Form 4: Immersion Corp CEO Eric Singer Reports Acquisition of Restricted Stock
SEC Form 4 Filing
Eric Singer, President and CEO of Immersion Corp, reports acquiring 17,242 shares of restricted stock on April 29, 2024.
Summary
- On April 29, 2024, Eric Singer, the President and CEO of Immersion Corp, acquired 17,242 shares of common stock.
- These shares were granted as restricted stock under the company's director compensation policy.
- The restricted stock will vest on the earlier of April 29, 2025, or the date of the Issuer's 2025 annual meeting of stockholders, contingent upon continued service.
- Mr. Singer directly owns 1,494,850 shares of Immersion Corp common stock following the reported transaction.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. The grant of restricted stock is a standard practice and aligns management's interests with shareholders. There are no immediate negative implications.
Positives
- The grant of restricted stock aligns the CEO's interests with those of the shareholders, incentivizing him to increase the company's value.
Future Outlook
The vesting of the restricted stock is contingent upon continued service, suggesting an expectation of continued leadership from Eric Singer.
Industry Context
Grants of restricted stock are a common form of executive compensation in the technology industry, aligning management's interests with those of shareholders.
Stakeholder Impact
- The grant of restricted stock aligns the CEO's interests with those of the shareholders, incentivizing him to increase the company's value.
Key Dates
| Date | Description |
|---|---|
| 04/29/2024 | Date of transaction: Eric Singer acquired 17,242 shares of restricted stock. |
| 04/29/2025 | Vesting date of the restricted stock, subject to continued service, or the date of the Issuer's 2025 annual meeting of stockholders, whichever is earlier. |
| 04/30/2024 | Date of signature on the Form 4 filing. |
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