0001058811 FL false 0001058811 2024-08-27 2024-08-27 0001058811 us-gaap:CommonStockMember 2024-08-27 2024-08-27 0001058811 us-gaap:SeriesBMember 2024-08-27 2024-08-27

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

 

August 27, 2024

 

Date of Report (Date of earliest event reported)

 

IMMERSION CORPORATION

(Exact name of Registrant as specified in its charter)

Delaware

 

001-38334

 

94-3180138

(State or other jurisdiction of incorporation)

 

(Commission file number)

 

(I.R.S. Employer Identification No.)

 

2999 N.E. 191st Street, Suite 610, Aventura, FL  33180

 

(Address of principal executive offices and zip code)

 

(408) 467-1900

(Registrant’s telephone number, including area code)

 

N/A

 

(Former name or former address, if changed since last report.) 

 

Check the appropriate box below if the Form 8‑K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.001 par value per share

IMMR

The Nasdaq Global Market

Series B Junior Participating Preferred Stock Purchase Rights

 

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b–2 of the Securities Exchange Act of 1934 (§240.12b–2 of this chapter). 

 

Emerging Growth Company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.                      ☐
 

Item 8.01 Other Events.

On August 27, 2024, the Board of Directors (the “Board”) of Immersion Corporation (the “Company”) approved an amendment to extend the expiration date of the Company’s current stock repurchase program that was set to expire on December 29, 2024 to December 29, 2025. The stock repurchase program was originally approved on December 29, 2022 and authorized the repurchase of up to $50 million of the Company’s common stock. Currently, the Company has $41.7 million available for repurchase under the stock repurchase program. Any stock repurchases may be made through open market and privately negotiated transactions, at such times and in such amounts as management deems appropriate, including pursuant to one or more Rule 10b5-1 trading plans adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Additionally, in connection with the initial approval of the stock repurchase program, the Board authorized the use of any derivative or similar instrument to effect stock repurchase transactions, including without limitation, accelerated share repurchase contracts, equity forward transactions, equity option transactions, equity swap transactions, cap transactions, collar transactions, naked put options, floor transactions or other similar transactions or any combination of the foregoing transactions. The stock repurchase program was implemented as a method to return value to the Company’s stockholders. The timing, pricing and sizes of any repurchases will depend on a number of factors, including the market price of the Company’s common stock and general market and economic conditions. The stock repurchase program does not obligate the Company to repurchase any dollar amount or number of shares, and the program may be suspended or discontinued at any time.

SIGNATURES 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 

 

 

IMMERSION CORPORATION

 

 

 

 

 

Date:

September 3, 2024

By:

/s/ J. MICHAEL DODSON

 

 

 

Name:

J. Michael Dodson

 

 

 

Title:

Chief Financial Officer

 


v3.24.2.u1
Cover
Aug. 27, 2024
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Aug. 27, 2024
Entity Registrant Name IMMERSION CORPORATION
Entity File Number 001-38334
Entity Tax Identification Number 94-3180138
Entity Address, Address Line One 2999 N.E. 191st Street, Suite 610
Entity Address, City or Town Aventura
Entity Address, State or Province FL
Entity Address, Postal Zip Code 33180
City Area Code 408
Local Phone Number 467-1900
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0001058811
Amendment Flag false
Entity Incorporation, State or Country Code DE
Common Stock  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock, $0.001 par value per share
Trading Symbol IMMR
Security Exchange Name NASDAQ
Series B  
Entity Information [Line Items]  
Title of 12(b) Security Series B Junior Participating Preferred Stock Purchase Rights
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