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MVIS:SubtractPriorYearEndFairValueOfEquityAwardGrantedInPriorYearsThatFailedToVestInApplicableFiscalYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0000065770 1 2025-01-01 2025-12-31 0000065770 2 2025-01-01 2025-12-31 0000065770 3 2025-01-01 2025-12-31 iso4217:USD iso4217:USD shares false 0000065770 PRE 14A MICROVISION, INC. true <table cellpadding="0" cellspacing="0" id="xdx_885_eecd--PvpTableTextBlock_zOrg1Yj7h2wa" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Pay vs Performance Disclosure"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year (1)</td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_48C_eecd--PeoTotalCompAmt_zVCJF8xNzEK3" style="border-bottom: Black 1pt solid; text-align: center">Summary Compensation Total for PEOs</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_481_eecd--PeoActuallyPaidCompAmt_zFxzXMP6e5Na" style="border-bottom: Black 1pt solid; text-align: center">Compensation Actually Paid to PEOs (2)</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_482_eecd--NonPeoNeoAvgTotalCompAmt_z2jvyK9pK12g" style="border-bottom: Black 1pt solid; text-align: center">Summary Compensation Table Total for Non-PEOs</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_486_eecd--NonPeoNeoAvgCompActuallyPaidAmt_zMW31p89fmQ8" style="border-bottom: Black 1pt solid; text-align: center">Compensation Actually Paid to Non-PEOs (2)</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_486_eecd--TotalShareholderRtnAmt_pp2d_zlC0E3PAVAhg" style="border-bottom: Black 1pt solid; text-align: center">MVIS Total Stockholder Return (3)</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_481_eecd--PeerGroupTotalShareholderRtnAmt_pp2d_zZExDpB2GVbg" style="border-bottom: Black 1pt solid; text-align: center">Peer Group Total Stockholder Return (3)</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_48D_eus-gaap--NetIncomeLoss_pn3n3_zbRyCYh4AzQ8" style="border-bottom: Black 1pt solid; text-align: center">Net Loss (in thousands) (4)</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_48C_eecd--CoSelectedMeasureAmt_pid_uUSDPShares_zkKg3KC7Grv" style="border-bottom: Black 1pt solid; text-align: center">Stock Price (5)</td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Value of Initial Fixed $100 Investment Based On:</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Company Selected Measure</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year (1)</td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Summary Compensation Total for PEOs</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Compensation Actually Paid to PEOs (2)</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Summary Compensation Table Total for Non-PEOs</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Compensation Actually Paid to Non-PEOs (2)</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">MVIS Total Stockholder Return (3)</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Peer Group Total Stockholder Return (3)</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Net Loss (in thousands) (4)</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Stock Price (5)</td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">(a)</td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(b)</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(c)</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(d)</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(e)</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(f)</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(g)</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(h)</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(i)</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr id="xdx_41D_20250101__20251231_zd11y5FS2KAh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 10%; text-align: center">2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">2,486,790</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">2,488,497</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">2,173,849</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">1,569,628</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">15.39</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">220.10</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">(94,981</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">0.83</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_416_20240101__20241231_z10XxA2tvpD5" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2024</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,524,977</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(30,023</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,067,804</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(489,143</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">181.95</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">192.74</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(96,915</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1.31</td><td style="text-align: left"> </td></tr> <tr id="xdx_410_20230101__20231231_zftUoOKvFOR5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">2023</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,726,817</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">832,417</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">603,388</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">350,830</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">369.44</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">146.11</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(82,842</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2.66</td><td style="text-align: left"> </td></tr> </table> 2486790 2488497 2173849 1569628 15.39 220.10

-94981000

0.83 6524977 -30023 1067804 -489143 181.95 192.74

-96915000

1.31 4726817 832417 603388 350830 369.44 146.11

-82842000

2.66 For 2025, the PEOs were Mr. DeVos from October through December and Mr. Sharma from January through September; the Non-PEOs were Ms. Markham for the entire year, Mr. Verma for all but the final two weeks of the year, and Mr. Biddiscombe from October through December. For 2024 and 2023, the PEO was Mr. Sharma and the Non-PEOs were Mr. Verma and Ms. Markham for the entire year. Mr. DeVos Mr. Sharma Mr. Sharma Mr. Sharma The Summary Compensation Table totals reported for the PEO and the average of the Non-PEOs for each year were subject to the following adjustments per Item 402(v)(2)(iii) of Regulation S-K to calculate “compensation actually paid”: the summary compensation table totals were decreased for amounts reported under the “Option Awards” and “Stock Awards” columns and increased/decreased for the inclusion of Rule 402(v) equity values, which reflect the aggregate of the following components, as applicable (i) the fair value as of the end of the listed fiscal year of unvested equity awards granted in that year; (ii) the change in fair value during the listed fiscal year of equity awards granted in prior years that remained outstanding and unvested at the end of the listed fiscal year; and (iii) the change in fair value during the listed fiscal year through the vesting date of equity awards granted in prior years that vested during the listed fiscal year, less the fair value at the end of the prior year of awards granted prior to the listed fiscal year that failed to meet applicable vesting conditions during the listed fiscal year. Equity values are calculated in accordance with FASB ASC Topic 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of the grant. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Description of Adjustment</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20251231_zpEuBT9W3mDl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20241231_zqceYDMivsHb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20230101__20231231_zBNqLkZUxIZd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eecd--PeoTotalCompAmt_ztIaKdZVO7X7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Summary Compensation Table Total Compensation for PEOs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,486,790</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">6,524,977</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,726,817</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eecd--AdjToCompAmt_hecd--IndividualAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--SubtractGrantDateFairValueOfOptionAwardsAndStockAwardsGrantedInTheApplicableFiscalYearMember_ziiEmoYO7Fzh" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Subtract grant date fair value of option awards and stock awards granted in the applicable fiscal year</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(743,910</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(5,983,750</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(4,245,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eecd--AdjToCompAmt_hecd--IndividualAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--AdjustForYearEndFairValueOfEquityAwardsGrantedInTheApplicableFiscalYearThatAreOutstandingAndUnvestedAsOfTheApplicableFiscalYearEndMember_zT9eeoS5JNVk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Adjust for year-end fair value of equity awards granted in the applicable fiscal year that are outstanding and unvested as of the applicable fiscal year end</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">745,616</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,128,750</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eecd--AdjToCompAmt_hecd--IndividualAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--AdjustForChangeInFairValueAtYearEndOfEquityAwardsGrantedInPriorYearsThatAreAndUnvestedAsOfTheApplicableFiscalYearMember_zrRcoPrO0Rpl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Adjust for change in fair value at year-end of equity awards granted in prior years that are outstanding and unvested as of the applicable fiscal year</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(3,213,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(414,400</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eecd--AdjToCompAmt_hecd--IndividualAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--AdjustForVestingDateFairValueOfEquityAwardsGrantedAndVestedInApplicableFiscalYearMember_zbLcLN1B5i1a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Adjust for vesting date fair value of equity awards granted and vested in applicable fiscal year</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">513,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">729,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eecd--AdjToCompAmt_hecd--IndividualAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--AdjustForChangeInFairValueOfEquityAwardsGrantedInPriorYearsThatVestedInTheApplicableFiscalYearMember_zsWTXpgfE2K4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Adjust for change in fair value of equity awards granted in prior years that vested in the applicable fiscal year</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eecd--AdjToCompAmt_hecd--IndividualAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--AdjustForChangeInFairValueOfEquityAwardsGrantedInPriorYearsThatVestedInTheApplicableFiscalYearMember_ztQlO2iFWKba" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Adjustment to Compensation Amount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eecd--PeoActuallyPaidCompAmt_zf3MsqNEsC3l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Compensation Actually Paid to PEOs</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,488,497</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(30,023</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">832,417</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eecd--NonPeoNeoAvgTotalCompAmt_zp6j0i5Gxuqa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Summary Compensation Table Total Compensation for Non-PEOs</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,173,849</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,067,804</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">603,388</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eecd--AdjToCompAmt_hecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--SubtractGrantDateFairValueOfOptionAwardsAndStockAwardsGrantedInTheApplicableFiscalYearMember_zFanj0oPAoCg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Subtract grant date fair value of option awards and stock awards granted in the applicable fiscal year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,671,245</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(657,938</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eecd--AdjToCompAmt_hecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--AdjustForYearEndFairValueOfEquityAwardsGrantedInApplicableFiscalYearThatAreOutstandingAndUnvestedAsOfApplicableFiscalYearEndMember_z6GDptYnZqFf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Add year-end fair value of equity awards granted in the applicable fiscal year that are outstanding and unvested as of the applicable fiscal year-end</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,003,338</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">783,544</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eecd--AdjToCompAmt_hecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--AdjustForYearOverYearChangeInFairValueOfEquityAwardsGrantedInPriorYearsThatAreOutstandingAndUnvestedAsOfApplicableFiscalYearMember_ztrGxD5DQrM1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Adjust for year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the applicable fiscal year</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">199,300</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,847,316</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(225,904</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eecd--AdjToCompAmt_hecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--AdjustForChangeInFairValueOfEquityAwardsGrantedInPriorYearsThatVestedInApplicableFiscalYearMember_zRIdGQVozwJ3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Adjust for change in fair value of equity awards granted in prior years that vested in the applicable fiscal year</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">212,438</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,346</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eecd--AdjToCompAmt_hecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--SubtractPriorYearEndFairValueOfEquityAwardGrantedInPriorYearsThatFailedToVestInApplicableFiscalYearMember_zajvs0AqdKbf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Subtract prior year-end fair value of equity award granted in prior years that failed to vest in the applicable fiscal year</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(135,614</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(47,675</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eecd--AdjToCompAmt_hecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--SubtractPriorYearEndFairValueOfEquityAwardGrantedInPriorYearsThatFailedToVestInApplicableFiscalYearMember_zYYT03cZrVXa" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Adjustment to Compensation Amount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(135,614</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(47,675</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eecd--NonPeoNeoAvgCompActuallyPaidAmt_zuuU55mDBe39" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Compensation Actually Paid to Non-PEOs</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,569,628</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(489,143</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">350,830</td><td style="text-align: left"> </td></tr> </table> 2486790 6524977 4726817 -743910 -5983750 -4245000 745616 2128750 -3213000 -414400 513000 729000 2488497 -30023 832417 2173849 1067804 603388 -3671245 -657938 3003338 783544 199300 -1847316 -225904 212438 3346 -135614 -47675 -135614 -47675 1569628 -489143 350830 An investment of $100 is assumed to have been made in our common stock as of December 31, 2020. We have selected the Dow Jones U.S. Electronic & Electrical Equipment Index (DJUSEE) as our peer group. An investment of $100 is assumed to have been made in the DJUSEE as of December 31, 2020 Stock price Performance Metrics <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 20%; text-align: left">Stock Price Targets</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 78%; text-align: justify">Served as performance objectives in our performance-equity-based PRSU program for executives through December 31, 2025</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Revenue</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">A factor in assessing market progress and critical to the company’s long-term sustainability</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Cash Operating Expenses</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">A key non-GAAP measure used by our Board and management to evaluate company performance and fiscal discipline</td></tr> </table> Stock Price Targets Revenue Cash Operating Expenses 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 2021 to 2025: <img alt="" src="formpre14a_002.jpg"/> <img alt="" src="formpre14a_003.jpg"/> <img alt="" src="formpre14a_004.jpg"/> <img alt="" src="formpre14a_005.jpg"/> The Summary Compensation Table totals reported for the PEO and the average of the Non-PEOs for each year were subject to the following adjustments per Item 402(v)(2)(iii) of Regulation S-K to calculate “compensation actually paid”: the summary compensation table totals were decreased for amounts reported under the “Option Awards” and “Stock Awards” columns and increased/decreased for the inclusion of Rule 402(v) equity values, which reflect the aggregate of the following components, as applicable (i) the fair value as of the end of the listed fiscal year of unvested equity awards granted in that year; (ii) the change in fair value during the listed fiscal year of equity awards granted in prior years that remained outstanding and unvested at the end of the listed fiscal year; and (iii) the change in fair value during the listed fiscal year through the vesting date of equity awards granted in prior years that vested during the listed fiscal year, less the fair value at the end of the prior year of awards granted prior to the listed fiscal year that failed to meet applicable vesting conditions during the listed fiscal year. Equity values are calculated in accordance with FASB ASC Topic 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of the grant. An investment of $100 is assumed to have been made in our common stock as of December 31, 2020. We have selected the Dow Jones U.S. Electronic & Electrical Equipment Index (DJUSEE) as our peer group. An investment of $100 is assumed to have been made in the DJUSEE as of December 31, 2020. The dollar amounts reported represent the amount of the net loss reflected in our audited financial statements of the applicable fiscal year. The stock prices reported here are the closing prices on the last trading day of the relevant fiscal year. Stock price was chosen from the following three most important financial performance measures used to link compensation actually paid to our PEO and other NEOs in 2025 to company performance: