IMMR News & Events

Immersion announced that on December 23, 2025, it received a delinquency compliance alert notice from the Listing Qualifications Department of The Nasdaq Stock Market notifying the company that it did not timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended October 31, 2025. As previously reported on the company's Notification of Late Filings on Form 12b-25, filed with the SEC on July 30, 2025, September 16, 2025, and December 16, 2025, Immersion and Barnes & Noble Education, a consolidated subsidiary of the company, were conducting audit committee investigations that will result in the restatement of previously-issued financial information. As a result of the investigations by the Immersion and BNED audit committees and the company's work with respect to the Restatement, management was unable to complete the company's financial reporting process and preparation of its financial statements for the fiscal quarters ended July 31, 2025 and October 31, 2025, and the fiscal year ended April 30, 2025. The company is working diligently to complete the necessary work to file the Q1 Form 10-Q, the Q2 Form 10-Q, and the Form 10-K as soon as practicable to regain compliance with Nasdaq Listing Rule 5250(c)(1), but the company's ability to file the Q1 Form 10-Q, the Q2 Form 10-Q, and the Form 10-K remains subject to the consolidation of BNED's financial information.

Immersion announced that its board of directors has approved an increase in the quarterly dividend from 4.5c per share to 7.5c per share and has entered into a cooperation agreement with Scott Larson. The quarterly cash dividend of 7.5c per share will be paid, subject to any prior revocation, in cash on January 30, 2026, to shareholders of record as of January 19, 2026.

Immersion announced that its board of directors has adopted a temporary shareholder rights plan designed to protect the interests of all shareholders by reducing the likelihood that any person or group could gain control of the company without appropriately compensating company shareholders for control. The rights plan will be triggered if any person or group acquires beneficial ownership of more than 9.99% of Immersion's outstanding common stock. The rights plan will remain in effect through October 31, 2026. The board approved the rights plan following receipt of a letter dated November 3 from Immersion shareholder Scott Larson, which was subsequently made public via a filing with the SEC. The letter represented the first direct communication of Larson's views to the company; he had previously scheduled a meeting with management but canceled it on short notice and did not reschedule.

Immersion Corporation announced that on September 29, 2025, it received a delinquency compliance alert notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying the Company that it did not timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2025. As previously disclosed, on August 20, 2025, the Company received written notice from Nasdaq notifying the Company that it did not timely file its Annual Report on Form 10-K for the fiscal year ended April 30, 2025. Both the Form 10-Q and the Form 10-K are required to be filed for continued listing on Nasdaq pursuant to Nasdaq Listing Rule 5250(c)(1). Under Nasdaq rules, the Company has 60 calendar days from the date of the 10-K Nasdaq Notification Letter, or October 20, 2025, to submit to Nasdaq a plan to regain compliance with Nasdaq Listing Rule 5250(c)(1). If Nasdaq accepts the plan, the Company will have until February 9, 2026 to regain compliance.