Form 4: MicroVision Director Mark Spitzer Acquires 82,406 Restricted Stock Units

Director Mark Spitzer acquired 82,406 restricted stock units (RSUs) of MicroVision, Inc. on June 5, 2024, which will vest in quarterly installments.

Summary

• On June 5, 2024, Mark Bradley Spitzer, a director of MicroVision, Inc., acquired 82,406 restricted stock units (RSUs).
• These RSUs convert into shares of common stock on a one-to-one basis upon vesting, without any payment required.
• The RSUs are scheduled to vest in four equal quarterly installments, completing on the earlier of the first anniversary of the grant date or the day before MicroVision's 2025 Annual Meeting of Shareholders, contingent upon Spitzer's continued service as a director.
• Spitzer has elected to defer receipt of the shares of common stock underlying the RSUs upon vesting.
• The vested shares will be delivered to Spitzer when he ceases to provide services to MicroVision or upon a change of control of the company.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard compensation practices and aligns director interests with shareholders. There are no immediate financial implications, but it indicates confidence in the company's future.

Positives

• The acquisition of RSUs by a director signals confidence in the company's future.

Future Outlook

The vesting of the RSUs is contingent upon the director's continued service and will result in the issuance of common stock, potentially impacting the company's capital structure in the future.

Industry Context

This is a standard practice for compensating and incentivizing company directors, aligning their interests with those of the shareholders.

Comparison to Industry Standards

• Granting restricted stock units to directors is a common practice among publicly traded companies to align their interests with shareholders.
• Companies like Microsoft and Apple also use stock-based compensation for their executives and directors.
• The vesting schedule of four equal quarterly installments is a typical arrangement, similar to those used by other tech companies.

Stakeholder Impact

• Shareholders may view this as a positive sign, indicating that the director is incentivized to improve the company's performance.
• Employees may see this as a standard compensation practice for directors.

Key Dates