secwatch.observer — SEC 8-K summary
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Issuer:     MITEK SYSTEMS INC (MITK)
CIK:        0000807863
Form:       8-K
Filed at:   2025-01-28T23:59:59+00:00
Accession:  0000807863-25-000013
Event type: other
Sentiment:  neutral
Materiality: 0.25
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mitek Systems adopts FY2025 incentive plan; CEO target 100% of salary
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- Board approved 2025 annual cash bonus plan on Jan 28, 2025, for executives and employees.
- CEO bonus target set at 100% of annual salary; CFO 65%; CLO 60%; top product execs 50%.
- Bonuses tied to revenue and Adjusted EBITDA targets for Deposits and Identity segments.
- Maximum payout is 200% of target; director-level and above weighted 50% revenue/50% EBITDA.
- Individual objectives account for 20% of target for non-director participants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/807863/000080786325000013/0000807863-25-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/807863/000080786325000013/mitk-20250128.htm
  HTML page:      https://secwatch.observer/filing/0000807863-25-000013

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer