Microvision (NASDAQ:MVIS) shareholders approved all five proposals presented at the company’s 2026 annual meeting, including the election of directors, authorization related to convertible notes, and amendments that allow the board to implement a reverse stock split.
The virtual meeting was chaired by Bob Carlile, chairman of the board, who called the meeting to order and introduced MicroVision’s executive officers and directors. Glen De Vos, the company’s chief executive officer, said the company would keep the meeting focused on annual meeting business, while noting that management remains focused on communicating its strategy to shareholders.
De Vos said the team is “aggressively working to deliver” on its objectives and said he expects to provide a more detailed business update during the company’s next quarterly earnings call.
Shareholders Elect Seven Directors
Drew Markham, MicroVision’s general counsel and secretary, said the board had fixed May 28, 2026, as the record date for shareholders entitled to vote. He also said a quorum was present, allowing the company to proceed with the formal business of the meeting.
Shareholders elected all seven board nominees to serve until the 2027 annual meeting. The directors elected were Simon Biddiscombe, Bob Carlile, Glen De Vos, Jeff Herbst, Laura Peterson, Peter Schabert and Jada Smith.
Carlile introduced the company’s independent directors during the meeting, including Herbst, Peterson, Schabert and Smith, and noted their respective committee roles. Representatives of Baker Tilly US, LLP, the company’s independent auditor, and Broadridge, appointed as inspector of election, were also present virtually.
Convertible Note Share Issuance Approved
Shareholders also approved the issuance of shares of MicroVision common stock pursuant to senior secured convertible notes issued to an institutional investor on February 23, 2026. Markham said the proposal received the affirmative vote of a majority of votes properly cast.
The company did not provide additional details during the meeting beyond those included in its proxy statement.
Reverse Stock Split Authorization Passes
Another key proposal approved by shareholders authorizes amendments to MicroVision’s certificate of incorporation that would allow the board to effect a reverse stock split at a ratio of not less than 1-for-5 and not more than 1-for-15.
Under the approved proposal, the board may determine the exact ratio and effective time of the reverse stock split, if any, within one year of the date of the 2026 annual meeting. The proposal also provides for a simultaneous reduction of authorized shares to 150 million.
Executive Pay and Auditor Ratification Approved
Shareholders approved, on a non-binding advisory basis, the compensation of the company’s named executive officers, commonly known as a “Say on Pay” vote. Markham said the proposal received more votes in favor than against.
Shareholders also ratified the appointment of Baker Tilly US, LLP as MicroVision’s independent registered public accounting firm for the 2026 fiscal year.
Markham said the preliminary results were based on proxy votes received before the meeting, and that any votes submitted during the meeting would be certified and included in the final inspector report. He said final voting results will be included in a Form 8-K filing with the Securities and Exchange Commission.
After the formal business was adjourned, Carlile thanked shareholders for their support. “I sincerely believe that the company is in the best strategic position it has been in the nine years I’ve been involved with the company,” he said. “It’s now up to the board and the management team to execute.”
About Microvision (NASDAQ:MVIS)
MicroVision, Inc (NASDAQ: MVIS) is a technology company specializing in laser scanning and sensing solutions. Founded in 1993 and headquartered in Redmond, Washington, MicroVision develops its proprietary PicoP® scanning technology, which integrates miniature lasers and microelectromechanical systems (MEMS) mirrors to create high-resolution projection displays and three-dimensional sensing systems. Over the years, the company has built a portfolio of patents and intellectual property focused on precision optics and laser-based signal processing.
At the core of MicroVision’s offerings is its display platform, which enables compact, energy-efficient projection for augmented reality (AR) headsets, head-up displays (HUDs) in automotive environments, and consumer electronics applications such as pico projectors.
