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STOCKHOLDERS' EQUITY | 3 Months Ended
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Jul. 31, 2025
STOCKHOLDERS' EQUITY |
STOCKHOLDERS' EQUITY | 14. STOCKHOLDERS’ EQUITY Immersion Stock Repurchase Program On December 29, 2022, the Board approved a stock repurchase program of up to $50.0 million of our common stock for a period of up to twelve months (the “December 2022 Stock Repurchase Program”), which terminated and superseded the stock repurchase program that had been approved by the Board on February 23, 2022. Any stock repurchases may be made through open market and privately negotiated transactions, at such times and in such amounts as management deems appropriate, including pursuant to one or more Rule 10b5-1 trading plans adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Additionally, the Board authorized the use of any derivative or similar instrument to effect stock repurchase transactions, including without limitation, accelerated share repurchase contracts, equity forward transactions, equity option transactions, equity swap transactions, cap transactions, collar transactions, naked put options, floor transactions or other similar transactions or any combination of the foregoing transactions. The December 2022 Stock Repurchase Program was implemented as a method to return value to our stockholders. The timing, pricing and sizes of any repurchases will depend on a number of factors, including the market price of our common stock and general market and economic conditions. The December 2022 Stock Repurchase Program does not obligate us to repurchase any dollar amount or number of shares, and the program may be suspended or discontinued at any time. The December 2022 Stock Repurchase Program has been amended various times and the most recent amendment extended the expiration date to December 29, 2026. During the three months ended July 31, 2025, the Company did not purchase shares under the December 2022 Stock Repurchase Program. As of July 31, 2025, the Company had $40.6 million available for repurchase under the December 2022 Stock Repurchase Program. Barnes & Noble Education Stock Repurchase Program On December 14, 2015, the Board of Directors authorized a stock repurchase program of up to $50 million in the aggregate outstanding Barnes & Noble Education’s common stock (“BNED’s Common Stock”). The stock repurchase program is carried out at the direction of Barnes & Noble Education’s management (which may include a plan under Rule 10b5-1 of the Securities Exchange Act of 1934). The stock repurchase program may be suspended, terminated, or modified at any time. Any repurchased shares will be held as treasury stock and will be available for general corporate purposes. During the three months ended July 31, 2025, Barnes & Noble Education did not purchase shares under the stock repurchase program. As of July 31, 2025, approximately $26.7 million remains available under the stock repurchase program. Immersion Dividends Declared and Dividend Payments
Announcement Date |  | Dividend Type |  | Amount per Share |  |  | Record Date |  | Payment Date
November 13, 2023 |  | Quarterly (increased) |  |  | 0.045 |  |  | January 14, 2024 |  | January 25, 2024
March 7, 2024 |  | Quarterly |  | $ | 0.045 |  |  | April 12, 2024 |  | April 19, 2024
May 8, 2024 |  | Quarterly |  | $ | 0.045 |  |  | July 8, 2024 |  | July 26, 2024
August 20, 2024 |  | Quarterly |  |  | 0.045 |  |  | October 4, 2024 |  | October 18, 2024
November 8, 2024 |  | Special |  |  | 0.245 |  |  | January 10, 2025 |  | January 24, 2025
March 10, 2025 |  | Quarterly |  |  | 0.045 |  |  | April 14, 2025 |  | April 25, 2025
July 8, 2025 |  | Quarterly |  |  | 0.045 |  |  | July 23, 2025 |  | August 8, 2025
October 8, 2025 |  | Quarterly |  |  | 0.045 |  |  | October 20, 2025 |  | October 31, 2025
December 8, 2025 |  | Quarterly (increased) |  |  | 0.075 |  |  | January 19, 2026 |  | January 30, 2026
Future dividends will be subject to further review and approval by the Board in accordance with applicable law. The Board reserves the right to adjust or withdraw the quarterly dividend in future periods as it reviews our capital allocation strategy from time to time. During the three months ended July 31, 2025, the Company paid no dividends and during the three months ended July 31, 2024, the Company paid $1.5 million in dividends.

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