SAN JOSE, Calif.--(BUSINESS WIRE)--Immersion Corporation (NASDAQ:IMMR), the leading developer and licensor of touch feedback technology, today announced that on March 14, 2011, the company granted to one of its new employees non-qualified stock options to purchase 3,300 shares of the company’s common stock at the exercise price of $6.61, the closing price of the company’s common stock on March 14, 2011. These options fully vest after four years, with 1/4th of the grants vesting on the first anniversary of the date of commencement of employment, and 1/48th of the grants vesting monthly thereafter.
This option was 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).
On March 14, 2011, the company issued the following award:
|
Type of Award |
Effective |
Total Shares |
Fair Market |
Number of |
||||
| Non-Qualified | March 14, 2011 | 3,300 | $6.61 | 1 | ||||
| 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.