On December 22, 2023, Universal Electronics Inc. announced that it has entered into a cooperation agreement with Immersion Corporation and certain of its affiliates. The Company stated that under the terms of the agreement, the Company?s board of directors has appointed Eric Singer, President, Chief Executive Officer and Chairman of Immersion Corporation, as a new independent director, to serve as a Class II director, filling an existing vacancy on the Board. The Company added that the Board appointed Eric Singer to the Board?s Compensation Committee and would nominate Eric Singer for election to the Board at the Company?s 2024 annual meeting of stockholders.

The Company also stated that under the terms of the agreement, Immersion Corporation has the right to identify one additional member for appointment to the Board effective immediately following the Company?s 2025 annual meeting of stockholders.