MicroVision Announces Inducement Grant Pursuant to Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

MicroVision (NASDAQ:MVIS) has announced the granting of 1.3 million restricted stock units (RSUs) to their newly appointed Chief Technology Officer, Glen W. DeVos, as part of his employment inducement package. The RSUs will vest over a four-year period, with 25% vesting annually on March 31 from 2026 through 2029, contingent upon DeVos's continued employment with the company. The grant, issued on April 2, 2025, falls under the Company's 2025 Inducement Equity Incentive Plan.

Positive

• Successful recruitment of new Chief Technology Officer strengthens executive team

Negative

• 1.3 million RSUs grant represents potential future dilution for shareholders

REDMOND, WA / ACCESS Newswire / April 2, 2025 / MicroVision, Inc. (NASDAQ:MVIS), a technology pioneer delivering advanced perception solutions in autonomy and mobility, today announced that on April 2, 2025, it granted 1.3 million restricted stock units to Glen W. DeVos, the Company's newly appointed Chief Technology Officer, as a material inducement to his employment. These restricted stock units, or RSUs, are scheduled to vest over a four-year period, with 25% vesting on each of March 31, 2026, 2027, 2028, and 2029, subject to his continued service to the Company on each vesting date. The RSUs are subject to the terms and conditions of the Company's 2025 Inducement Equity Incentive Plan.

About MicroVision

MicroVision drives global adoption of innovative perception solutions to make mobility and autonomy safer. Fueled by engineering excellence in Redmond, Washington and Hamburg, Germany, MicroVision develops and supplies an integrated solution built on its perception software stack, incorporating application software and processing data from differentiated sensor systems. MicroVision's proprietary technology solutions deliver enhanced safety for a variety of industrial applications, including robotics, automated warehouse, and agriculture, and the automotive industry accelerating advanced driver-assistance systems (ADAS) and autonomous driving, as well as for military applications. With deep roots in MEMS-based laser beam scanning technology that integrates MEMS, lasers, optics, hardware, algorithms and machine learning software, MicroVision has the expertise to deliver safe mobility at the speed of life.

For more information, visit the Company's website at www.microvision.com, on Facebook at www.facebook.com/microvisioninc, and LinkedIn at https://www.linkedin.com/company/microvision/.

MicroVision, MAVIN, MOVIA, and MOSAIK are trademarks of MicroVision, Inc. in the United States and other countries. All other trademarks are the properties of their respective owners.

Investor Relations Contact
Jeff Christensen
Darrow Associates Investor Relations
MVIS@darrowir.com

Media Contact
Marketing@MicroVision.com

SOURCE: MicroVision, Inc

View the original press release on ACCESS Newswire

FAQ

How many restricted stock units (RSUs) did MicroVision (MVIS) grant to their new CTO?

MicroVision granted 1.3 million restricted stock units to their new CTO Glen W. DeVos.

What is the vesting schedule for the MVIS RSUs granted to Glen DeVos?

The RSUs vest over four years, with 25% vesting annually on March 31 from 2026 through 2029.

When did MicroVision (MVIS) appoint Glen DeVos as CTO?

Glen DeVos was appointed as MicroVision's new CTO, with the RSU grant announced on April 2, 2025.

What conditions are attached to the MVIS RSU grant for their new CTO?

The RSUs are subject to DeVos's continued service with the company on each vesting date and the terms of the 2025 Inducement Equity Incentive Plan.