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2025-09-03
2025-09-03
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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)) |
| |
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| ¨ |
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 |
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|
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By: |
/s/ Grant Russell |
| |
|
Grant Russell |
| |
|
Chief Financial Officer |
