William C. Martin - Jun 28, 2024 Form 4 Insider Report for IMMERSION CORP (IMMR)

Signature
/s/ William C. Martin
Stock symbol
IMMR
Transactions as of
Jun 28, 2024
Transactions value $
-$539,220
Form type
4
Date filed
7/2/2024, 06:11 PM
Previous filing
Jun 21, 2024
Next filing
Jul 10, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IMMR Common Stock Award $0 +53.7K +5.23% $0.00 1.08M Jun 28, 2024 Direct F1
transaction IMMR Common Stock Tax liability -$108K -11.4K -1.06% $9.46 1.07M Jul 1, 2024 Direct F2
transaction IMMR Common Stock Options Exercise $0 +100K +9.37% $0.00 1.17M Jul 1, 2024 Direct F3
transaction IMMR Common Stock Tax liability -$431K -45.6K -3.91% $9.46 1.12M Jul 1, 2024 Direct F4
transaction IMMR Common Stock Award $0 +150K +13.37% $0.00 1.27M Jul 1, 2024 Direct F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction IMMR Performance-based Restricted Stock Units Options Exercise $0 -100K -50% $0.00 100K Jul 1, 2024 Common Stock 100K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Common stock issued to the Reporting Person in lieu of salary earned during the three months ended June 30, 2024 less applicable withholding taxes and amounts required to be paid to the Reporting Person in cash pursuant to applicable law. The total number of shares of the Issuer's common stock issued to the Reporting Person was calculated by determining the salary earned by the Reporting Person during the three months ended June 30, 2024, subtracting applicable withholding taxes and amounts required to be paid to the Reporting Person in cash pursuant to applicable law, and dividing the remainder by the closing price on June 28, 2024.
F2 Represents shares withheld to satisfy the tax withholding obligations upon restricted stock units vesting.
F3 Grant of 300,000 Performance-Based Restricted Stock Units, each of which represents a contingent right to receive one share of the Issuer's common stock, with vesting subject to: (a) the achievement of specified levels of the volume weighted average closing prices of the Issuer's common stock during any one hundred (100) day-period between January 1, 2022 and January 1, 2027; and (b) continued employment with the Issuer through the later of each achievement date or service vesting date, which occurs over a three (3) year-period commencing on January 1, 2022.
F4 Represents shares withheld to satisfy the tax withholding obligations upon Performance-Based Restricted Stock Units vesting.
F5 Represents the grant of 150,000 restricted stock units, 100% of which will vest on the one-year anniversary of July 1, 2024, the effective grant date, or July 1, 2025, subject to the Reporting Person's continued employment with the Issuer. Each RSU represents a contingent right to receive one share of the Issuer's common stock.