0001910139
2023-01-01
2023-12-30
0001910139
2021-12-26
2022-12-31
iso4217:USD
Mobileye Global Inc.
<div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
<span style="letter-spacing:0.2pt;">The table below is required to include, for 2023, “compensation actually paid” to the CEO and the average compensation actually paid for non-CEO named executive officers. Compensation actually paid represents a calculation of compensation that differs significantly from the 2023 summary compensation table calculation of compensation, as well as the way in which the Company views annual compensation decisions, as discussed in the Compensation Discussion and Analysis section of this proxy statement. The below table also provides information on the Company’s cumulative TSR, the cumulative TSR of our peer group and net income attributable to the Company. The Company does not use any financial performance measures to link executive compensation actually paid to Company performance, and as permitted by the SEC, is not required to disclose either a “company-selected measure” or such company-selected measure’s relationship to executive compensation actually paid. </span>
</div>
<table style="width:456pt;height:115pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;"> <tr style="line-height:9pt;height:36.25pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;"> <td rowspan="2" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:77.52pt;text-align:left;"> <div style="white-space:nowrap; line-height:9pt; padding-bottom:0.333333333333333pt;"> <span style="letter-spacing:-0.16pt;">Year </span> </div> </td> <td rowspan="2" style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;"></td> <td rowspan="2" style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;"></td> <td colspan="4" rowspan="2" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;"> <div style="text-align:center; line-height:9pt; padding-bottom:0.333333333333333pt;"> <span style="letter-spacing:-0.16pt;">Summary <br/> Compensation <br/> Table Total for <br/> CEO</span><span style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(1)</span> </div> </td> <td rowspan="2" style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;"></td> <td rowspan="2" style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;"></td> <td colspan="4" rowspan="2" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;"> <div style="text-align:center; line-height:9pt; padding-bottom:0.333333333333333pt;"> <span style="letter-spacing:-0.16pt;">“Compensation <br/> Actually <br/> Paid” to <br/> CEO</span><span style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(3)</span> </div> </td> <td rowspan="2" style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;"></td> <td rowspan="2" style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;"></td> <td colspan="4" rowspan="2" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;"> <div style="text-align:center; line-height:9pt; padding-bottom:0.333333333333333pt;"> <span style="letter-spacing:-0.16pt;">Average <br/> Summary <br/> Compensation <br/> Table Total for <br/> Non-CEO <br/> NEOs</span><span style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(2)</span> </div> </td> <td rowspan="2" style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;"></td> <td rowspan="2" style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;"></td> <td colspan="4" rowspan="2" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;"> <div style="text-align:center; line-height:9pt; padding-bottom:0.333333333333333pt;"> <span style="letter-spacing:-0.16pt;">Average <br/> “Compensation <br/> Actually Paid” to <br/> Non-CEO NEOs</span><span style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(3)</span> </div> </td> <td rowspan="2" style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;"></td> <td colspan="10" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:0pt;"> <div style="text-align:center;"> <span style="letter-spacing:-0.16pt;">Value of Initial <br/> Fixed $100 <br/> Investment Based <br/> On: </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;"></td> <td rowspan="2" style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;"></td> <td colspan="4" rowspan="2" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;"> <div style="text-align:center; line-height:9pt; padding-bottom:0.333333333333333pt;"> <span style="letter-spacing:-0.16pt;">Net <br/> Income <br/> (Loss) <br/> (millions) </span> </div> </td> <td rowspan="2" style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;"></td> </tr> <tr style="line-height:9pt;height:49.5pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;"> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;"> <div style="text-align:center;"> <span style="letter-spacing:-0.16pt;">Total <br/> TSR</span><span style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(4)</span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;"> <div style="text-align:center;"> <span style="letter-spacing:-0.16pt;">PHLX <br/> Semiconductor <br/> Sector Index <br/> (SOX) Total <br/> TSR </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:3.5pt;"></td> </tr> <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:3.25pt 0pt 0.5pt 0pt; width:77.52pt;text-align:left;"> <div style="white-space:nowrap;"> <span style="letter-spacing:0.2pt;">2023 </span> </div> </td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td> <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">15,074,962</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt;padding-left:0.460000000000001pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td> <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">86,758,223</td> <td style="padding:0pt;padding-left:0.460000000000001pt;width:0pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt;padding-left:2.155pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td> <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">3,254,550</td> <td style="padding:0pt;padding-left:2.155pt;width:0pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt;padding-left:9.625pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td> <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">8,063,657</td> <td style="padding:0pt;padding-left:9.625pt;width:0pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td> <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">149.53</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt;padding-left:8.35pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td> <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">175.44</td> <td style="padding:0pt;padding-left:8.35pt;width:0pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt;padding-left:8.955pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 0.5pt 0pt; min-width:9.75pt; text-align:right; white-space:nowrap;">(27<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:8.955pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:3.5pt 0pt 0.5pt 0pt; width:77.52pt;text-align:left;"> <div style="white-space:nowrap;"> <span style="letter-spacing:0.2pt;">2022 </span> </div> </td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td> <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">45,125,920</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt;padding-left:0.460000000000001pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td> <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:34.5pt; text-align:right; white-space:nowrap;">74,718,861</td> <td style="padding:0pt;padding-left:0.460000000000001pt;width:0pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt;padding-left:2.155pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td> <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">4,760,015</td> <td style="padding:0pt;padding-left:2.155pt;width:0pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt;padding-left:9.625pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td> <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">8,403,979<span style="position:absolute;"><span style=" position:relative; bottom:3.25pt;font-size:6.5pt;">(5)</span> </span></td> <td style="padding:0pt;padding-left:9.625pt;width:0pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td> <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">121.02</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt;padding-left:8.35pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td> <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">106.65</td> <td style="padding:0pt;padding-left:8.35pt;width:0pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt; width:3.5pt;"></td> <td style="padding:0pt;padding-left:8.955pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 0.5pt 0pt; min-width:9.75pt; text-align:right; white-space:nowrap;">(82<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:8.955pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> </table><div style="width:456pt;">
<div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; "></div>
</div>
<div style=" float:left; margin-top:9.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;"> <span style="letter-spacing:0.2pt;">(1)</span> <br/> </div>
<div style=" margin-top:9.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;"> <span style="letter-spacing:0.2pt;">Prof. Amnon Shashua, in his capacity as CEO, is the Company’s principal executive officer for 2023. Compensation for our CEO reflects the amounts reported in the summary compensation table. </span> </div>
<div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;"></div>
<div style=" float:left; line-height:12pt; margin-top:5.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
<span style="letter-spacing:0.2pt;">(2)</span>
<br/>
</div>
<div style=" margin-top:5.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
<span style="letter-spacing:0.2pt;">The remaining non-CEO named executive officers for 2023 are: Moran Shemesh Rojansky, Chief Financial Officer; Prof. Shai Shalev-Shwartz, Chief Technology Officer; Dr. Gaby Hayon, Executive Vice President, Research & Development; Nimrod Nehushtan Executive Vice President, Business Development & Strategy and Co-Manager REM; and Anat Heller, former Chief Financial Officer and currently Financial Consultant. Compensation for our non-CEO named executive officers reflects the average of amounts reported in the summary compensation table. </span>
</div>
<div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;"></div>
<div style=" float:left; line-height:12pt; margin-top:5.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
<span style="letter-spacing:0.2pt;">(3)</span>
<br/>
</div>
<div style=" margin-top:5.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
<span style="letter-spacing:0.2pt;">Reflects the value of equity awards (RSUs) calculated in accordance with the SEC methodology for determining “compensation actually paid” for 2023. Pursuant to SEC rules, the PvP Table includes the change in fair value of multiple outstanding unvested equity awards for each year shown. </span>
</div>
<div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;"></div>
<div style=" float:left; line-height:12pt; margin-top:5.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;"> <span style="letter-spacing:0.2pt;">(4)</span> <br/> </div>
<div style=" margin-top:5.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
<span style="letter-spacing:0.2pt;">TSR represents cumulative TSR for the period commencing on October 26, 2022 until December 30, 2023. For the Peer Group, the TSR is a weighted peer group TSR. </span>
</div>
<div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;"></div>
<div style=" float:left; line-height:12pt; margin-top:5.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
<span style="letter-spacing:0.2pt;">(5)</span>
<br/>
</div>
<div style=" margin-top:5.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
<span style="letter-spacing:0.2pt;">In September 2023, the SEC issued a response to CD&I Question 128D.14, which notes that all stock awards that are outstanding and unvested, including those awards modified in connection with an equity restructuring or retained following such a transaction, and for which compensation cost will be recognized under FASB ASC Topic 718, should be included in the Pay versus Performance table. Accordingly, although this guidance was issued after the filing and mailing of the Company’s 2023 proxy statement, we have restated the disclosure for fiscal year 2022. </span>
</div>
<div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;"></div>
15074962
86758223
3254550
8063657
149.53
175.44
-27000000
45125920
74718861
4760015
8403979
121.02
106.65
-82000000
<div style=" float:left; margin-top:9.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;"> <span style="letter-spacing:0.2pt;">(1)</span> <br/> </div><div style=" margin-top:9.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;"> <span style="letter-spacing:0.2pt;">Prof. Amnon Shashua, in his capacity as CEO, is the Company’s principal executive officer for 2023. Compensation for our CEO reflects the amounts reported in the summary compensation table. </span> </div><div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;"></div><div style=" float:left; line-height:12pt; margin-top:5.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
<span style="letter-spacing:0.2pt;">(2)</span>
<br/>
</div><div style=" margin-top:5.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
<span style="letter-spacing:0.2pt;">The remaining non-CEO named executive officers for 2023 are: Moran Shemesh Rojansky, Chief Financial Officer; Prof. Shai Shalev-Shwartz, Chief Technology Officer; Dr. Gaby Hayon, Executive Vice President, Research & Development; Nimrod Nehushtan Executive Vice President, Business Development & Strategy and Co-Manager REM; and Anat Heller, former Chief Financial Officer and currently Financial Consultant. Compensation for our non-CEO named executive officers reflects the average of amounts reported in the summary compensation table. </span>
</div>
Prof. Amnon Shashua
<div style=" float:left; line-height:12pt; margin-top:5.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;"> <span style="letter-spacing:0.2pt;">(4)</span> <br/> </div><div style=" margin-top:5.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
<span style="letter-spacing:0.2pt;">TSR represents cumulative TSR for the period commencing on October 26, 2022 until December 30, 2023. For the Peer Group, the TSR is a weighted peer group TSR. </span>
</div>
<div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;"> <span style="letter-spacing:-0.2pt;">“Compensation actually paid” compared to TSR, and net income.</span><span style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </span> </div><div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
<span style="letter-spacing:0.2pt;">TSR and net income are some indicators of the Company’s overall financial performance that may impact the value of NEOs’ total compensation; however, other factors are considered in setting NEOs’ compensation. See the Compensation Discussion and Analysis section of this proxy statement for additional information. </span>
</div><div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
<span style="letter-spacing:0.2pt;">Our cumulative TSR for the period commencing on October 26, 2022 until December 30, 2023 as reported in the table above was 49.53%. During this same period, the cumulative TSR of the companies in our Peer Group was 75.44%. </span>
</div><div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
<span style="letter-spacing:0.2pt;">Our net loss has decreased in 2023, as compared to 2022. In any event, TSR and net income are not used in the design of our executive compensation program; as a result, net income and TSR do not directly impact the amount of “compensation actually paid” to the NEOs. </span>
</div>
<div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;"> <span style="letter-spacing:-0.2pt;">“Compensation actually paid” compared to TSR, and net income.</span><span style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </span> </div><div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
<span style="letter-spacing:0.2pt;">TSR and net income are some indicators of the Company’s overall financial performance that may impact the value of NEOs’ total compensation; however, other factors are considered in setting NEOs’ compensation. See the Compensation Discussion and Analysis section of this proxy statement for additional information. </span>
</div><div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
<span style="letter-spacing:0.2pt;">Our cumulative TSR for the period commencing on October 26, 2022 until December 30, 2023 as reported in the table above was 49.53%. During this same period, the cumulative TSR of the companies in our Peer Group was 75.44%. </span>
</div><div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
<span style="letter-spacing:0.2pt;">Our net loss has decreased in 2023, as compared to 2022. In any event, TSR and net income are not used in the design of our executive compensation program; as a result, net income and TSR do not directly impact the amount of “compensation actually paid” to the NEOs. </span>
</div>
<div style="margin-top:12pt; width:456pt; line-height:12pt;font-style:italic;font-weight:bold;"> <span style="letter-spacing:-0.2pt;">“Compensation actually paid” compared to TSR, and net income.</span><span style="font-style:normal;font-weight:normal;letter-spacing:0.2pt;"> </span> </div><div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
<span style="letter-spacing:0.2pt;">TSR and net income are some indicators of the Company’s overall financial performance that may impact the value of NEOs’ total compensation; however, other factors are considered in setting NEOs’ compensation. See the Compensation Discussion and Analysis section of this proxy statement for additional information. </span>
</div><div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
<span style="letter-spacing:0.2pt;">Our cumulative TSR for the period commencing on October 26, 2022 until December 30, 2023 as reported in the table above was 49.53%. During this same period, the cumulative TSR of the companies in our Peer Group was 75.44%. </span>
</div><div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12.5pt;">
<span style="letter-spacing:0.2pt;">Our net loss has decreased in 2023, as compared to 2022. In any event, TSR and net income are not used in the design of our executive compensation program; as a result, net income and TSR do not directly impact the amount of “compensation actually paid” to the NEOs. </span>
</div>
DEF 14A
false
0001910139