Enovix (ENVX) Proxy Filing summary

Executive summary

• Supplement clarifies CEO Dr. Raj Talluri's employment arrangement and initial equity grant details.

• Outlines circumstances and severance for former named executive officers who departed in 2023.

• Board reiterates recommendation to vote FOR the advisory vote on executive compensation.

Voting matters and shareholder proposals

• Board recommends voting FOR Item 2, the Advisory Vote to Approve Executive Compensation.

• Shareholders are reminded of procedures to submit or change their proxy votes.

Executive compensation and say-on-pay

• Dr. Talluri received an initial RSU grant for 2,000,000 shares vesting over five years, compensating for forfeited equity at his prior employer.

• 2024 equity awards for NEOs include an equal mix of time-based and performance-based RSUs.

• Dr. Talluri's 2024 long-term incentive plan equity award target value is approximately $6 million.