Immersion Corporation announced the directors considered the Company's streamlined operations and footprint, and the fact that, as of February 2, 2021, it had less than 50 full-time employees. The directors also weighed the use of the Company's cash for director fees, against the Company's burn rate and operating expenses. In connection with these discussions about right-sizing the Board to better align with the structure of the company, on April 1, 2021, directors Stephen Domenik, Franz Fink, Matthew Frey and Sharon Holt notified the Board that they would decline to stand for re-election at the 2021 Annual Meeting. Furthermore, on April 1, 2021, the Board approved reducing the size of the Board to four directors, effective immediately prior to the start of the 2021 Annual Meeting.