Form 4: Immersion Corp CEO Exercises Stock Options, Sells Shares for Tax Obligations
SEC Form 4 Filing
Eric Singer, President and CEO of Immersion Corporation, exercised performance-based restricted stock units and sold a portion of the acquired shares to cover tax obligations.
Summary
- On August 6, 2024, Eric Singer, the President and CEO of Immersion Corporation, exercised 100,000 performance-based restricted stock units (RSUs) that converted into common stock.
- Following the exercise, Singer sold 19,676 shares on August 7, 2024, at a price of $10.23 per share to satisfy tax withholding obligations related to the RSU vesting.
- After these transactions, Singer directly owns 1,862,867 shares of Immersion Corporation common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment about the company's performance or prospects.
Industry Context
This filing is a routine disclosure of insider transactions, which are common occurrences in publicly traded companies. It provides transparency into the trading activities of company executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve the exercise of existing stock options and a small sale of shares to cover taxes.
Key Dates
| Date | Description |
|---|---|
| January 1, 2022 | Start date for the three-year service vesting period of the performance-based restricted stock units. |
| January 1, 2027 | End date for the achievement of specified levels of the volume weighted average closing prices of the Issuer's common stock. |
| August 6, 2024 | Date of transaction where 100,000 Performance-Based Restricted Stock Units were exercised. |
| August 7, 2024 | Date of transaction where 19,676 shares were disposed of to cover tax obligations. |
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