MicroVision, Inc. Files Amendment No. 1 to Form 10-K for Fiscal Year Ended 2025: Key Details for Investors

Key Points from the Filing

• MicroVision, Inc. (Ticker: MVIS) has filed Amendment No. 1 to its Form 10-K for the fiscal year ended December 31, 2025.
• This amendment provides required Part III information that was originally intended to be incorporated by reference from the 2026 annual proxy statement. The proxy statement will not be filed in time to allow such incorporation.
• This amendment updates only the cover page, Items 10-14 of Part III, and Item 15 of Part IV. No other information in the original Form 10-K, including financials in Parts I and II, has been modified or updated.
• As of June 30, 2025, the aggregate market value of common stock held by non-affiliates was approximately \$313.8 million, based on a closing price of \$1.14 per share.
• The number of shares outstanding as of April 15, 2026, was 322,124,742.
• No documents are incorporated by reference in this amendment.
• The company has included certifications required under Section 302 of the Sarbanes-Oxley Act of 2002, but no certifications under Section 906 as no financial statements are included in this amendment.

Detailed Shareholder-Impacting Information

Issuer Status and Exchange Information

• MicroVision is a smaller reporting company, listed on The Nasdaq Stock Market LLC under the symbol “MVIS”.
• The company is not a well-known seasoned issuer, is not a voluntary filer, and is not a shell company.
• The company has complied with all required filings during the prior 12 months and has submitted all Interactive Data Files as required.
• It is not an emerging growth company.
• No restatement or error correction to financial statements in this filing; thus, no recovery analysis of incentive-based compensation was required.

Explanatory Note: Reason for Amendment

MicroVision is filing this amendment because the information required by Part III was intended to be incorporated by reference from its 2026 proxy statement, which will not be filed within the time period required. This amendment updates only specific sections and does not refresh or change any other information from the original Form 10-K.

Board and Governance Updates

• Updated disclosures on directors, executive officers, and corporate governance, including key expertise and committee memberships.
• The Audit Committee consists of Messrs. Carlile and Herbst, and Ms. Smith. All are financially literate, and Carlile and Herbst are designated as Audit Committee Financial Experts.
• All Audit Committee members are independent, per Nasdaq and SEC standards.
• No material changes have been made to shareholder nomination procedures for director candidates since the 2025 proxy statement.
• Section 16(a) compliance was met by all insiders, except for one late Form 4 filing by Jada Smith relating to the sale of 20,113 shares.

Executive Compensation and Shareholder Value

• Comprehensive executive compensation disclosures, including detailed tables of salary, bonus, stock awards, incentive plan compensation, and other compensation for the CEO, current and former CFOs, and other key officers.
• For the fiscal year 2024, the CEO received total compensation of \$3,387,845.
• Detailed breakdowns of awards, vesting schedules, and outstanding option awards are provided for transparency.
• Pay-versus-performance disclosure: Information on the relationship between actual compensation paid and company performance (e.g., total shareholder return, net loss, stock price) for the last three fiscal years, as required under new SEC rules.
• For 2025, performance metrics used to link executive pay included stock price targets and revenue milestones.
• Compensation Committee risk assessment concluded that company policies do not encourage excessive risk-taking and are designed to promote long-term value creation.
• The company’s peer group for performance comparison is the Dow Jones U.S. Electronic & Electrical Equipment Index (DJUSEE).

Potential Price-Sensitive Information for Investors

• The amendment itself does not modify any financial results or make corrections to previously reported numbers, limiting the direct price sensitivity of this filing.
• However, the disclosure that the 2026 proxy statement will be delayed—and the need to file an amendment—may indicate internal reporting or governance process delays, which could be of concern to investors seeking timely information.
• All key directors and officers remain in place, and there are no announced changes to leadership that would directly impact share price.
• The company continues to emphasize performance metrics related to stock price and revenue for executive compensation, signaling a continued focus on shareholder value creation.
• Aggregate market value and shares outstanding updates provide clarity for valuation and dilution analysis.
• No significant compliance issues identified (all filings and data submissions are up to date, except for the single late Form 4).

Summary for Investors

MicroVision’s Amendment No. 1 to Form 10-K for 2025 is largely procedural, aimed at providing Part III information not timely incorporated by reference from the proxy statement. The amendment does not signal financial restatements or executive changes, but the delay in proxy filings and the need for this amendment may be worth monitoring for investors sensitive to corporate governance and reporting timeliness. Executive compensation remains closely tied to stock price and revenue performance, aligning management interests with shareholders. No new material events or corrections have been disclosed in this amendment.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult a qualified financial advisor before making investment decisions. The information contained herein is based on public filings by MicroVision, Inc. and does not reflect any non-public or forward-looking statements.

View MICROVISION, INC. Historical chart here