0001760689 2025-01-01 2025-12-31 0001760689 2024-01-01 2024-12-31 0001760689 2023-01-01 2023-12-31 0001760689 ecd:EqtyAwrdsInSummryCompstnTblForAplblYrMember ecd:PeoMember 2025-01-01 2025-12-31 0001760689 ecd:EqtyAwrdsInSummryCompstnTblForAplblYrMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001760689 ecd:YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember ecd:PeoMember 2025-01-01 2025-12-31 0001760689 ecd:YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001760689 ecd:ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember ecd:PeoMember 2025-01-01 2025-12-31 0001760689 ecd:ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001760689 ecd:VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember ecd:PeoMember 2025-01-01 2025-12-31 0001760689 ecd:VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001760689 ecd:ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember ecd:PeoMember 2025-01-01 2025-12-31 0001760689 ecd:ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001760689 ecd:FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember ecd:PeoMember 2025-01-01 2025-12-31 0001760689 ecd:FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001760689 ecd:DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember ecd:PeoMember 2025-01-01 2025-12-31 0001760689 ecd:DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001760689 1 2025-01-01 2025-12-31 0001760689 2 2025-01-01 2025-12-31 0001760689 3 2025-01-01 2025-12-31 iso4217:USD MICROVAST HOLDINGS, INC. true Although we have not adopted a formal policy pertaining to the timing of stock option grants to our NEOs, it is our practice not to time the grant of equity awards, including stock options, in relation to the release of material non-public information. Similarly, the Company does not time the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation. In Fiscal 2025, we did not grant any stock options or stock appreciation rights during the period beginning four business days before, and ending one business day after, the filing of a Form 10-Q, Form 10-K, or Form 8-K. Although we have not adopted a formal policy pertaining to the timing of stock option grants to our NEOs, it is our practice not to time the grant of equity awards, including stock options, in relation to the release of material non-public information. Similarly, the Company does not time the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation. we have not adopted a formal policy pertaining to the timing of stock option grants to our NEOs, it is our practice not to time the grant of equity awards, including stock options, in relation to the release of material non-public information. false false Pay Versus Performance Table (“PVP Table”) <table cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="padding-right: 2.65pt; padding-left: 2.65pt"> </td> <td> </td> <td style="padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"> </td> <td> </td> <td style="padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"> </td> <td> </td> <td style="padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"> </td> <td> </td> <td style="padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"> </td> <td> </td> <td colspan="3" style="border-bottom: Black 1.5pt solid; padding-right: 2.65pt; padding-left: 2.65pt"> Value of Initial Fixed $100 Investment Based On:</td> <td> </td> <td style="padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"> </td> <td> </td> <td style="padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 4%; border-bottom: Black 1.5pt solid; padding-right: 2.65pt; padding-left: 2.65pt">Year</td> <td style="width: 1%"> </td> <td style="width: 17%; border-bottom: Black 1.5pt solid; padding-right: 2.65pt; padding-left: 2.65pt"> Summary Compensation Table Total for PEO ($)(1)(2)</td> <td style="width: 1%"> </td> <td style="width: 11%; border-bottom: Black 1.5pt solid; padding-right: 2.65pt; padding-left: 2.65pt"> Compensation Actually Paid to PEO ($)(3)</td> <td style="width: 1%"> </td> <td style="width: 11%; border-bottom: Black 1.5pt solid; padding-right: 2.65pt; padding-left: 2.65pt"> Average Summary Compensation Table for Non-PEO NEOs ($)(1)(2)</td> <td style="width: 1%"> </td> <td style="width: 11%; border-bottom: Black 1.5pt solid; padding-right: 2.65pt; padding-left: 2.65pt"> Average Compensation Actually Paid to Non-PEO NEOs ($)(3)</td> <td style="width: 1%"> </td> <td style="width: 9%; border-bottom: Black 1.5pt solid; padding-right: 2.65pt; padding-left: 2.65pt"> Total Shareholder Return ($)</td> <td style="width: 1%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 9%; padding-right: 2.65pt; padding-left: 2.65pt"> Peer Group Total Shareholder Return ($)</td> <td style="width: 1%"> </td> <td style="width: 10%; padding-right: 2.65pt; padding-left: 2.65pt"> Net Income ($) (in millions)</td> <td style="width: 1%"> </td> <td style="width: 10%; border-bottom: Black 1.5pt solid; padding-right: 2.65pt; padding-left: 2.65pt"> Revenue ($) (in millions)</td></tr> <tr style="background-color: #CCEEFF"> <td style="padding-right: 2.65pt; padding-left: 2.65pt">2025</td> <td style="text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">3,775,310</td> <td style="text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">2,197,717</td> <td style="text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">916,591</td> <td style="text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">1,152,592</td> <td style="text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">183</td> <td style="text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">216</td> <td style="text-align: center"> </td> <td style="vertical-align: top; border-top: Black 1.5pt solid; padding-right: 0.75pt; text-align: center">(29)</td> <td style="text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">428</td></tr> <tr> <td style="padding-right: 2.65pt; padding-left: 2.65pt">2024</td> <td style="padding-right: 1.5pt; padding-left: 1.5pt; text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">1,141,226</td> <td style="padding-right: 0.65pt; padding-left: 2.35pt; text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">1,349,785</td> <td style="padding-right: 0.65pt; padding-left: 2.35pt; text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">1,241,315</td> <td style="padding-right: 0.65pt; padding-left: 2.35pt; text-align: center"> </td> <td style="vertical-align: top; padding-right: 2.65pt; text-align: center">1,895,256</td> <td style="padding-right: 1.5pt; padding-left: 1.5pt; text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">135</td> <td style="padding-right: 0.65pt; padding-left: 2.35pt; text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">160</td> <td style="padding-right: 0.65pt; padding-left: 2.35pt; text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">(195)</td> <td style="padding-right: 0.65pt; padding-left: 2.35pt; text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">380</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; padding-right: 2.65pt; padding-left: 2.65pt">2023</td> <td style="padding-right: 1.5pt; padding-left: 1.5pt; text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">649,008</td> <td style="padding-right: 0.65pt; padding-left: 2.35pt; text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">554,345</td> <td style="padding-right: 0.65pt; padding-left: 2.35pt; text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">1,506,396</td> <td style="padding-right: 0.65pt; padding-left: 2.35pt; text-align: center"> </td> <td style="vertical-align: top; padding-right: 2.65pt; text-align: center">1,425,089</td> <td style="padding-right: 1.5pt; padding-left: 1.5pt; text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">92</td> <td style="padding-right: 0.65pt; padding-left: 2.35pt; text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">127</td> <td style="padding-right: 0.65pt; padding-left: 2.35pt; text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">(106)</td> <td style="padding-right: 0.65pt; padding-left: 2.35pt; text-align: center"> </td> <td style="vertical-align: top; padding-right: 0.75pt; text-align: center">307</td></tr> </table> <table cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 6pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">(1)</td><td>For each of 2023, 2024 and 2025, the Chief Executive Officer in the compensation columns is Mr. Wu. For 2023, the NEOs in the compensation columns are Craig Webster, Zachariah Ward, and Shane Smith. For 2024, the NEOs in the compensation columns are Dr. Wu and Ms. Tushe. For 2025, the NEOs in the compensation columns are Mr. Worthen, Ms. Tushe, Dr. Wu, Dr. Mattis, Mr. Schultz, and Ms. Khanbabi.</td></tr></table> <table cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">(2)</td><td>Amounts reported in these columns represent (i) the total compensation reported in the Summary Compensation Table (“SCT”) for the applicable year for our PEO, Mr. Wu, and (ii) the average total compensation reported in the SCT for the applicable year for our Non-PEO NEOs. The 2024 SCT amounts previously reported were incorrectly calculated. The amounts previously reported were $1,141,207 for our PEO and $1,269,434 for our Non-PEO NEOs.</td></tr></table> <table cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">(3)</td><td>Amounts reported in these columns represent compensation actually paid; adjustments were made to the amounts reported in the Summary Compensation Table for the applicable year. A reconciliation of the adjustments for 2025 for Mr. Wu and for the average of the Non-PEO NEOs is set forth in the following table, which describes the adjustments, each of which is prescribed by the SEC rules, to calculate the CAP Amounts from SCT amounts.</td></tr></table><table cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; background-color: #CCEEFF; border-collapse: collapse; border-spacing: 0px;"> <tr style="background-color: rgb(204,238,255)"> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center"> </td> <td colspan="3" style="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding: 2.9pt 5.4pt; text-align: center">2025</td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt"> </td> <td colspan="2" style="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding: 2.9pt 5.4pt; text-align: center">CEO</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding: 2.9pt 5.4pt; text-align: center">Average Non-PEO NEOs</td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding: 2.9pt 5.4pt">Summary Compensation Table Total</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$3,775,310</td> <td colspan="2" style="padding: 2.9pt 5.4pt; white-space: nowrap; text-align: center">$916,591</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td style="padding: 2.9pt 5.4pt">Minus Stock Award Value & Option Award Value Reported in SCT for the Covered Year</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$3,099,998</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$575,517</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding: 2.9pt 5.4pt">Plus Year End Fair Value of Equity Awards Granted During the Covered Year that Remain Outstanding and Unvested as of Last Day of the Covered Year</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$1,522,405</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$212,959</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td style="padding: 2.9pt 5.4pt">Plus Year over Year Change in Fair Value as of the Last Day of the Covered Year of Outstanding and Unvested Equity Awards Granted in Prior Years </td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$219,068</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding: 2.9pt 5.4pt">Plus Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Covered Year</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$46,666</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td style="padding: 2.9pt 5.4pt">Plus Year over Year Change in Fair Value as of the Vesting Date of Equity Awards Granted in Prior Years that Vested During the Covered Year </td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$332,824</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding: 2.9pt 5.4pt">Minus Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Covered or were Forfeited During the Covered Year</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td style="padding: 2.9pt 5.4pt">Plus Value of Dividends or other Earnings Paid on Stock or Option Awards Not Otherwise Reflected in Fair Value or Total Compensation for the Covered Year</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding: 2.9pt 5.4pt">Compensation Actually Paid</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$2,197,717</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$1,152,592</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td style="width: 48%"> </td> <td style="width: 1%"> </td> <td style="width: 22%"> </td> <td style="width: 1%"> </td> <td style="width: 22%"> </td> <td style="width: 3%"> </td> <td style="width: 3%"> </td></tr> </table> In the table above, the unvested equity values are computed in accordance with the methodology used for financial reporting purposes, and for unvested awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the year. <table cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">(4)</td><td>We selected the Russell 2000 Electrical Components Subsector Index (referred to herein as the “Peer Group”) as our peer group for purposes of this disclosure.</td></tr></table> <table cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 12pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">(5)</td><td>We have selected Revenue as the as the company-selected measure for the pay versus performance disclosure, representing the most important financial performance measure used to link compensation actually paid to the PEO and the other NEOs in Fiscal 2025 to the Company’s performance.</td></tr></table>Pay Versus Performance: Total Shareholder Return $127 $160 $216 $92 $135 $183 PEO CAP Average Non-PEO NEOs CAP Microvast TSR Peer Group TSR $0.6M $1.4M $1.3M $1.9M $2.2M $1.2M 2023 2024 2025Pay Versus Performance: Net Income PEO CAP Average Non-PEO NEOs CAP Net Income $0.6M $1.4M $1.3M $1.9M $2.2M $1.2M 2023 2024 2025 ($106M) ($195M) ($29M) 3775310 2197717 916591 1152592 183 216

-29000000

428000000 1141226 1349785 1241315 1895256 135 160

-195000000

380000000 649008 554345 1506396 1425089 92 127

-106000000

307000000 <table cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 6pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">(1)</td><td>For each of 2023, 2024 and 2025, the Chief Executive Officer in the compensation columns is Mr. Wu. For 2023, the NEOs in the compensation columns are Craig Webster, Zachariah Ward, and Shane Smith. For 2024, the NEOs in the compensation columns are Dr. Wu and Ms. Tushe. For 2025, the NEOs in the compensation columns are Mr. Worthen, Ms. Tushe, Dr. Wu, Dr. Mattis, Mr. Schultz, and Ms. Khanbabi.</td></tr></table><table cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">(2)</td><td>Amounts reported in these columns represent (i) the total compensation reported in the Summary Compensation Table (“SCT”) for the applicable year for our PEO, Mr. Wu, and (ii) the average total compensation reported in the SCT for the applicable year for our Non-PEO NEOs. The 2024 SCT amounts previously reported were incorrectly calculated. The amounts previously reported were $1,141,207 for our PEO and $1,269,434 for our Non-PEO NEOs.</td></tr></table> 1141207 1269434 <table cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">(3)</td><td>Amounts reported in these columns represent compensation actually paid; adjustments were made to the amounts reported in the Summary Compensation Table for the applicable year. A reconciliation of the adjustments for 2025 for Mr. Wu and for the average of the Non-PEO NEOs is set forth in the following table, which describes the adjustments, each of which is prescribed by the SEC rules, to calculate the CAP Amounts from SCT amounts.</td></tr></table><table cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; background-color: #CCEEFF; border-collapse: collapse; border-spacing: 0px;"> <tr style="background-color: rgb(204,238,255)"> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center"> </td> <td colspan="3" style="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding: 2.9pt 5.4pt; text-align: center">2025</td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt"> </td> <td colspan="2" style="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding: 2.9pt 5.4pt; text-align: center">CEO</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding: 2.9pt 5.4pt; text-align: center">Average Non-PEO NEOs</td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding: 2.9pt 5.4pt">Summary Compensation Table Total</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$3,775,310</td> <td colspan="2" style="padding: 2.9pt 5.4pt; white-space: nowrap; text-align: center">$916,591</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td style="padding: 2.9pt 5.4pt">Minus Stock Award Value & Option Award Value Reported in SCT for the Covered Year</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$3,099,998</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$575,517</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding: 2.9pt 5.4pt">Plus Year End Fair Value of Equity Awards Granted During the Covered Year that Remain Outstanding and Unvested as of Last Day of the Covered Year</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$1,522,405</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$212,959</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td style="padding: 2.9pt 5.4pt">Plus Year over Year Change in Fair Value as of the Last Day of the Covered Year of Outstanding and Unvested Equity Awards Granted in Prior Years </td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$219,068</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding: 2.9pt 5.4pt">Plus Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Covered Year</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$46,666</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td style="padding: 2.9pt 5.4pt">Plus Year over Year Change in Fair Value as of the Vesting Date of Equity Awards Granted in Prior Years that Vested During the Covered Year </td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$332,824</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding: 2.9pt 5.4pt">Minus Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Covered or were Forfeited During the Covered Year</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td style="padding: 2.9pt 5.4pt">Plus Value of Dividends or other Earnings Paid on Stock or Option Awards Not Otherwise Reflected in Fair Value or Total Compensation for the Covered Year</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding: 2.9pt 5.4pt">Compensation Actually Paid</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$2,197,717</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$1,152,592</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td style="width: 48%"> </td> <td style="width: 1%"> </td> <td style="width: 22%"> </td> <td style="width: 1%"> </td> <td style="width: 22%"> </td> <td style="width: 3%"> </td> <td style="width: 3%"> </td></tr> </table>In the table above, the unvested equity values are computed in accordance with the methodology used for financial reporting purposes, and for unvested awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the year. <table cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">(3)</td><td>Amounts reported in these columns represent compensation actually paid; adjustments were made to the amounts reported in the Summary Compensation Table for the applicable year. A reconciliation of the adjustments for 2025 for Mr. Wu and for the average of the Non-PEO NEOs is set forth in the following table, which describes the adjustments, each of which is prescribed by the SEC rules, to calculate the CAP Amounts from SCT amounts.</td></tr></table><table cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; background-color: #CCEEFF; border-collapse: collapse; border-spacing: 0px;"> <tr style="background-color: rgb(204,238,255)"> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center"> </td> <td colspan="3" style="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding: 2.9pt 5.4pt; text-align: center">2025</td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt"> </td> <td colspan="2" style="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding: 2.9pt 5.4pt; text-align: center">CEO</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding: 2.9pt 5.4pt; text-align: center">Average Non-PEO NEOs</td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding: 2.9pt 5.4pt">Summary Compensation Table Total</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$3,775,310</td> <td colspan="2" style="padding: 2.9pt 5.4pt; white-space: nowrap; text-align: center">$916,591</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td style="padding: 2.9pt 5.4pt">Minus Stock Award Value & Option Award Value Reported in SCT for the Covered Year</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$3,099,998</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$575,517</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding: 2.9pt 5.4pt">Plus Year End Fair Value of Equity Awards Granted During the Covered Year that Remain Outstanding and Unvested as of Last Day of the Covered Year</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$1,522,405</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$212,959</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td style="padding: 2.9pt 5.4pt">Plus Year over Year Change in Fair Value as of the Last Day of the Covered Year of Outstanding and Unvested Equity Awards Granted in Prior Years </td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$219,068</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding: 2.9pt 5.4pt">Plus Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Covered Year</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$46,666</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td style="padding: 2.9pt 5.4pt">Plus Year over Year Change in Fair Value as of the Vesting Date of Equity Awards Granted in Prior Years that Vested During the Covered Year </td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$332,824</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding: 2.9pt 5.4pt">Minus Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Covered or were Forfeited During the Covered Year</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td style="padding: 2.9pt 5.4pt">Plus Value of Dividends or other Earnings Paid on Stock or Option Awards Not Otherwise Reflected in Fair Value or Total Compensation for the Covered Year</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$0</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding: 2.9pt 5.4pt">Compensation Actually Paid</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$2,197,717</td> <td colspan="2" style="white-space: nowrap; padding: 2.9pt 5.4pt; text-align: center">$1,152,592</td> <td style="padding: 2.9pt 5.4pt; text-align: center"> </td> <td style="vertical-align: top; padding: 2.9pt 5.4pt; text-align: center"> </td></tr> <tr style="background-color: White"> <td style="width: 48%"> </td> <td style="width: 1%"> </td> <td style="width: 22%"> </td> <td style="width: 1%"> </td> <td style="width: 22%"> </td> <td style="width: 3%"> </td> <td style="width: 3%"> </td></tr> </table>In the table above, the unvested equity values are computed in accordance with the methodology used for financial reporting purposes, and for unvested awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the year. 3775310 916591 -3099998 -575517 1522405 212959 0 219068 0 46666 0 332824 0 0 0 0 2197717 1152592 <table cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">(4)</td><td>We selected the Russell 2000 Electrical Components Subsector Index (referred to herein as the “Peer Group”) as our peer group for purposes of this disclosure.</td></tr></table> <img alt="" src="image_003.jpg" style="height: 238.5pt; width: 5in"/> <img alt="" src="image_003.jpg" style="height: 238.5pt; width: 5in"/> <img alt="" src="image_004.jpg" style="height: 240.5pt; width: 5in"/> <img alt="" src="image_005.jpg" style="height: 229.5pt; width: 5in"/> List of Most Important Financial Performance Measures for Fiscal Year 2025 As described in greater detail in “—Compensation Discussion and Analysis,” the Company’s executive compensation program reflects a commitment to pay-for-performance. Listed below are the financial performance measures which in our assessment represent the most important performance measures we used to link compensation actually paid to our NEOs, for Fiscal 2025, to Company performance. <table cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr> <td style="vertical-align: top; width: 21%; padding-top: 0.7pt; padding-right: 0.7pt; line-height: 2pt"> </td> <td style="vertical-align: bottom; width: 1%; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 0.7pt; padding-right: 0.7pt; line-height: 2pt"> </td> <td style="width: 56%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 0.7pt; padding-right: 0.7pt; padding-bottom: 4pt; text-align: center">Accounts Receivable Collection</td> <td style="vertical-align: bottom; width: 1%; padding-top: 0.7pt; padding-right: 0.7pt; line-height: 2pt"> </td> <td style="vertical-align: top; width: 21%; padding-top: 0.7pt; padding-right: 0.7pt; line-height: 2pt"> </td></tr> <tr> <td style="vertical-align: top; padding-top: 0.7pt; padding-right: 0.7pt; line-height: 2pt"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 0.7pt; padding-right: 0.7pt; line-height: 2pt"> </td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 0.7pt; padding-right: 0.7pt; padding-bottom: 4pt; text-align: center">Operating Profit Margin</td> <td style="vertical-align: bottom; padding-top: 0.7pt; padding-right: 0.7pt; line-height: 2pt"> </td> <td style="vertical-align: top; padding-top: 0.7pt; padding-right: 0.7pt; line-height: 2pt"> </td></tr> <tr> <td style="vertical-align: top; padding-top: 0.7pt; padding-right: 0.7pt; padding-bottom: 4pt; text-align: center"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 0.7pt; padding-right: 0.7pt; line-height: 2pt"> </td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 0.7pt; padding-right: 0.7pt; padding-bottom: 4pt; text-align: center">Revenue</td> <td style="vertical-align: bottom; padding-top: 0.7pt; padding-right: 0.7pt; line-height: 2pt"> </td> <td style="vertical-align: top; padding-top: 0.7pt; padding-right: 0.7pt; padding-bottom: 4pt; text-align: center"> </td></tr> </table> Accounts Receivable Collection Operating Profit Margin Revenue DEF 14A 0001760689 false