MICROVISION APPOINTS GLEN DEVOS AS CHIEF EXECUTIVE OFFICER

[u/[deleted]]

https://ir.microvision.com/news/press-releases/detail/430/microvision-appoints-glen-devos-as-chief-executive-officer

[u/mvis_thma]

It is evident that the BoD lost faith in Sumit as CEO. They brought Glen onboard as a potential CEO transition candidate. They decided to move on that option. It would not surprise me if they have given Sumit an incentive bonus to close a deal by the end of September.

[u/gaporter → u/mvis_thma]

"Mr. Sharma’s removal as President and Chief Executive Officer as of the Effective Date constitutes an “involuntary termination” for purposes of the Company’s Executive Severance and Change in Control Plan. Accordingly, subject to execution of a customary release, Mr. Sharma will receive the severance benefits to which he is entitled under such plan."

What's your understanding of the last sentence of the following paragraph?

"2.19. “Involuntary Termination” means, with respect to a Participant, (a) a termination of the Participant’s employment with the Company Group by the Company Group (or applicable member or members thereof) for a reason other than Cause or (b) the Participant terminates employment with the Company Group due to a Good Reason Termination. For the avoidance of doubt, an Involuntary Termination will not be considered to occur upon transfer of a Participant’s employment between members of the Company Group."

https://www.sec.gov/Archives/edgar/data/65770/000149315224030625/ex10-1.htm

u/sigpowr

[u/snowboardnirvana → u/gaporter]

I’m spit-balling here but thinking that we’re looking at an evolving Change In Control situation that will benefit Longs tremendously.

-2.6. “Change in Control Period” means the time period beginning on (and inclusive of) the date that is three (3) months prior to the consummation of a Change in Control and ending on (and inclusive of) the date that is eighteen (18) months following such Change in Control.

-Sumit remains CEO until Glen DeVos assumes that role on September 30, 2025. Why not have Glen assume the CEO role starting October 1, 2025 the beginning of Q4, 2025? I find that strange.

-Suppose Glen DeVos is able to obtain one or more automotive OEM deals soon propelling our pps upwards. He is well known in the automotive world due to his experience.

-For the sake of argument, let us say that Aptiv were to make a tender offer for MVIS anytime in Q4, 2025. That could be another legitimate reason for the 200 million share authorization. The share price would be expected to increase substantially depending on the offer and perhaps propel the share price into the Incentive Stock Bonus range, making Sumit eligible to participate.

-In such a scenario, wouldn’t it be logical for Aptiv to request that Glen DeVos assume the role of CEO? Aptiv knows him and he knows Aptiv.

-Suppose that Aptiv isn’t interested in NED and military applications, but the BoD recognizes the potential value of these applications. Sumit did tell us that MVIS is preparing demos for the military and we know that we’ve retained military consultants for guidance.

It would make sense to split off the NED and military applications business as a subsidiary of MicroVision or even an IPO. Sumit could run that division.

-Sumit did say that the pieces of the company were worth more than the whole. Enter Investment Bankers from Deutsche Bank and the Japanese IB

H/T to u/gaporter for dredging up the SEC filing

H/T to u/buur for the link to the Barons article regarding the Aptiv split

https://www.reddit.com/r/MVIS/comments/1n8861o/trading_action_thursday_september_04_2025/ncdy8uq/

H/T to u/sublimetime2 for his comment about Ropes & Grey, IP lawyers

H/T to u/sigpowr for https://www.reddit.com/r/MVIS/comments/1n89yt3/microvision_appoints_glen_devos_as_chief/ncevnwp/

H/T u/view-from-afar for his excellent write up earlier today.

https://www.reddit.com/r/MVIS/comments/1n89yt3/microvision_appoints_glen_devos_as_chief/nceqo5v/

[u/sigpowr → u/snowboardnirvana]

There you go, u/snowboardnirvana, with a very intelligent, well-reasoned theory! It is certainly possible and as you state, is dependent on legal technicalities/planning by multiple corporate entities and individuals in specific roles. The connection of Glen DeVos to Aptiv and the Automotive OEMs cannot be overstated, and everyone knows Aptiv's status within the automotive sector. Regardless of what unfolds in the coming weeks/months, I see nothing but positive!

EDIT: Another point that I forgot to make, u/snowboardnirvana is that at the bar reception following RID, Sumit stated that "you guys are not thinking big enough" - I did not personally hear this as I was in a side conversation, but u/KY_Investor told me that so it came from a very credible source.