Vuzix (NASDAQ: VUZI) details equity-heavy deal for new unit chief

Rhea-AI Filing Summary

Vuzix Corporation entered into an employment offer letter with Chris Parkinson, PhD, who becomes president of its Enterprise Solutions business unit. The package includes an annual base salary of $360,000 plus eligibility for the management bonus plan and the Laddered Long-term Equity Incentive Plan.

Dr. Parkinson is granted 150,000 restricted stock awards that vest in equal quarterly installments over 12 months and 1,000,000 performance stock units that vest only if specified revenue and EBITDA targets for the Enterprise Solutions unit are achieved by December 31, 2028. If he is terminated without cause, he will receive 12 months of severance pay, and in a Change of Control, his unvested equity awards may accelerate under the terms of the 2023 Equity Incentive Plan.

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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) September 3, 2025

VUZIX CORPORATION

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

001-35955	04-3392453
(Commission File Number)	(IRS Employer Identification No.)

25 Hendrix Road, Suite A

West Henrietta, New York 14586

(Address of principal executive offices)(Zipcode)

(585) 359-5900

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

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:
Common Stock, par value $0.001		VUZI		Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

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. ¨

Item 1.01 Entry into a Material Definitive Agreement. 

On September 3, 2025, Vuzix Corporation (the “Company”) entered into an employment offer letter with Chris Parkinson, PhD., the newly appointed president of the Company’s Enterprise Solutions business unit. Pursuant to the employment offer letter, Dr. Parkinson will receive an annual base salary of $360,000 and will participate in the Company’s management bonus plan and Laddered Long-term Equity Incentive Plan. Mr. Parkinson will also receive 150,000 restricted stock awards (“RSAs”), which will vest in equal portions quarterly over 12 months and 1,000,000 performance stock units (“PSUs”), whose vestisng will be subject to the achievement of certain revenue and EBITDA targets of the Company’s Enterprise Solutions business unit by December 31, 2028.

In the event Dr. Parkinson is terminated from the Company without cause, he will receive 12 months’ severance.

In the event there is a Change of Control transaction of the Company, as defined under the Company’s 2023 Equity Incentive Plan, Dr. Parkinson’s unvested RSAs or PSUs will accelerate as per the terms of those awards...

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
10.1 #	Offer Letter between the Company and Dr. Chris Parkinson
104	Cover Page Interactive Data File (formatted as Inline XBRL)

 # Portions of this agreement have been omitted.

SIGNATURES

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

Date: September 8, 2025	VUZIX CORPORATION
	By:	/s/ Grant Russell
		Grant Russell
		Chief Financial Officer

FAQ

What executive role did Vuzix (VUZI) create for Chris Parkinson?

Vuzix appointed Chris Parkinson, PhD, as president of its Enterprise Solutions business unit under a new employment offer letter dated September 3, 2025.

What is Chris Parkinson’s base salary at Vuzix (VUZI)?

Under the offer letter, Chris Parkinson will receive an annual base salary of $360,000 as president of Vuzix’s Enterprise Solutions business unit.

What equity awards is Chris Parkinson receiving from Vuzix (VUZI)?

Chris Parkinson will receive 150,000 restricted stock awards vesting quarterly over 12 months and 1,000,000 performance stock units tied to revenue and EBITDA targets.

What performance conditions apply to Chris Parkinson’s PSUs at Vuzix (VUZI)?

The 1,000,000 performance stock units will vest only if certain revenue and EBITDA targets for Vuzix’s Enterprise Solutions business unit are achieved by December 31, 2028.

What severance protection does Chris Parkinson have at Vuzix (VUZI)?

If Chris Parkinson is terminated without cause, he is entitled to 12 months’ severance under the employment offer letter.

How are Chris Parkinson’s Vuzix equity awards treated in a Change of Control?

In a Change of Control of Vuzix, Dr. Parkinson’s unvested RSAs and PSUs will accelerate in accordance with the terms of those awards under the 2023 Equity Incentive Plan.