IMMERSION CORPORATION (NASDAQ:IMMR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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IMMERSION CORPORATION (NASDAQ:IMMR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

IMMERSION CORPORATION (NASDAQ:IMMR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

The Board of Directors of Immersion Corporation (the “Company”) previously adopted, subject to stockholder approval, certain amendments to the Company’s 2011 Equity Incentive Plan (the “Equity Plan”). At the Company’s 2019 Annual Meeting of Stockholders held on June 14, 2019 (the “Annual Meeting”), the Company’s stockholders approved the amendments to the Equity Plan. The amendments to the Equity Plan: (i) increase the number of shares reserved for issuance by 2,595,751 shares of common stock, (ii) provide that all equity awards will be subject to an initial vesting period of no less than 12 months from the date of grant (subject to certain exceptions), (iii) prohibit the payment of dividends with respect to any shares of common stock subject to an outstanding award granted under the Equity Plan (or portion thereof) that have not vested, (iv) provide that a non-employee director may receive compensation (including cash and awards) representing no more than $500,000 total value in any calendar year, (v) remove certain provisions that were previously included for tax deductibility purposes under Internal Revenue Code (IRC) Section 162(m) and are no longer relevant, and (vi) make certain other clarifying changes to administrative provisions to the Equity Plan.

The foregoing summary of the amendments to the Equity Plan is qualified by the text of the Equity Plan, as amended, which is incorporated by reference as Exhibit 10.1 to this Current Report on Form 8-K.

Item 5.07. Submissions of Matters to a Vote of Security Holders.

At the Annual Meeting, the following proposals were adopted as follows:

10.1    Immersion Corporation 2011 Equity Incentive Plan, as amended


IMMERSION CORP Exhibit
EX-10.1 2 d761559dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 IMMERSION CORPORATION 2011 EQUITY INCENTIVE PLAN (As Amended April 24,…
To view the full exhibit click here

About IMMERSION CORPORATION (NASDAQ:IMMR)

Immersion Corporation is a licensing company focused on the creation, design, development and licensing of haptic technologies that allow people to use their sense of touch when operating digital devices. The Company develops, licenses and supports a range of software and intellectual property (IP). It is focused on the markets, including mobile devices, wearables, consumer, mobile entertainment and other content; console gaming; automotive; medical, and commercial. It provides advanced tactile software, related tools and technical assistance to certain customers, and offers licenses to its patented IP to other customers. Its licenses enable customers to deploy haptically-enabled devices, content and other offerings, which they sell under own brand names. It holds patents, covering digital technologies and including ways in which touch-related technology can be incorporated into and between hardware products and components, systems software, application software, and digital content.