Immersion is the primary beneficiary of Barnes & Noble Education and as a result, consolidates the financial results of Barnes & Noble Education and reports a noncontrolling interest representing BNED Common Stock held by other Barnes & Noble Education’s stockholders. Changes in Immersion’s ownership interest in Barnes & Noble Education while Immersion retains its controlling interest in Barnes & Noble Education are accounted for as equity transactions.

The following table summarizes the ownership interest in Barnes & Noble Education:


	January 31, 2026
	Shares Owned		% of Ownership
Immersion		11,208,746		32.7	%
Noncontrolling Interest		23,085,823		67.3	%
Total BNED Common Stock outstanding		34,294,569		100.0	%

The weighted average ownership percentages for the applicable reporting periods are used to attribute net income to the non-controlling interest holders and were as follows:


	Nine Months Ended			From June 10, 2024 to
	January 31, 2026			January 31, 2025
				As Restated
Noncontrolling interest's weighted-average ownership percentage		67.1	%		63.9	%

The following table summarizes the effect of changes in ownership of Barnes & Noble Education on the Company’s equity for the periods presented (in thousands):


	Three Months Ended January 31,						Nine Months Ended		From June 10, 2024 to
	2026			2025			January 31, 2026		January 31, 2025
				As Restated					As Restated
Net Income (loss) attributable to Immersion stockholders	$	(10,266	)	$	24,061		$	795	$	81,942
Transfers from (to) noncontrolling interest:
Increase (decrease) in additional paid-in capital as a result of common stock issuances pursuant to vesting of equity awards, and sales of common stock		505			(1,836	)		505		53,434
Total effect of changes in ownership interest on equity attributable to Immersion stockholders	$	(9,761	)	$	22,225		$	1,300	$	135,376