Form 4: MicroVision Director Mark Spitzer Acquires Shares Through RSU Vesting

Director Mark Spitzer acquired shares of MicroVision common stock through the vesting of restricted stock units (RSUs) on September 3, 2024.

Summary

• On September 3, 2024, Mark Spitzer, a director of MicroVision, Inc., acquired 20,113 shares of common stock due to the vesting of restricted stock units (RSUs).
• The RSUs vested on a unit-for-share basis without payment.
• Spitzer now beneficially owns 107,652 shares of common stock, including 65,869 vested RSUs that have been deferred.
• The vested shares will be delivered to Spitzer when he ceases to provide services to the Issuer or upon a change of control of the Issuer.
• A previous Form 4 filed on June 7, 2024, incorrectly reported the total RSUs granted on June 5, 2024, as 82,406 RSUs instead of the correct amount of 80,450 RSUs; the vesting reported herein was calculated based on the correct amount of 80,450 RSUs.
• The RSUs granted on June 5, 2024, are scheduled to vest in four equal quarterly installments until fully vested on the earlier of the first anniversary of the grant date or the day prior to the Issuer's 2025 Annual Meeting of Stockholders, provided that the reporting person continues to serve as a director through each vesting date.

Sentiment

Score: 6

Explanation: Neutral sentiment as it reflects a routine transaction (RSU vesting) and a correction of a previous filing. There's no indication of positive or negative implications for the company's performance.

Positives

• The vesting of RSUs indicates continued alignment of the director's interests with those of the shareholders.

Future Outlook

The RSUs granted on June 5, 2024, are scheduled to vest in four equal quarterly installments until fully vested on the earlier of the first anniversary of the grant date or the day prior to the Issuer's 2025 Annual Meeting of Stockholders, provided that the reporting person continues to serve as a director through each vesting date.

Industry Context

This is a standard SEC Form 4 filing, reflecting insider transactions. RSU grants and vesting are common forms of executive compensation in publicly traded companies, particularly in the technology sector.

Comparison to Industry Standards

• RSU grants are a typical component of compensation packages for directors and executives in publicly traded companies, especially in the tech industry.
• The vesting schedules, such as quarterly installments until the first anniversary of the grant date or the day prior to the Issuer's 2025 Annual Meeting of Stockholders, are also standard practice.
• Companies like Microsoft, Apple, and Amazon also utilize RSUs as part of their compensation strategy.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It reflects the director's ongoing investment in the company.

Key Dates