SAN JOSE, Calif.--(BUSINESS WIRE)--Immersion Corporation (NASDAQ:IMMR), the leading developer and licensor of touch feedback technology, today announced that on February 14, 2011, the company granted to two of its new employees non-qualified stock options to purchase an aggregate of 3,600 shares of the company’s common stock at the exercise price of $6.63, the closing price of the company’s common stock on February 14, 2011. These options fully vests after four years, with 1/4th of the grant vesting on the first anniversary of the date of commencement of employment, and 1/48th of the grant vesting monthly thereafter.
These options were granted under the Immersion Corporation 2008 Employment Inducement Award Plan approved by the Compensation Committee of the company effective April 30, 2008. This press release is being issued pursuant to Nasdaq Marketplace Rule 5635(c)(4).
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On February 14, 2011, the company issued the following awards: |
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| Fair Market | ||||||||||||
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Effective |
Value Per Share | Number of | ||||||||||
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Type of Award |
Date of Grant |
Total Shares |
(Grant Price) |
Participants |
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| Non-Qualified | February 14, 2011 | 3,600 | $6.63 | 2 | ||||||||
| Stock Option | ||||||||||||
About Immersion (www.immersion.com)
Founded in 1993, Immersion (NASDAQ: IMMR) is the leading innovator in haptics technology; the company's touch feedback solutions deliver a more compelling sense of the digital world. Using Immersion's high-fidelity haptic systems, partners can transform user experiences with unique and customizable touch feedback effects; excite the senses in games, videos and music; restore "mechanical" feel by providing intuitive and unmistakable confirmation; improve safety by overcoming distractions while driving or performing a medical procedure; and expand usability when audio and visual feedback are ineffective. Immersion's TouchSense technology provides haptics in mobile phone, automotive, gaming, medical and consumer electronics products from world-class companies. With over 1,000 issued or pending patents in the U.S. and other countries, Immersion helps bring the digital universe to life.
Immersion, the Immersion logo and TouchSense are trademarks of Immersion Corporation in the United States and other countries. All other trademarks are the property of their respective owners.
(IMMR-C)