Immersion faces Nasdaq notice over delayed 10-K

Immersion Corporation reported that on August 20, 2025 it received a Nasdaq notice because it did not timely file its Annual Report on Form 10-K for the fiscal year ended April 30, 2025, as required by Nasdaq Listing Rule 5250(c)(1).

Rhea-AI Filing Summary

Immersion Corporation reported that on August 20, 2025 it received a Nasdaq notice because it did not timely file its Annual Report on Form 10-K for the fiscal year ended April 30, 2025, as required by Nasdaq Listing Rule 5250(c)(1).

The company has 60 calendar days from the date of the notice to submit a plan to Nasdaq to regain compliance. Its ability to complete and file the Form 10-K depends on an ongoing audit committee internal investigation at subsidiary Barnes & Noble Education, Inc. and the consolidation of that subsidiary’s financial information.

Immersion’s common stock will continue to trade on The Nasdaq Stock Market during this 60-day grace period, as long as the company continues to meet Nasdaq’s other listing requirements. The company issued a press release on August 22, 2025 describing the Nasdaq notification.

Positive

• None.

Negative

• Nasdaq noncompliance notice: Immersion did not timely file its Form 10-K for the year ended April 30, 2025, prompting a Nasdaq Listing Rule 5250(c)(1) deficiency notice and a 60-day deadline to present a compliance plan.
• Ongoing internal investigation affecting reporting: An audit committee internal investigation at subsidiary Barnes & Noble Education, Inc. is preventing completion of financial reporting and consolidation, extending uncertainty around the company’s annual financial statements.

Insights

Equity & Listing Standards Analyst

Immersion faces Nasdaq noncompliance risk due to a delayed 10-K tied to an internal investigation.

Immersion Corporation disclosed it failed to timely file its Form 10-K for the year ended April 30, 2025, triggering a Nasdaq notice under Listing Rule 5250(c)(1). The company now has 60 calendar days from August 20, 2025 to submit a compliance plan, placing formal timing pressure on completing its financial reporting.

The delay is linked to an audit committee internal investigation at subsidiary Barnes & Noble Education, Inc., which has prevented management from finishing the financial reporting process and consolidating the subsidiary’s financial information. Until that work is completed, the annual report cannot be filed, prolonging uncertainty around full-year financials.

During the grace period, Immersion’s common stock continues trading on Nasdaq, provided other listing standards are met. The eventual outcome will depend on completion of the internal investigation and the company’s ability to file the Form 10-K and present an acceptable remediation plan to Nasdaq.

8-K Event Classification

Item 3.01 — Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

1 item

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing Securities

The company received a delisting notice, failed to satisfy a continued-listing rule or standard, or transferred its listing.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Why did Immersion Corporation (IMMR) receive a Nasdaq notice in August 2025?

Immersion Corporation received a Nasdaq notice on August 20, 2025 because it did not timely file its Annual Report on Form 10-K for the fiscal year ended April 30, 2025, as required under Nasdaq Listing Rule 5250(c)(1).

How long does Immersion Corporation have to regain Nasdaq compliance?

Immersion has 60 calendar days from August 20, 2025 to submit to Nasdaq a plan to regain compliance with Listing Rule 5250(c)(1) related to its delayed Form 10-K filing.

What is causing Immersion Corporation’s delay in filing its Form 10-K for April 30, 2025?

The delay is tied to an audit committee internal investigation at subsidiary Barnes & Noble Education, Inc., which has made management unable to complete the financial reporting process and preparation of consolidated financial statements for the fiscal year ended April 30, 2025.

Will Immersion Corporation’s stock remain listed on Nasdaq during this issue?

Yes. The company stated that its common stock will continue to be listed and traded on The Nasdaq Stock Market during the 60-day grace period, subject to compliance with other continued listing requirements.

What period does the delayed Immersion Corporation Form 10-K cover?

The delayed Form 10-K is for Immersion Corporation’s fiscal year ended April 30, 2025.

Did Immersion Corporation make a public announcement about the Nasdaq notification?

Yes. The company issued a press release dated August 22, 2025 describing its receipt of the Nasdaq notification letter, which is filed as Exhibit 99.1.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/22/2025 - 04:29 PM Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

August 20, 2025

Date of Report (Date of earliest event reported)

IMMERSION CORPORATION

(Exact name of Registrant as specified in its charter)

Delaware		001-38334		94-3180138
(State or other jurisdiction of incorporation)		(Commission file number)		(I.R.S. Employer Identification No.)

2999 N.E. 191st Street, Suite 610, Aventura, FL 33180

(Address of principal executive offices and zip code)

(408) 467-1900

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8‑K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2. below):

	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.001 par value per share	IMMR	The Nasdaq Global Market
Series B Junior Participating Preferred Stock Purchase Rights

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b–2 of the Securities Exchange Act of 1934 (§240.12b–2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On August 20, 2025, Immersion Corporation (the “Company”) received written notice (the “Nasdaq Notification Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it did not timely file its Annual Report on Form 10-K for the fiscal year ended April 30, 2025 (the “Form 10-K”), as required for continued listing on The Nasdaq Stock Market pursuant to Nasdaq Listing Rule 5250(c)(1). Under Nasdaq rules, the Company has 60 calendar days from the date of the Nasdaq Notification Letter to submit to Nasdaq a plan to regain compliance with Nasdaq Listing Rule 5250(c)(1).

As previously reported on the Company’s Notification of Late Filing on Form 12b-25, filed with the Securities and Exchange Commission on July, 30, 2025, Barnes & Noble Education, Inc. (“BNED”), a subsidiary of the Company, is conducting an audit committee internal investigation that rendered management unable to complete the Company’s financial reporting process and preparation of its financial statements for the fiscal year ended April 30, 2025. The Company is working diligently to complete the necessary work to file the Form 10-K as soon as practicable to regain compliance with Nasdaq Listing Rule 5250(c)(1), but the Company’s ability to file the Form 10-K remains subject to BNED’s completion of its audit committee internal investigation and the consolidation of BNED’s financial information.

The Company’s common stock will continue to be listed and traded on The Nasdaq Stock Market during the 60-day grace period, subject to its compliance with the other continued listing requirements of The Nasdaq Stock Market.

A press release, dated August 22, 2025, disclosing the Company’s receipt of the Nasdaq notification letter referenced above is attached hereto as Exhibit 99.1.

Forward-Looking Statements

Certain statements made in this report constitute forward-looking statements within the meaning of the federal securities laws. All statements contained in this report that do not relate to matters of historical fact should be considered forward-looking statements. For example, forward-looking statements include, without limitation, statements regarding the Company’s anticipated filing of its Form 10-K. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees and are subject to risks described from time to time in the Company’s periodic filings with the SEC. The forward-looking statements included in this report are made only as of the date of this report, and, unless otherwise required by applicable law, the Company assumes no obligation to update any forward-looking statements, and expressly disclaims any obligation to do so, whether as a result of new information, future events or otherwise.

Item 9.01 Financial Statements and Exhibits.

(a)Exhibits.

Exhibit No.	Description
99.1	Press Release, dated August 22, 2025.
104	Cover Page Interactive Data (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			IMMERSION CORPORATION
Date:	August 22, 2025	By:	/s/ J. Michael Dodson
		Name:	J. Michael Dodson
		Title:	Chief Financial Officer