Immersion Corporation (IMMR) Earnings Call Transcript & Summary

Hello, and welcome to the fiscal year 2026 Annual Meeting of Stockholders of Immersion Corporation. Please note that today's meeting is being recorded. It is now my pleasure to turn today's meeting over to Eric Singer, President, CEO and Chairman. Mr. Singer, the floor is yours.

Good morning, ladies and gentlemen. I would like to welcome you to the fiscal year 2026 Annual Meeting of Stockholders of Immersion Corporation which will now come to order. I am Eric Singer, President, CEO and Chairman, and I will be presiding at today's meeting. It is my privilege to introduce you to the directors and other members of management to the company who are joining us today virtually. I would first like to introduce William C. Martin, our Chief Strategy Officer and a Director of the Board. I would also like to introduce our other director nominees. Frederic Walsh, Elias Nader and Emily S. Hoffman, as well as our CFO, J. Michael Dodson. Representing our current independent registered public accounting firm, BDO USA, PC are Anthony Castellano and Jeremy Wooten. Representing our outside legal counsel, Olshan Frome Molasky LLP, or Claudia Dubon and John Corrado. I, Eric Singer will act as Chairman of the meeting, and Mike Termin of Computershare will act as the Inspector of Elections. Mr. Corrado will act as Secretary of the meeting. The list of rules of conduct for the annual meeting are posted on the virtual meeting portal. We ask that each stockholder buy by these rules to be fair to the other stockholders virtually present and so that we can conduct an orderly meeting. Since we want to keep the formal part of this meeting focused on the business described in the notice of this meeting, if you have a comment on or require some information as to the company operations, please refer such items to our Corporate Secretary as described in the proxy statement for the annual meeting. I have been delivered an affidate of mailing establishing that notice of this meeting was duly given. A copy of the notice of the meeting and the affidavit of mailing will be incorporated into the minutes of the meeting. All stockholders of record at the close of business on August 13, 2026, are entitled to vote at this meeting. Our first order of business is to determine whether the shares represented at the meeting, either virtually or by proxy, are sufficient to constitute a quorum for the purpose of transacting business. I can confirm that holders of 33,193,401 shares of common stock of the company are entitled to vote at this meeting. There are represented virtually or by proxy, more than 50% of all the shares entitled to vote at this meeting. Therefore, we have a quorum. The next order of business is a description of the matters to be voted on at today's meeting. The first proposal to be voted on is the election of directors; Eric Singer, William C. Morton, Frederick Walsh, Elias Nader and Emily S. Hoffman to serve until the Annual Meeting of Stockholders for fiscal year 2027, and and until their successors are duly elected and qualified. The second proposal to be voted on is the ratification of BDO USA PC to serve as the independent registered public accounting firm for the company for fiscal year ending April 30, 2027. The third proposal to be voted on is an advisory vote on the compensation of our named executive officers. I now declare the polls open. Please remember that if you've already sent in your proxy card or voted by Internet or telephone, your shares have been voted accordingly. You do not need to vote today unless you are voting for the first time or want to change your previous vote. If you have not yet voted and wish to vote or if you wish to revoke or change your vote, you may vote by following the instructions on the meeting website. As all ballots and proxies have been delivered, I now declare the polls closed. Based upon preliminary vote totals, all director nominees have been elected as directors to serve until the Annual Meeting of Stockholders for fiscal year 2027, the appointment of BDO USA PC as our auditors for the year ending April 30, 2027, has been ratified and an advisory vote has been cast in favor of the compensation of our named executive officers. The final vote will be included in a Form and will be filed with the Securities and Exchange Commission on or before October 13, 2026. The Board has no other business to bring before this meeting. And under the bylaws, no other business may be presented. Accordingly, the formal business of the meeting is completed. I thank you all for your attendance and cooperation. We welcome and appreciate your participation. Thank you very much. I now declare the annual meeting adjourned.

This concludes the meeting. You may now disconnect.