on a prorated basis) as follows:

---

| | |
|:---|:---|
| Chair of Audit Committee: | $25000.00 |
| Member of Audit Committee: | $12500.00 |
| Chair of Compensation Committee: | $20000.00 |
| Member of Compensation Committee: | $10000.00 |
| Chair of Nominating and Governance Committee: | $13000.00 |
| Member of Nominating and Governance Committee: | $6500.00 |

---

![image_2.jpg](image_2.jpg)

For clarity, each Outside Director who serves as the chair of a committee will receive only the annual retainer as the chair of the committee and will not also receive the annual retainer as a member of the committee.

*Payment*

Each annual cash retainer under this Policy will be paid quarterly in arrears on a prorated basis to each Outside Director who has served in the relevant capacity at any point during the fiscal quarter, and such payment shall be made no later than 30 days following the end of such fiscal quarter. For purposes of clarification, an Outside Director who has served as an Outside Director and/or as a member of an applicable committee (or chair thereof) during only a portion of the relevant Company fiscal quarter will receive a pro-rated payment of the quarterly payment of the applicable annual cash retainer(s), calculated based on the number of days during such fiscal quarter such Outside Director has served in the relevant capacities.

&nbsp;&nbsp;&nbsp;&nbsp;**2. <u>E</u><u>QUITY</u> <u>C</u><u>OMPENSATION</u>**

Outside Directors will be eligible to receive all types of Awards (except Incentive Stock Options) under the Plan (or the applicable equity plan in place at the time of grant), including discretionary Awards not covered under this Policy. All grants of Awards to Outside Directors pursuant to this Section 2 will be automatic and

------

nondiscretionary, except as otherwise provided herein, and will be made in accordance with the following provisions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>No Discretion</u>. No person will have any discretion to select which Outside Directors will be granted any Awards under this Policy or to determine the number of Shares to be covered by such Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Annual Award</u>. On the date of each annual meeting of the Company's stockholders following the Restatement Date (each, an "**Annual Meeting**"), each Outside Director will be automatically granted an award of restricted stock units (an "**Annual Award**") covering a number of Shares having a Value of $200,000, rounded up to the nearest whole Share.

Subject to Section 3, each Annual Award will vest as to 25% of the Shares subject to the Annual Award every 3 months after the date of grant of the Annual Award on the same day of the month as the date of grant of the Annual Award (or if there is no corresponding day in a given month, then on the last day of such month), in each case so long as the Outside Director has not had a Termination of Service prior to the applicable vesting date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>New Director Award</u>. If, on or following the Restatement Date, an individual is newly elected or appointed as an Outside Director at any time other than the date of an Annual Meeting, then on the first Trading Day (as defined below) on or after such election or appointment, such Outside Director will be automatically granted an award of restricted stock units (a "**New Director Award**") covering a number of Shares having a Value equal to the product obtained by multiplying (x) $200,000 by (y) the fraction obtained by dividing (A) the then-expected number of days during the period beginning on the date of such election or appointment and ending on the day immediately preceding the then-expected date of the next Annual Meeting by (B) the number of days during the period beginning on the date of the previous Annual Meeting and ending on the day immediately preceding the then-expected date of the next Annual Meeting, rounded up to the nearest whole Share. For the avoidance of doubt, if a Director who is an Employee becomes an Outside Director due to termination of the individual's status as an Employee, the Outside Director will not be entitled to receive a New Director Award. For these purposes, "**Trading Day**" means a day that the primary stock exchange, national market system, or other trading platform, as applicable, upon which the Common Stock is listed (or otherwise trades regularly) is open for trading.

Subject to Section 3, each New Director Award will vest as to 25% of the Shares subject to the New Director Award every 3 months after the date of grant of the New Director Award on the same day of the month as the date of grant of the New Director Award (or if there is no corresponding day in a given month, then on the last day of such month), in each case so long as the Outside Director has not had a Termination of Service prior to the applicable vesting date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Value</u>. For purposes of this Policy, "**Value**" means the grant date fair value (determined in accordance with U.S. generally accepted accounting principles), or such other methodology the Board may determine prior to the grant of the Annual Award or New Director Award becoming effective.

&nbsp;&nbsp;&nbsp;&nbsp;**3. <u>C</u><u>HANGE</u> <u>IN</u> <u>C</u><u>ONTROL</u>**

In the event of a Change in Control, each Outside Director will fully vest in and have the right to exercise his or her outstanding equity awards and, with respect to equity awards with performance-based vesting, unless specifically provided otherwise under the applicable award agreement, a Company policy applicable to the Outside Director, or other written agreement between the Outside Director and the Company, all performance goals or other vesting criteria will be deemed achieved at 100% of target levels and all other terms and conditions met.

![image_2.jpg](image_2.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;**4. <u>A</u><u>NNUAL</u> <u>C</u><u>OMPENSATION</u> <u>L</u><u>IMIT</u>**

No Outside Director may be paid, issued or granted, in any fiscal year of the Company, cash compensation and equity awards (including Awards) with an aggregate value greater than $500,000 (with the value of each equity award based on its grant date fair value (determined in accordance with U.S. generally accepted accounting principles)). Any cash compensation paid or equity awards granted to an individual for his or her services as an Employee, or for his or her services as a Consultant (other than as an Outside Director), will not count for purposes of the limitation under this Section 4.

&nbsp;&nbsp;&nbsp;&nbsp;**5. <u>T</u><u>RAVEL</u> <u>E</u><u>XPENSES</u>**

Each Outside Director's reasonable, customary, and documented travel expenses to Board or Board committee meetings or related to his or her service on the Board or Board committee will be reimbursed by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;**6. <u>A</u><u>DDITIONAL</u> <u>P</u><u>ROVISIONS</u>**

All provisions of the Plan not inconsistent with this Policy will apply to Awards granted to Outside Directors.

------

&nbsp;&nbsp;&nbsp;&nbsp;**7. <u>S</u><u>ECTION</u> <u>409A</u>**

In no event will cash compensation or expense reimbursement payments under this Policy be paid after the later of (i) the 15th day of the 3rd month following the end of the Company's fiscal year in which the compensation is earned or expenses are incurred, as applicable, or (ii) the 15th day of the 3rd month following the end of the calendar year in which the compensation is earned or expenses are incurred, as applicable, in compliance with the "short-term deferral" exception under Section 409A of the Internal Revenue Code of 1986, as amended, and the final regulations and guidance thereunder, as may be amended from time to time (together, "**Section 409A**"). It is the intent of this Policy that this Policy and all payments hereunder be exempt from or otherwise comply with the requirements of Section 409A so that none of the compensation to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to be so exempt or comply. In no event will the Company have any liability or obligation to reimburse, indemnify, or hold harmless an Outside Director (or any other person) for any taxes or costs that may be imposed on or incurred by an Outside Director (or any other person) as a result of Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;**8. <u>S</u><u>TOCKHOLDER</u> <u>A</u><u>PPROVAL</u>**

The Company's Outside Director Compensation Policy, which this Policy amends and restates, was approved by the Company's stockholders prior to its effective date. Unless otherwise required by applicable law the Policy shall not be subject to additional approval by the Company's stockholders, including, for the avoidance of doubt, as a result of or in connection with an action taken with respect to this Policy as contemplated in Section 9.

![image_2.jpg](image_2.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;**9. <u>R</u><u>EVISIONS</u>**

The Board may amend, alter, suspend, or terminate this Policy at any time and for any reason. No amendment, alteration, suspension, or termination of this Policy will materially impair the rights of an Outside Director with respect to compensation that already has been paid or awarded, unless otherwise mutually agreed between the Outside Director and the Company. Termination of this Policy will not affect the Board's or the Compensation Committee's ability to exercise the powers granted to it under the Plan with respect to Awards granted under the Plan pursuant to this Policy prior to the date of such termination.

## Exhibit 99.2

**VIZIO Appoints Former Best Buy President and COO, Mike Mohan to Board of Directors** 

**IRVINE, CA** — **February 27, 2023** — **<u>VIZIO</u> (NYSE: VZIO)** announced today that R. Michael (Mike) Mohan, former President and COO of Best Buy Co., Inc., has been appointed to the company's board of directors.

Mohan is a seasoned retail leader who will bring great insights and experience to VIZIO. At Best Buy, he was responsible for all aspects of global operations, including sales, merchandising, marketing, supply chain management, services and new business initiatives across more than 1,400 stores and online channels worldwide.

"As an accomplished business leader and experienced board member, we are excited to welcome Mike to VIZIO's board of directors," said VIZIO's Chairman of the Board, Founder and CEO William Wang. "His deep understanding of the consumer electronics industry will be invaluable as we continue executing on our strategy to provide innovative entertainment technologies at the center of the connected home."

Mohan joined Best Buy in 2004 and served in a variety of leadership roles, including COO of its U.S. business, and Chief Merchandising and Marketing Officer. Through these roles, Mohan demonstrated his extensive retail industry expertise, management experience and digital marketing acumen. He also serves on the Board of Directors of Bloomin' Brands, Inc., Petco, Jackson Family Wine and is a former national trustee for the Boys & Girls Club of America.

"VIZIO is in the midst of tremendous growth with an entrepreneurial culture focused on innovation," said Mike Mohan. "It's an honor to join VIZIO's board of directors and the team of talented business leaders dedicated to revolutionizing the future of entertainment for millions of consumers."

**About VIZIO**

Founded and headquartered in Orange County, California, our mission at VIZIO Holding Corp. (NYSE: VZIO) is to deliver immersive entertainment and compelling lifestyle enhancements that make our products the center of the connected home. We are driving the future of televisions through our integrated platform of cutting-edge Smart TVs and powerful operating system. We also offer a portfolio of innovative sound bars that deliver consumers an elevated audio experience. Our platform gives content providers more ways to distribute their content and advertisers more tools to connect with the right audience.

For more information, visit <u>VIZIO.com</u> and follow VIZIO on <u>Facebook</u>, <u>Twitter</u>, and <u>Instagram</u>.

**Press Contact for VIZIO:**

Melissa Hourigan

Fabric Media

720-608-1919

melissa@fabricmedia.net

Source: VIZIO Holding Corp

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