IMMERSION CORP 10-Q

Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities Stock Repurchase Program On December 29, 2022, the Board approved the December 2022 Stock Repurchase Program, which terminated and superseded the stock repurchase program that had been approved by our Board on February 23, 2022. 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 Exchange Act. Additionally, 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 December 2022 Stock Repurchase Program was implemented as a method to return value to our stockholders. The timing, pricing and sizes of any repurchases will depend on a number of factors, including the market price our common stock and general market and economic conditions. The stock repurchase program does not obligate us to repurchase any dollar amount or number of shares, and the program may be suspended or discontinued at any time. On August 8, 2023, the Board approved an amendment to extend the expiration date of the December 2022 Stock Repurchase Program that was set to expire on December 29, 2023 to December 29, 2024. We repurchased 898,757 shares of our common stock for $6.2 million at average purchase price of $6.86 per share during the nine months ended September 30, 2023. As of September 30, 2023, we had $43 .8 million available for repurchase under the December 2022 Stock Repurchase Program . Periods Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs (1) July 1 to July 31 6,476 6.9045 6,476 47,100,000 August 1 to August 31, 2023 97,272 6.9969 97,272 47,100,000 September 1 to September 30, 2023 381,313 6.8073 3,328,287 43,800,000 (1) The amounts represent the amount available to repurchase shares under the authorized repurchase program as of September 30, 2023. Our stock repurchase program does not obligate it to acquire any specific number of shares. 39 Table of Contents ITEM 6. EXHIBITS The exhibits listed in the accompanying “Exhibit Index” are filed or incorporated by reference as part of this Form 10-Q. Exhibit Number Exhibit Description Incorporated by Reference Form File No. Exhibit Filing Date 3.1 Amended and Restated Bylaws of Immersion Corporation, effective as of August 12, 2022 8-K 000-38334 3.1 August 15, 2022 3.2 Amended and Restated Certificate of Incorporation of Immersion Corporation 8-K 000-27969 3.1 June 7, 2017 3.3 Certificate of Designation of the Powers, Preferences and Rights of Series A Redeemable Convertible Preferred Stock 8-K 000-27969 3.1 July 29, 2003 3.4 Amended and Restated Certificate of Designations of Series B Participating Preferred Stock of Immersion Corporation 8-K 000-27969 3.1 November 17, 2021 31.1 * Certification of Eric Singer, Chief Executive Officer, pursuant to Section 302 of the Sarbanes -Oxley Act of 2002. 31.2 * Certification of J. Michael Dodson, Chief Financial Officer, pursuant to Section 302 of the Sarbanes -Oxley Act of 2002 32.1 + Certification of Eric Singer, Chief Executive Officer, pursuant to Section 906 of the Sarbanes -Oxley Act of 2002. 32.2 + Certification of J. Michael Dodson, Chief Financial Officer, pursuant to Section 906 of the Sarbanes -Oxley Act of 2002. 101.INS * XBRL Report Instance Document 101.SCH * XBRL Taxonomy Extension Schema Document 101.CAL * XBRL Taxonomy Calculation Linkbase Document 101.DEF * XBRL Taxonomy Extension Definition Linkbase Document 101.LAB * XBRL Taxonomy Label Linkbase Document 101.PRE * XBRL Presentation Linkbase Document 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) * Filed herewith + This certification is deemed not filed for purposes of section 18 of the Exchange Act, as amended, or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act, as amended, or the Exchange Act, as amended. 40 Table of Contents SIGNATURES Pursuant to the requirements of the Exchange Act, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized. Date: November 13, 2023 IMMERSION CORPORATION By / S / J. MICHAEL DODSON J. Michael Dodson Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer) 41