Mitek Appoints Industry Veteran Chris Briggs as Head of Product - Seite 2

“There are other players working to make a name for themselves in the identity space; however, Mitek’s demonstrated success in executing its development plans was a primary driver in my decision to join the team,” said Briggs. “I am honored to be working alongside other leaders with a clear vision for taming the wild west of the identity industry and the right capabilities, tooling, and support to execute on those goals.”

Required Information regarding inducement equity grant:

In connection with Chirs Briggs’ employment, on May 16, 2022, the Mitek board of directors granted to him restricted stock units for (i) 29,474 shares of the Company’s common stock, which shall vest over a four year period with 25% of the shares subject thereto vesting on each anniversary of the grant date, (ii) 29,474 shares of the Company’s common stock, which shall vest up to 33.33% of the shares subject thereto on each anniversary of the grant date, subject to the achievement of the annual performance criteria which is based on the percentage increase in value of the Company’s common stock as compared to the percentage increase in value of the Russell 2000 Index over the applicable annual performance period, and (iii) 9,823 shares of the Company’s common stock, which shall vest up to 33.33% of the shares subject thereto on each anniversary of the grant date if the annual performance criteria (which is based on the percentage increase in value of the Company’s common stock as compared to the percentage increase in value of the Russell 2000 Index) for the applicable performance period has been exceeded. The restricted stock units were granted as an inducement to Mr. Briggs to accept employment with the Company and in accordance with NASDAQ Listing Rule 5635(c)(4). The vesting of each grant is subject to the employee’s continued service with the Company through the applicable vesting date. The inducement grants are subject to the terms and conditions of award agreements covering the grants and the Company’s 2020 Incentive Plan.

About Mitek

Mitek (NASDAQ: MITK) is a global leader in digital identity verification built on the latest advancements in computer vision and artificial intelligence. Mitek’s identity verification solutions enable organizations to verify an individual’s identity during digital transactions to reduce risk and meet regulatory requirements, while increasing revenue from digital channels. More than 7,500 organizations use Mitek to enable trust and convenience in today’s digital economy. Mitek is based in San Diego, Calif., with offices across the U.S. and Europe. Learn more at www.miteksystems.com. Follow Mitek on LinkedIn, Twitter and YouTube, and read Mitek’s latest blog posts here.