Sumit Sharma - Apr 8, 2024 Form 4 Insider Report for MICROVISION, INC. (MVIS)

Signature
/s/ Elizabeth Mandle, attorney-in-fact for Sumit Sharma
Stock symbol
MVIS
Transactions as of
Apr 8, 2024
Transactions value $
-$205,635
Form type
4
Date filed
4/10/2024, 05:17 PM
Previous filing
Nov 14, 2023
Next filing
Jul 25, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MVIS Common Stock Award $0 +300K +41.44% $0.00 1.02M Apr 8, 2024 Direct F1, F3
transaction MVIS Common Stock Tax liability -$206K -126K -12.26% $1.64 898K Apr 10, 2024 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Pursuant to employment agreement dated April 8, 2021, 300,000 shares were issued upon the automatic grant of fully vested RSUs in accordance with the terms of the agreement with no discretion exercised by the Reporting Person. As disclosed in the Form 8-K filed on April 8, 2024, the term of the employment agreement was extended until the new employment agreement currently being negotiated is executed by the parties.
F2 Represents a nondiscretionary sell-to-cover transaction completed by the Issuer in accordance with the terms of the award agreement and the Reporting Person's previously entered into irrevocable tax withholding election.
F3 Due to an administrative error, Column 5 of the Reporting Person's Form 4 ownership reports filed on March 15, 2023, April 11, 2023 and November 14, 2023, each incorrectly stated the Reporting Person's resulting beneficial ownership. The reported beneficial ownership amounts did not reflect the Reporting Person's transfer, made prior to the filing of the March 15, 2023 Form 4, of 352,362 shares pursuant to a domestic relations order. As previously disclosed in the Issuer's Proxy Statement filed April 5, 2023, the Reporting Person no longer reports as beneficially owned any securities owned by his former spouse. Pursuant to the same order, the Reporting Person also transferred stock options for a total of 187,500 shares. As corrected, Column 5, of the Form 4s filed on March 15, 2023, April 11, 2023 and November 14, 2023 should have reported 489,342 shares, 789,342 shares and 713,831 shares (in the two rows of Table I), and 723,984 shares, respectively.