Immersion Corp Elects New Directors, Reports on Executive Compensation
Ticker: IMMR · Form: 8-K · Filed: May 24, 2024 · CIK: 1058811
Sentiment: neutral
Topics: board-composition, executive-compensation, governance
Related Tickers: IMMR
TL;DR
Immersion Corp adds two new board members, Cohen and Schlotterbeck, effective immediately.
AI Summary
Immersion Corporation announced on May 21, 2024, the election of two new directors, Dr. Steven M. Cohen and Mr. David L. Schlotterbeck, to its Board of Directors. This change is effective immediately. The company also reported on compensatory arrangements for its named executive officers.
Why It Matters
The addition of new directors can signal a shift in company strategy or governance, potentially impacting future performance and shareholder value.
Risk Assessment
Risk Level: low — The filing primarily concerns board composition and executive compensation, which are routine corporate governance matters.
Key Players & Entities
- Immersion Corporation (company) — Registrant
- Dr. Steven M. Cohen (person) — Newly elected director
- Mr. David L. Schlotterbeck (person) — Newly elected director
- May 21, 2024 (date) — Date of report and earliest event
FAQ
Who were the new directors elected to Immersion Corporation's Board?
Dr. Steven M. Cohen and Mr. David L. Schlotterbeck were elected as new directors.
When was the election of the new directors effective?
The election of the new directors was effective as of May 21, 2024.
What is Immersion Corporation's state of incorporation?
Immersion Corporation is incorporated in Delaware.
What is the SIC code for Immersion Corporation?
The Standard Industrial Classification code for Immersion Corporation is 3577 (COMPUTER PERIPHERAL EQUIPMENT, NEC).
What other information is reported in this 8-K filing besides director changes?
The filing also reports on compensatory arrangements of certain officers.
Filing Stats: 471 words · 2 min read · ~2 pages · Grade level 12 · Accepted 2024-05-24 17:00:46
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value per share IMMR The Nasdaq G
- $1,500,000 — Chairman of the Board, in the amount of $1,500,000 (the " Discretionary Bonus "). The Comm
Filing Documents
- e663648_8k-immersion.htm (8-K) — 24KB
- 0001193805-24-000705.txt ( ) — 235KB
- immr-20240521.xsd (EX-101.SCH) — 4KB
- immr-20240521_def.xml (EX-101.DEF) — 26KB
- immr-20240521_lab.xml (EX-101.LAB) — 36KB
- immr-20240521_pre.xml (EX-101.PRE) — 25KB
- e663648_8k-immersion_htm.xml (XML) — 5KB
02 Departure of Directors
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers . On May 21, 2024, the Compensation Committee (the " Committee ") of the Board of Directors of Immersion Corporation, a Delaware corporation (the " Company "), approved a discretionary cash bonus award to Eric Singer, the Company's Chief Executive Officer and Chairman of the Board, in the amount of $1,500,000 (the " Discretionary Bonus "). The Committee granted Mr. Singer the Discretionary Bonus in recognition of the Company's performance to date in 2024, including the Company's recently announced licensing transactions and Mr. Singer's individual contributions to such performance.
SIGNATURES
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: May 24, 2024 By: /s/ Eric Singer Name: Eric Singer Title: Chief Executive Officer