secwatch.observer — SEC 8-K summary
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Issuer:     MITEK SYSTEMS INC (MITK)
CIK:        0000807863
Form:       8-K
Filed at:   2023-03-15T23:59:59+00:00
Accession:  0000807863-23-000021
Event type: other_material
Sentiment:  neutral
Materiality: 0.25
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mitek Systems adopts FY2023 annual incentive plan for executives and employees
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- CEO bonus target set at 120% of annual salary; CFO, CLO, and GM at 50%; CTO at 60%.
- Maximum payout is 200% of target; performance tied to revenue and non-GAAP operating income margin.
- For core identity and deposits, director-level participants have 80% revenue weight, 20% margin; others 60% revenue, 10% margin, 30% individual objectives.
- ID R&D business area has different weighting: 70% revenue, 15% core identity linkage, 15% margin for director-level.
- Plan effective for fiscal year ending September 30, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/807863/000080786323000021/0000807863-23-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/807863/000080786323000021/mitk-20230315.htm
  HTML page:      https://secwatch.observer/filing/0000807863-23-000021

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