Immersion Announces Employment Inducement Awards
SAN JOSE, Calif.--(Business Wire)--
Immersion Corporation (NASDAQ:IMMR), the leading developer and
licensor of touch feedback technology
(http://www.immersion.com/corporate/), today announced that the
Company granted stock options under the Immersion Corporation 2008
Employment Inducement Award Plan approved by the Compensation
Committee of the Company effective April 30, 2008.
Under the Plan, the Company may issue awards in the form of stock
options, stock appreciation rights, restricted stock purchase rights,
restricted stock bonuses, restricted stock units, performance shares,
performance units, deferred compensation awards, and other cash and
stock awards. Such awards may be granted to employees who, prior to
the offer of an award as an inducement to become an employee, were (i)
neither employees nor directors or (ii) former employees or directors
whose period of service was followed by a bona-fide period of
non-employment.
On August 14, 2008, the Company issued the following awards:
-0-
*T
Fair
Market
Value Per
Share
Effective (Grant Number of
Type of Award Date of Grant Total Shares Price) Participants
--------------- ---------------- ------------- --------- -------------
Common Stock August 14, 2008 19,000 $7.45 3
Option
*T
About Immersion (www.immersion.com)
Founded in 1993, Immersion Corporation is the recognized leader in
developing, licensing, and marketing digital touch technology and
products. Using Immersion's advanced touch feedback technology
(http://www.immersion.com/corporate), electronic user interfaces are
more compelling, entertaining, and in many applications, safer and
more productive. Immersion's technology has helped manufacturers
develop innovative and creative solutions for products such as
hundreds of video games and leading video console gaming systems,
medical training simulators installed around the world, driver
controls for automotive manufacturers, and mobile phones, such as
those from LG and Samsung. Immersion's patent portfolio includes over
700 issued or pending patents in the U.S. and other countries.
Immersion and the Immersion logo are trademarks of Immersion
Corporation in the United States and other countries. All other
trademarks are the property of their respective owners.
Immersion Corporation
Stephen Ambler, +1 408-467-1900
invest@immersion.com
Copyright Business Wire 2008
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