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. Any 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 summarizes the ownership of BNED Common Stock as of the periods presented below:


	April 30, 2026					April 30, 2025
	Shares		Ownership %			Shares		Ownership %
Immersion		11,208,746		32.6	%		11,208,746		32.9	%
Noncontrolling interest		23,220,964		67.4	%		22,845,101		67.1	%
Total BNED Common Stock outstanding		34,429,710		100.0	%		34,053,847		100.0	%

The weighted average ownership percentages are used to attribute net income (loss) to the noncontrolling interests and were as follows:


	Fiscal Year Ended April 30, 2026			From June 10, 2024 to April 30, 2025
Noncontrolling interest's weighted-average ownership percentage		67.4	%		59.7	%

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


	Fiscal Year Ended April 30, 2026		From June 10, 2024 to April 30, 2025
Net income (loss) attributable to Immersion stockholders	$	4,524	$	64,284
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		313		56,444
Total effect of changes in ownership interest on equity attributable to Immersion stockholders	$	4,837	$	120,728