Form 4: Immersion Corp Executive William C. Martin Reports Stock Transactions
SEC Form 4 Filing
William C. Martin, Chief Strategy Officer at Immersion Corporation, reports the vesting of performance-based restricted stock units and subsequent tax withholding.
Summary
- On August 6, 2024, William C. Martin, Chief Strategy Officer of Immersion Corporation, exercised 100,000 performance-based restricted stock units (RSUs).
- These RSUs were granted previously and vested upon the achievement of certain stock price targets and continued employment.
- Following the exercise, 22,802 shares were withheld on August 7, 2024, to cover tax obligations at a price of $10.23 per share.
- After these transactions, Martin directly owns 1,349,265 shares of Immersion Corp common stock.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the vesting of previously granted stock units and a small number of shares withheld for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 01/01/2022 | Commencement date for the three-year service vesting period of the performance-based restricted stock units. |
| 08/06/2024 | Date of transaction: Exercise of 100,000 performance-based restricted stock units. |
| 08/07/2024 | Date of transaction: Shares withheld to satisfy tax obligations. |
| 01/01/2027 | Expiration date for achieving specified stock price levels for the performance-based restricted stock units. |
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