Company: DMRC
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001437749-25-034816
Chunk: 19

Company: Digimarc CORP
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 19
---
 PRSU awards vested is as follows:

       Three Months Ended September 30,    Nine Months Ended September 30,  
   2025    2024    2025    2024  
 Fair value of PRSU awards vested  $—  $—  $1,707  $2,370 

   6. Shareholders’ Equity
    
   Registered Direct Offering
    
   On  February 24, 2024, the Company entered into purchase agreements with certain investors providing for the issuance and sale by the Company of 929 shares of common stock in a registered direct stock offering. The common shares were offered at a price of $35.00 per share, and the gross cash proceeds to the Company were $32,500. We incurred $282 of legal costs related to the offering. The closing of the registered direct offering occurred on  February 27, 2024.
    
   Employee Stock Purchase Plan
    
   On  February 25, 2025, the Company’s Board of Directors adopted the 2025 Employee Stock Purchase Plan (“ESPP”). The Company reserved a total of 250 thousand shares and as of  September 30, 2025, there were 250 thousand shares authorized and available for future issuance under the ESPP. Subject to any plan limitations, the ESPP allows eligible employees to contribute, normally through payroll deductions, up to 15% of their salary for the purchase of the Company’s common stock at a discounted price per share. The Company’s current offering period began on  June 16, 2025, with the first purchase period ending on  December 15, 2025. The stock-based compensation expense and payroll withholding for the ESPP during the three and nine months ended  September 30, 2025 were not material. 
    
   Incentive Plan Amendment
    
   On  May 7, 2025, the Company’s shareholders approved an amendment to the Digimarc Corporation 2018 Stock Incentive Plan (as amended, the “2018 Plan”) to, among other things, increase the number of shares authorized for issuance by 950 thousand shares. 

       14

        DIGIMARC CORPORATION

        NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

        (In thousands, except per share data)

        (UNAUDITED