Immersion Announces 10b5-1c Stock Trading Plan.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif. -- Immersion Corporation Immersion Corporation of San Jose, California, is a developer of haptic technology. The company was founded in 1993.[1] Immersion's technology is employed in automotive, entertainment, medical training, mobility, personal computing, and three-dimensional (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :IMMR IMMR Internal Memory Map Register ), a leading developer and licensor of touch feedback technology, today announced that the Company's Chief Financial Officer and Vice President of Finance, Stephen Ambler, has entered into a stock trading plan in accordance with Rule 10b5-1c of the Securities and Exchange Act of 1934. Rule 10b5-1 plans may only be entered into when the officer or director is not in possession of material, non-public information. The rule permits officers and directors of public companies to adopt predetermined pre·de·ter·mine v. pre·de·ter·mined, pre·de·ter·min·ing, pre·de·ter·mines v.tr. 1. To determine, decide, or establish in advance: plans for the future sale of specified amounts of securities, on specified dates and at specified prices, on a non-discretionary basis, even if subsequent material and non-public information becomes available. Using these plans, insiders can gradually diversify their investment portfolios, can spread stock trades out over an extended period of time to reduce any market impact, and can avoid concerns about whether they had material, non-public information when they sold their stock. The stock trading plan adopted by Mr. Ambler will permit him to simultaneously exercise stock options and sell up to 75,000 shares of Company common stock. Trading under the plan will not begin earlier than November 8, 2007, and the plan terminates upon the earlier of the sale of the shares and November 3, 2008. Whenever any sales of shares are made by Mr. Ambler pursuant to his stock trading plan, the actual sales will be reported through required Form 4 filings with the Securities and Exchange Commission. About Immersion immersion /im·mer·sion/ (i-mer´zhun) 1. the plunging of a body into a liquid. 2. the use of the microscope with the object and object glass both covered with a liquid. (www.immersion.com) Founded in 1993, Immersion Corporation is a recognized leader in developing, licensing, and marketing digital touch technology and products. Using Immersion's advanced touch feedback technology, electronic user interfaces can be made more productive, compelling, entertaining, or safer. Immersion's technology is deployed across automotive, entertainment, industrial controls, medical training, mobility, and three-dimensional simulation markets. Immersion's patent portfolio includes over 600 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 United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and other countries. All other trademarks are the property of their respective owners. |
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