Grant Russell - Jan 2, 2025 Form 4/A - Amendment Insider Report for Vuzix Corp (VUZI)

Role
CFO, Director
Signature
/s/ Grant Russell
Stock symbol
VUZI
Transactions as of
Jan 2, 2025
Transactions value $
$0
Form type
4/A - Amendment
Date filed
1/8/2025, 04:34 PM
Date Of Original Report
Jan 6, 2025
Previous filing
Jul 2, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction VUZI Restricted Stock Unit Award $0 +118K $0.00 118K Jan 2, 2025 Common Stock 118K Direct F1, F2
transaction VUZI Options (Right to Buy) Other $0 -1.63M -92.86% $0.00 125K Jan 2, 2025 Common Stock 1.75M $19.00 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit ("RSU"s) represents the contingent right to receive one share of common stock.
F2 The RSUs and cancellation of the unvested options are subject to shareholder approval to be obtained at the Company's 2025 shareholder meeting. Upon and subject to such shareholder approval, the grant of the RSUs will be effective and the unvested options issued to the Reporting Person on March 17, 2021 will simultaneously terminate. Subject to the foregoing, 50% (59,105) of the RSUs will vest in 3 years from the date of grant, and the remaining 50% (59,105) will vest solely upon achievement of certain performance results goals and not simply the passage of time. This remaining 50% may increase to up to 125% of such amount (73,881 RSUs) subject to achievement of certain results.
F3 125,000 options vested immediately, and the remaining 1,625,000 options were to vest solely upon achievement of certain market capitalization and operating results goals and not simply the passage of time. As set forth in footnote (2) above, the unvested options will terminate subject to and upon shareholder approval.