UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 1.01 Entry into a Material Definitive Agreement.
On September 3, 2025, Vuzix Corporation (the “Company”) entered into an employment offer letter with Chris Parkinson, PhD., the newly appointed president of the Company’s Enterprise Solutions business unit. Pursuant to the employment offer letter, Dr. Parkinson will receive an annual base salary of $360,000 and will participate in the Company’s management bonus plan and Laddered Long-term Equity Incentive Plan. Mr. Parkinson will also receive 150,000 restricted stock awards (“RSAs”), which will vest in equal portions quarterly over 12 months and 1,000,000 performance stock units (“PSUs”), whose vestisng will be subject to the achievement of certain revenue and EBITDA targets of the Company’s Enterprise Solutions business unit by December 31, 2028.
In the event Dr. Parkinson is terminated from the Company without cause, he will receive 12 months’ severance.
In the event there is a Change of Control transaction of the Company, as defined under the Company’s 2023 Equity Incentive Plan, Dr. Parkinson’s unvested RSAs or PSUs will accelerate as per the terms of those awards...
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description |
| 10.1 # | Offer Letter between the Company and Dr. Chris Parkinson |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |
# Portions of this agreement have been omitted.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: September 8, 2025 | VUZIX CORPORATION | |
| By: | /s/ Grant Russell | |
| Grant Russell | ||
| Chief Financial Officer | ||