IMMERSION CORP 8-K

What Happened

• Immersion Corporation announced on an 8‑K that on December 23, 2025 Nasdaq’s Listing Qualifications Department notified the company it did not timely file its Quarterly Report on Form 10‑Q for the quarter ended October 31, 2025. Nasdaq previously notified Immersion on August 20, 2025 that it did not timely file its Annual Report on Form 10‑K for the fiscal year ended April 30, 2025, and on September 29, 2025 for the 10‑Q for the quarter ended July 31, 2025.
• The filings (Form 10‑K for year ended April 30, 2025; Q1 10‑Q for quarter ended July 31, 2025; Q2 10‑Q for quarter ended October 31, 2025) are required for continued Nasdaq listing. Immersion said the delays are due to audit committee investigations at Immersion and consolidated subsidiary Barnes & Noble Education, Inc. (BNED) that will result in a restatement of previously issued financials.

Key Details

• Nasdaq notified Immersion on: August 20, 2025 (10‑K), September 29, 2025 (Q1 10‑Q), and December 23, 2025 (Q2 10‑Q).
• Immersion must submit an updated plan to regain compliance by January 7, 2026 (update to a plan originally submitted October 20, 2025).
• Reason for delay: ongoing audit‑committee investigations and work related to a restatement, and the company’s ability to file remains subject to consolidation of BNED’s financial information.
• Immersion’s common stock will remain listed and traded on Nasdaq for now, provided it meets other Nasdaq requirements. The company attached a press release dated December 26, 2025 (Exhibit 99.1).

Why It Matters

• For investors, these notices mean Immersion has not filed required financial reports, limiting access to current audited financial information and creating uncertainty until the restatement and filings are complete.
• Nasdaq notices can lead to delisting if the company does not satisfy listing rules or submit an acceptable compliance plan by the deadline; Immersion’s next formal step is the January 7, 2026 plan update.
• The underlying cause — audit committee investigations and a forthcoming restatement involving BNED — could materially affect prior reported results and should be monitored as the company completes the restatement and files the delayed reports.