# EDGAR Filing Document

**Accession Number:** 0001438231
**File Stem:** 0001193125-26-260762
**Filing Date:** 2026-6
**Character Count:** 115141
**Document Hash:** fd9877fe0e546f065b61fefb169bfd78
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-260762.hdr.sgml**: 20260608

**ACCESSION NUMBER**: 0001193125-26-260762

**CONFORMED SUBMISSION TYPE**: 424B5

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260608

**DATE AS OF CHANGE**: 20260608

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Old Digimarc CORP
- **CENTRAL INDEX KEY:** 0001438231
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 262828185
- **STATE OF INCORPORATION:** OR
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 424B5
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-272903
- **FILM NUMBER:** 261071112

**BUSINESS ADDRESS:**
- **STREET 1:** 8500 SW CREEKSIDE PLACE
- **CITY:** BEAVERTON
- **STATE:** OR
- **ZIP:** 97008
- **BUSINESS PHONE:** 503-469-4800

**MAIL ADDRESS:**
- **STREET 1:** 8500 SW CREEKSIDE PLACE
- **CITY:** BEAVERTON
- **STATE:** OR
- **ZIP:** 97008

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Digimarc CORP
- **DATE OF NAME CHANGE:** 20080909

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DMRC CORP
- **DATE OF NAME CHANGE:** 20080620
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Digimarc Corp
- **CENTRAL INDEX KEY:** 0002119322
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 414528284
- **STATE OF INCORPORATION:** OR
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 424B5
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-272903-01
- **FILM NUMBER:** 261071113

**BUSINESS ADDRESS:**
- **STREET 1:** 8500 SW CREEKSIDE PLACE
- **CITY:** BEAVERTON
- **STATE:** OR
- **ZIP:** 97008
- **BUSINESS PHONE:** 503 469 4721

**MAIL ADDRESS:**
- **STREET 1:** 8500 SW CREEKSIDE PLACE
- **CITY:** BEAVERTON
- **STATE:** OR
- **ZIP:** 97008

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Digimarc Parent, Inc.
- **DATE OF NAME CHANGE:** 20260313

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Deschutes Parent, Inc.
- **DATE OF NAME CHANGE:** 20260311

##### [**Table of Contents**](#toc)
**Filed Pursuant to Rule 424(b)(5) <br>Registration No. 333-272903** 

**PROSPECTUS SUPPLEMENT** 

(To Prospectus dated July 19, 2023)

## DIGIMARC CORPORATION
![LOGO](g326733g01c01.jpg)

**Common Stock** 

**Having an Aggregate Offering Price of Up to** 

**$17,500,000** 

On June 8, 2026, we entered into a sales agreement (the "Sales Agreement") with Needham & Company, LLC ("Needham & Company" or the "Sales Agent") relating to the issuance and sale of shares of common stock of Digimarc Corporation offered by this prospectus supplement and the accompanying prospectus. In accordance with the terms of the Sales Agreement, we may from time to time offer and sell shares of common stock having an aggregate offering price of up to $17,500,000 through Needham & Company.

Our common stock is listed on the Nasdaq Global Select Market under the symbol "DMRC." The last reported sale price of our common stock on the Nasdaq Global Select Market on June 5, 2026 was $13.63 per share.

Sales of the shares of common stock, if any, under this prospectus supplement and the accompanying prospectus may be made in negotiated transactions or transactions that are deemed to be "at the market" offerings as defined in Rule 415 under the Securities Act of 1933, as amended (the "Securities Act"). Needham & Company is not required to sell any specific number or dollar amount of shares of common stock, but will act as the Sales Agent and may make sales directly on the Nasdaq Global Select Market or sales to or through a market maker other than on an exchange. The Sales Agent will make all sales on a reasonable efforts basis using commercially reasonable efforts consistent with its normal trading and sales practices, on mutually agreed terms between the Sales Agent and us.

Needham & Company will receive from us a commission equal to 3.00% of the gross sales price per share of common stock for shares sold through our Sales Agent under the Sales Agreement. In connection with the sale of the shares of common stock on our behalf, Needham & Company may be deemed to be an "underwriter" within the meaning of the Securities Act, and the compensation of Needham & Company may be deemed to be underwriting commissions or discounts. We have also agreed to provide indemnification and contribution to the Sales Agent with respect to certain liabilities. See "Plan of Distribution" beginning on page S-12 for additional information regarding the compensation to be paid to the Sales Agent.

**Investing in our common stock involves a high degree of risk. See "[Risk Factors](#supptx326733_5)" beginning on page S-8 of this prospectus supplement and on page 3 of the accompanying prospectus, as well as the documents incorporated by reference herein and therein.** 

**Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense.** 

**Needham & Company**

**The date of this prospectus supplement is June 8, 2026.** 

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##### [**Table of Contents**](#toc)
**TABLE OF CONTENTS** 

Prospectus Supplement

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| | |
|:---|:---|
|  | Page |
|  [ABOUT THIS PROSPECTUS SUPPLEMENT](#supptx326733_1) | S-1 |
|  [FORWARD-LOOKING STATEMENTS](#supptx326733_2) | S-3 |
|  [SUMMARY](#supptx326733_3) | S-5 |
|  [THE OFFERING](#supptx326733_4) | S-7 |
|  [RISK FACTORS](#supptx326733_5) | S-8 |
|  [USE OF PROCEEDS](#supptx326733_6) | S-10 |
|  [DILUTION](#supptx326733_7) | S-10 |
|  [PLAN OF DISTRIBUTION](#supptx326733_8) | S-12 |
|  [LEGAL MATTERS](#supptx326733_9) | S-14 |
|  [EXPERTS](#supptx326733_10) | S-14 |
|  [WHERE YOU CAN FIND MORE INFORMATION](#supptx326733_11) | S-14 |
|  [INCORPORATION OF CERTAIN INFORMATION BY REFERENCE](#supptx326733_12) | S-15 |

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Prospectus

---

| | |
|:---|:---|
|  | Page |
|  [ABOUT THIS PROSPECTUS](#toc326733_1) | 1 |
|  [THE COMPANY](#toc326733_2) | 2 |
|  [RISK FACTORS](#toc326733_3) | 3 |
|  [FORWARD-LOOKING STATEMENTS](#toc326733_4) | 3 |
|  [USE OF PROCEEDS](#toc326733_5) | 5 |
|  [DILUTION](#toc326733_6) | 5 |
|  [DESCRIPTION OF CAPITAL STOCK](#toc326733_7) | 5 |
|  [DESCRIPTION OF WARRANTS](#toc326733_8) | 8 |
|  [DESCRIPTION OF DEBT SECURITIES](#toc326733_9) | 9 |
|  [PLAN OF DISTRIBUTION](#toc326733_10) | 11 |
|  [LEGAL MATTERS](#toc326733_11) | 12 |
|  [EXPERTS](#toc326733_12) | 12 |
|  [WHERE YOU CAN FIND MORE INFORMATION](#toc326733_13) | 12 |
|  [INCORPORATION OF CERTAIN INFORMATION BY REFERENCE](#toc326733_14) | 13 |

---

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##### [**Table of Contents**](#toc)
**ABOUT THIS PROSPECTUS SUPPLEMENT** 

This prospectus supplement and the accompanying prospectus dated July 19, 2023 are part of a registration statement on Form S-3 that we filed with the U.S. Securities and Exchange Commission (the "SEC") under the Securities Act, utilizing a "shelf" registration or continuous offering process. Under this shelf registration process, we may, from time to time, offer and sell in one or more offerings any securities described in the accompanying prospectus. Under this prospectus supplement, we may from time to time sell shares of our common stock having an aggregate offering price of up to $17,500,000, at prices and on terms to be determined by market conditions at the time of the offering.

This document is in two parts. The first part is this prospectus supplement, which describes the specific terms of this offering and also adds to and updates information contained in the accompanying base prospectus and the documents incorporated by reference into this prospectus supplement and the accompanying prospectus. The second part is the accompanying base prospectus, which gives more general information, some of which may not apply to this common stock offering. Generally, when we refer to the "prospectus," we are referring to both parts combined. If information in the prospectus supplement conflicts with information in the accompanying base prospectus, you should rely on the information in this prospectus supplement.

Any statement made in this prospectus supplement or in a document incorporated or deemed to be incorporated by reference into this prospectus supplement will be deemed to be modified or superseded for purposes of this prospectus supplement to the extent that a statement contained in this prospectus supplement or in any other subsequently filed document that is also incorporated by reference into this prospectus supplement modifies or supersedes that statement. Any statements so modified or superseded will be deemed not to constitute a part of this prospectus supplement except as so modified or superseded. Before you invest, you should carefully read this prospectus and the information contained in the documents we refer to under the headings "Where You Can Find More Information" and "Incorporation of Certain Information by Reference."

**We have not, and the Sales Agent has not, authorized anyone to provide you with any information other than that contained or incorporated by reference in this prospectus supplement, the accompanying prospectus or in any free writing prospectus that we have authorized for use in connection with this offering. Neither we nor the Sales Agent take any responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. The information contained in this prospectus supplement, the accompanying prospectus, any free writing prospectus that we have authorized for use in connection with this offering, including the documents incorporated by reference herein or therein, is accurate only as of the respective dates thereof, regardless of the time of delivery of this prospectus supplement and the accompanying prospectus or of any sale of our common stock. Our business, financial condition, results of operations and prospects may have changed since those dates. It is important for you to read and consider all information contained in this prospectus supplement, the accompanying prospectus and any free writing prospectus that we have authorized for use in connection with this offering, including the documents incorporated by reference herein and therein, in their entirety before making your investment decision. You should also read and consider the information in the documents to which we have referred you in the sections titled "Where You Can Find More Information" and "Incorporation of Certain Information by Reference" in this prospectus supplement and in the accompanying prospectus.** 

We further note that the representations, warranties and covenants made by us in any agreement that is filed as an exhibit to any document that is incorporated by reference herein were made solely for the benefit of the parties to such agreement, including, in some cases, for the purpose of allocating risk among the parties to such agreements, and should not be deemed to be a representation, warranty or covenant to you. Moreover, such representations, warranties or covenants were accurate only as of the date when made. Accordingly, such representations, warranties and covenants should not be relied on as accurately representing the current state of our affairs.

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This prospectus supplement and the accompanying prospectus contain summaries of certain provisions contained in some of the documents described herein, but reference is made to the actual documents for complete information. All of the summaries are qualified in their entirety by the actual documents. Copies of some of the documents referred to herein have been or will be filed as exhibits to the registration statement of which this prospectus supplement is a part or as exhibits to documents incorporated by reference herein, and you may obtain

copies of those documents as described below under the headings "Where You Can Find More Information" and "Incorporation of Certain Information by Reference."

We and the Sales Agent are offering to sell, and seeking offers to buy, shares of our common stock only in jurisdictions in which offers and sales are permitted. The distribution of this prospectus supplement and the accompanying prospectus and the offering of the common stock in certain jurisdictions may be restricted by law. Persons outside the United States who come into possession of this prospectus supplement and the accompanying prospectus must inform themselves about, and observe any restrictions relating to, the offering of common stock and the distribution of this prospectus supplement and the accompanying prospectus outside the United States. This prospectus supplement and the accompanying prospectus do not constitute, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy, any shares of common stock offered by this prospectus supplement and the accompanying prospectus by any person in any jurisdiction in which it is unlawful for such person to make such an offer or solicitation.

*Unless we otherwise specify, when used in this prospectus supplement, the terms "Digimarc," the "Company," "we," "our" and "us" refer to Digimarc Corporation and its subsidiaries, except that when such terms are used in this prospectus supplement in reference to the common stock, they refer specifically to Digimarc Corporation.* 

Digimarc, the Digimarc logo and our other registered or common law trademarks, trade names or service marks appearing in this prospectus supplement, the accompanying prospectus and the information incorporated by reference herein and therein are owned by us. This prospectus supplement, the accompanying prospectus and the information incorporated by reference herein and therein may contain references to our trademarks and to trademarks belonging to other entities. Solely for convenience, trademarks and trade names referred to in this prospectus supplement and the accompanying prospectus, including logos, artwork and other visual displays, generally appear without the <sup>®</sup> or TM symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensor to these trademarks and trade names. We do not intend our use or display of other companies' trade names or trademarks to imply a relationship with, or endorsement or sponsorship of us by, any other companies. All trademarks, service marks and trade names included or incorporated by reference in this prospectus supplement, the accompanying prospectus and the information incorporated by reference herein and therein are the property of their respective owners.

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##### [**Table of Contents**](#toc)
**FORWARD-LOOKING STATEMENTS** 

This prospectus supplement, the accompanying prospectus, the documents incorporated by reference and any free writing prospectus that we have authorized for use in connection with this offering include "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and we intend that such forward-looking statements be subject to the safe harbors created thereby. All statements made in this prospectus supplement, the accompanying prospectus, the documents incorporated by reference and any free writing prospectus that we have authorized for use in connection with this offering, that are not statements of historical fact are forward-looking statements. Words such as "may," "might," "plan," "should," "could," "expect," "anticipate," "intend," "believe," "project," "forecast," "estimate," "continue," and variations of such terms or similar expressions are intended to identify such forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, or other statements made by us, are made based on our expectations and beliefs concerning future events impacting us, and are subject to uncertainties and factors (including those specified below) which are difficult to predict and, in many instances, are beyond our control. As a result, our actual results could differ materially from those expressed in or implied by any such forward-looking statements, and investors are cautioned not to place undue reliance on such statements. Forward-looking statements include, but are not limited to, statements relating to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our expectations regarding the proceeds of this offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• trends and sources of future revenue;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• anticipated revenue to be generated from current contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• anticipated expenses, costs, margins, provision for income taxes and investment activities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our assumptions and expectations related to stock awards, including future stock-based compensation expense;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our belief that we have one of the world's most extensive patent portfolios in digital watermarking and
related fields;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our beliefs regarding our critical accounting policies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• business opportunities that could require that we seek additional financing and our ability to do so;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our expected short-term and long-term liquidity positions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our capital expenditure and working capital requirements and our ability to fund our capital expenditure and
working capital needs through cash flow from operations or financing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our expectations regarding our ability to meet future financial obligations as they become due within the coming
fiscal year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our use of cash, cash equivalents and marketable securities in upcoming quarters and the possibility that our
deposits of cash and cash equivalents with major banks and financial institutions may exceed insured limits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• protection, development and monetization of our intellectual property portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our beliefs related to legal proceedings and claims arising in the ordinary course of business; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• other risks detailed in our filings with the SEC, including the risk factors set forth in Part I, Item 1A of our
Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (our "2025 Annual Report").

We believe that the risk factors specified below under the heading "Risk Factors" and the risk factors identified in Part I, Item 1A of our 2025 Annual Report, among others, could affect our future performance and the liquidity and value of our securities and cause our actual results to differ materially from those expressed or

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implied by forward-looking statements made by us or on our behalf. Investors should understand that it is not possible to predict or identify all risk factors and that there may be other factors that may cause our actual results to differ materially from the forward-looking statements. You should read this prospectus supplement, the accompanying prospectus, the documents incorporated by reference and any free writing prospectus that we have authorized for use in connection with this offering completely and with the understanding that our actual future results may be materially different from what we expect. In light of the significant risks and uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by us or any other person that such results will be achieved, and readers are cautioned not to place undue reliance on such forward-looking information, which speaks only as of the date of this prospectus supplement.

Moreover, we operate in an evolving environment. New risks and uncertainties emerge from time to time and it is not possible for our management to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual future results to be materially different from those expressed or implied by any forward-looking statements.

Except as required by law, we assume no obligation to update any forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. We qualify all of our forward-looking statements by these cautionary statements.

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**SUMMARY** 

*This summary highlights information included or incorporated by reference in this prospectus supplement. It does not contain all of the information that may be important to you. Before you decide to invest in our common stock, you should carefully read and consider the more detailed information included or incorporated by reference in this prospectus supplement, the accompanying prospectus and any free writing prospectus that we have authorized for use in connection with this offering, including the risk factors included or incorporated by reference herein and therein. You also should carefully read the other information incorporated by reference into this prospectus supplement and the accompanying prospectus, including our financial statements, other information and the exhibits to the registration statement of which this prospectus supplement and the accompanying prospectus are a part.* 

**The Company** 

Digimarc is building the trust layer for the modern world. As artificial intelligence ("AI") accelerates how people produce, share, and interact with the world, the risks of fraud, counterfeiting, and misinformation are growing exponentially. The impacts of these threats are evidenced by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Consumers demanding more transparency into how, where, and by whom products are made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Brands and creators facing rampant counterfeiting and IP theft.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Retailers losing hundreds of billions of dollars annually to shrink and theft.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Enterprises experiencing an increase in information leaks and digital manipulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• AI-generated content blurring reality, sowing confusion and mistrust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Regulators increasing pressure on companies to prove product authenticity and data integrity.

Our innovative, highly scalable, and ultra-secure solutions make it possible for consumers, businesses, and intelligent systems to instantly verify what's real, protect what matters, and transact with confidence. Our solutions for retail loss prevention, product authentication, and digital trust and integrity are built to counter the speed and sophistication of today's AI-enabled threats. Trusted by a consortium of the world's central banks (the "Central Banks") to deter the counterfeiting of global currency, we exist to protect the truth in every interaction, spanning both the physical and digital worlds.

Our commercial solutions run on the Illuminate<sup>®</sup> platform—a high-performance, hyper-scalable, and ultra-secure software as a service ("SaaS") cloud-based platform for digital connectivity. Tested and trusted by the most highly demanding and mission-critical ecosystems in the world, the Illuminate platform provides the tools for the application of advanced digital watermarks and dynamic Quick Response ("QR") codes, Application Programming Interfaces ("APIs") that allow for direct integration into other mission critical systems, AI-assisted authentication workflows, and a centralized repository for capturing insights about digital interactions as well as automating activities based on that information.

The foundational digital watermarking technology used in our commercial solutions is backed by decades of innovation and inventions. It is also the same technology we use to deter digital counterfeiting of global currencies as part of our almost 30-year relationship with the Central Banks. This relationship was the first commercially successful large-scale use of our technologies and today protects hundreds of billions of banknotes in circulation around the world.

**Corporate Information** 

We were incorporated as an Oregon corporation on February 26, 2026 as Deschutes Parent, Inc. in order for our predecessor issuer, DMRC LLC (f/k/a Digimarc Corporation) ("Old Digimarc") to undergo a holding company

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reorganization pursuant to which Old Digimarc became our wholly owned subsidiary. Our corporate headquarters are located at 8500 SW Creekside Place, Beaverton, Oregon 97008. Our telephone number is (503) 469-4800. Our principal website address is www.digimarc.com. Information contained in, or accessible through, our website is not a part of this prospectus supplement and accompanying prospectus, and the inclusion of our website address herein is an inactive textual reference only. Our common stock is listed on the Nasdaq Global Select Market under the symbol "DMRC."

**Implications of Being a Smaller Reporting Company** 

We are a "smaller reporting company," meaning that the market value of our common stock held by non-affiliates is less than $250.0 million measured on the last business day of our second fiscal quarter or our annual revenue is less than $100.0 million during the most recently completed fiscal year and the market value of our common stock held by non-affiliates is less than $700.0 million measured on the last business day of our second fiscal quarter. Accordingly, we may provide less public disclosure than larger public companies, including the inclusion of only two years of audited financial statements and only two years of management's discussion and analysis of financial condition and results of operations disclosure. As a result, the information that we provide to our stockholders may be different than what you might receive from other public reporting companies in which you hold equity interests.

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**THE OFFERING** 

Issuer Digimarc Corporation

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| | |
|:---|:---|
| Common Stock Offered  | In accordance with the terms of the Sales Agreement, we may offer and sell from time to time common stock having an aggregate offering price of up to $17,500,000. |

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|:---|:---|
| Common Stock to be outstanding immediately after this offering  | 23,611,242 shares (assuming 1,283,932 shares of our common stock are sold at a price of $13.63 per share, the last reported sale price of our common stock on the Nasdaq Global Select Market on June 5, 2026). The actual number of shares issued will vary depending on the sales price under this offering. |

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Manner of Offering "At the market offering" that may be made from time to time through or to Needham & Company. See "Plan of Distribution."

Use of Proceeds We intend to use the net proceeds of this offering, after deducting the Sales Agent's commissions and our offering expenses, for working capital and other general corporate purposes. Please read "Use of Proceeds."

Nasdaq Symbol DMRC

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| | |
|:---|:---|
| Risk Factors  | An investment in our common stock involves risks. You should carefully consider each of the factors described or referred to under "Risk Factors" beginning on page S-8 of this prospectus supplement, page 3 of the accompanying prospectus and in the documents incorporated by reference into this prospectus supplement and the accompanying prospectus before you make an investment in our common stock. |

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The number of shares of common stock to be outstanding after this offering is based on 22,327,310 shares outstanding as of June 5, 2026, and excludes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an aggregate of 1,625,000 shares of our common stock reserved for future issuance under our equity incentive
plans as of June 5, 2026; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an aggregate of 189,000 shares of our common stock reserved for future issuance under our employee stock purchase
plan as of June 5, 2026.

Except as otherwise indicated, all information in this prospectus supplement and the accompanying prospectus assumes no issuance of the shares reserved under our equity incentive plans and employee stock purchase plan referred to above, no vesting and settlement of the outstanding restricted stock units referred to above, and no sales pursuant to the Sales Agreement other than this offering.

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**RISK FACTORS** 

An investment in our common stock involves a high degree of risk. The following risk factors are risks of which we are aware and that we consider to be material to this offering of shares of our common stock. You should also consider the risks, uncertainties and assumptions discussed under the heading "Risk Factors" included in Part I, Item 1A of our 2025 Annual Report and other reports that we file with the SEC, which are on file with the SEC and are incorporated herein by reference, and which may be amended, supplemented or superseded from time to time by other reports we file with the SEC in the future. You should also carefully consider the other information contained or incorporated by reference in this prospectus supplement and the accompanying prospectus, including our financial statements and the related notes, as may be updated by our subsequent filings under the Exchange Act, and in any free writing prospectus that we have authorized for use in connection with this offering before acquiring shares of our common stock. If any of these risks and uncertainties develops into actual events, our business, financial condition or results of operations and cash flows could be materially adversely affected. In that case, the trading price of our common stock could decline and you could lose all or part of your investment. Additionally, we cannot be certain or give any assurance that any actions taken to reduce known risks and uncertainties will be effective. Before investing in our common stock, you should carefully consider the risks described below, together with all of the other information contained in this prospectus supplement and the accompanying prospectus and incorporated by reference herein and therein, including from our 2025 Annual Report and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

**Risks Relating to this Offering** 

***A substantial number of shares of our common stock may be sold in this offering, which could cause the price of our common stock to decline.***

In this offering we may sell up to $17,500,000 in aggregate amount of common stock, which would represent approximately 5.75% of our outstanding common stock as of June 5, 2026, assuming the sale of shares of our common stock at an assumed offering price of $13.63 per share, the last reported sale price of our common stock on June 5, 2026 on the Nasdaq Global Select Market. This sale and any future sales and issuances of shares of our common stock, or the perception that such sales and issuances may occur, could adversely affect the price of our common stock on the Nasdaq Global Select Market.

***We do not currently intend to pay dividends on our common stock, and any return to investors is expected to come, if at all, only from potential increases in the price of our common stock.***

We currently intend to retain all of our future earnings, if any, to finance the growth and development of our business and do not anticipate declaring or paying any cash dividends for the foreseeable future. As a result, capital appreciation, if any, of our common stock will be your sole source of gain for the foreseeable future.

***If you purchase shares of our common stock sold in this offering, you will incur immediate and substantial dilution in the book value of your shares.***

The shares sold in this offering, if any, will be sold from time to time at various prices. However, we expect that the offering price of our common stock will be substantially higher than the net tangible book value per share of our outstanding common stock. For more information, see "Dilution."

***You may experience dilution if we issue additional equity securities in future fundraising transactions.***

To raise additional capital, we may in the future offer additional shares of our common stock or other securities convertible into or exchangeable for our common stock at prices that may not be the same as the price per share of shares sold in this offering. We may sell shares or other securities in any other offering at a price per

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share that is less than the price per share paid by investors in this offering, and investors purchasing shares or other securities in the future could have rights superior to existing shareholders. The price per share at which we sell additional shares of our common stock, or securities convertible or exchangeable into common stock, in future transactions may be higher or lower than the price per share paid by investors in this offering.

***Future resales of our common stock could cause the market price of our common stock to drop significantly, even if our business is doing well.***

Sales of a substantial number of shares of our common stock or other equity-related securities in the public market could occur at any time. These sales, or the perception in the market that the holders of a large number of shares intend to sell shares, could reduce the market price of our common stock or cause it to be highly volatile and impair our ability to raise capital through the sale of additional equity securities. A substantial number of shares of our common stock are being offered by this prospectus supplement, and we cannot predict if and when shares sold in this offering, if any, will be resold in the public markets or the number of shares that might be resold, if any. We cannot predict the effect that future sales of our shares of common stock or other equity-related securities would have on the market price of shares of our common stock.

***We will have broad discretion in the use of proceeds from this offering designated for working capital and general corporate purposes.***

We intend to use the net proceeds from this offering for working capital and general corporate purposes. Within those categories, we have not determined the specific allocation of the net proceeds of this offering. Our management will have broad discretion over the use and investment of the net proceeds of this offering within those categories and could spend the proceeds in ways that do not improve our results of operations or enhance the value of shares of our common stock. Accordingly, investors in this offering will need to rely upon the judgment of our management with respect to the use of proceeds.

***The actual number of shares we will issue under the Sales Agreement, at any one time or in total, is uncertain***.

Subject to certain limitations in the Sales Agreement and compliance with applicable law, we have the discretion to deliver a placement notice to the Sales Agent at any time throughout the term of the Sales Agreement. The number of shares that are sold by the Sales Agent after receiving a placement notice will fluctuate based on the market price of the common stock during the sales period and limits we set with the Sales Agent. As a result, it is not possible at this stage to predict the number of shares that will be ultimately issued or the aggregate proceeds to be raised in connection with sales under the Sales Agreement.

***The common stock offered hereby will be sold in "at the market offerings," and investors who buy shares at different times will likely pay different prices.***

Investors who purchase shares in this offering at different times will likely pay different prices, and so may experience different outcomes in their investment results. We will have discretion, subject to market demand, to vary the timing, prices, and numbers of shares sold. Investors may experience a decline in the value of their shares as a result of share sales made at prices lower than the prices they paid.

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##### [**Table of Contents**](#toc)
**USE OF PROCEEDS** 

We intend to use the net proceeds of this offering of common stock, after deducting the Sales Agent's commissions and our offering expenses, for working capital and other general corporate purposes.

We cannot specify with certainty all of the particular uses of the net proceeds that we will receive from this offering and have not quantified or allocated any specific portion of the net proceeds or range of net proceeds to any particular purpose. Accordingly, we will have broad discretion in using these proceeds.

**DILUTION** 

If you invest in our common stock in this offering, your ownership interest will be immediately diluted to the extent of the difference between the price per share you pay in this offering and the as adjusted net tangible book value per share of our common stock immediately after this offering.

Our net tangible book value as of March 31, 2026 was $9.9 million, or $0.45 per share. Net tangible book value per share is determined by dividing our total tangible assets, less total liabilities, by the total number of shares of our common stock outstanding, in each case, as of March 31, 2026. Dilution with respect to net tangible book value per share represents the difference between the assumed amount per share paid by purchasers of our common stock in this offering and the net tangible book value per share of our common stock immediately after this offering.

After giving effect to the issuance and sale of shares of our common stock in this offering in the aggregate amount of $17,500,000 at an assumed offering price of $13.63 per share, the last reported sale price of our common stock on June 5, 2026 on the Nasdaq Global Select Market, and after deducting commissions and estimated offering expenses, our as adjusted net tangible book value as of March 31, 2026 would have been approximately $26.4 million or approximately $1.13 per share. This represents an immediate increase in net tangible book value of approximately $0.68 per share to our existing shareholders and an immediate dilution in net tangible book value of approximately $12.50 per share to purchasers of our common stock in this offering. The following table illustrates this dilution on a per share basis:

The as-adjusted information set forth in the table below is illustrative only and will adjust based on the actual price to the public, the actual number of shares sold and other terms of the offering determined at the time shares of our common stock are sold pursuant to this prospectus supplement. The as-adjusted information assumes that all of our common stock in the aggregate amount of $17,500,000 is sold at the assumed offering price of $13.63 per share, the last reported sale price of our common stock on the Nasdaq Global Select Market on June 5, 2026. The shares sold in this offering, if any, will be sold from time to time at various prices.

---

| | | |
|:---|:---|:---|
|  Assumed offering price per share |  | $13.63 |
|  Net tangible book value per share as of March 31, 2026 | $0.45 |  |
|  Increase in net tangible book value per share attributable to this offering | $0.68 |  |
|  As adjusted net tangible book value per share as of March 31, 2026, after giving effect to this offering |  | $1.13 |
|  Dilution per share to investors purchasing our common stock in this offering |  | $12.5 |

---

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##### [**Table of Contents**](#toc)
The above discussion and table are based on 22,140,000 shares outstanding as of March 31, 2026, and exclude:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an aggregate of 2,517,000 shares of our common stock reserved for future issuance under our equity incentive
plans as of March 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an aggregate of 189,000 shares of our common stock reserved for future issuance under our employee stock purchase
plan as of March 31, 2026.

To the extent that equity awards outstanding as of March 31, 2026, have been or may be exercised or settled with shares, an investor purchasing shares of our common stock in this offering may experience further dilution. In addition, we may choose to raise additional capital due to market conditions or strategic considerations even if we believe we have sufficient funds for our current or future operating plans. To the extent that additional capital is raised through the sale of equity or convertible debt securities, the issuance of these securities could result in further dilution to investors.

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##### [**Table of Contents**](#toc)
**PLAN OF DISTRIBUTION** 

We have entered into a Sales Agreement with Needham & Company, acting in its capacity as the Sales Agent, relating to the sale of shares of our common stock offered by this prospectus supplement. Under this prospectus supplement, in accordance with the terms of the Sales Agreement, we may sell shares of our common stock for an aggregate offering price of up to $17,500,000 from time to time through Needham & Company, subject to certain limitations, including the number or dollar amount of shares registered under the registration statement to which the offering relates. The sales, if any, of shares made under the Sales Agreement will be made by any method that is deemed an "at the market offering" as defined in Rule 415 promulgated under the Securities Act. We may instruct Needham & Company not to sell common stock if the sales cannot be effected at or above the price designated by us from time to time. We or Needham & Company may suspend the offering of common stock upon notice and subject to other conditions.

Each time we wish to issue and sell common stock under the Sales Agreement, we will notify Needham & Company of the maximum number or dollar value of shares to be issued, the time period during which such sales are requested to be made, any limitation on the number or amount of Placement Shares that may be sold in any single day, any minimum price below which sales may not be made and other sales parameters as we deem appropriate. Once we have so instructed Needham & Company, unless it declines to accept the terms of the notice, Needham & Company has agreed to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such shares up to the amount specified on such terms. The obligations of Needham & Company under the Sales Agreement to sell our common stock are subject to a number of conditions that we must meet.

We will pay Needham & Company an aggregate commission equal to 3.0% of the gross proceeds from the sale of common stock offered hereby. In addition, we have agreed to reimburse certain expenses of Needham & Company in an amount not to exceed an aggregate of up to $100,000 in connection with the establishment of this "at the market offering" and an aggregate of $10,000 in connection with each periodic update of such "at the market offering."

In accordance with Financial Industry Regulatory Authority, Inc. Rule 5110, these fees and reimbursed expenses are deemed sales compensation in connection with this offering. We estimate that the total expenses for the offering, excluding compensation payable to Needham & Company under the terms of the Sales Agreement, will be approximately $100,000.

Settlement for sales of common stock will generally occur on the first trading day following the date on which any sales are made, or on some other date that is agreed upon by us and Needham & Company in connection with a particular transaction, in return for payment of the net proceeds to us. There is no arrangement for funds to be received in an escrow, trust or similar arrangement.

In connection with the sale of shares of our common stock on our behalf, Needham & Company may be deemed to be an "underwriter" within the meaning of the Securities Act and the compensation of Needham & Company may be deemed to be underwriting commissions or discounts. We have agreed to provide indemnification and contribution to Needham & Company against certain civil liabilities, including liabilities under the Securities Act. We have also agreed to reimburse Needham & Company for certain other specified expenses.

The offering of our common stock pursuant to this prospectus supplement will terminate upon the earlier of (i) the sale of all of our common stock provided for in this prospectus supplement or (ii) termination of the Sales Agreement as provided therein.

Our common stock is listed on the Nasdaq Global Select Market under the symbol "DMRC." On June 5, 2026, the last reported sale price of our common stock on the Nasdaq Global Select Market was $13.63 per share.

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##### [**Table of Contents**](#toc)
The transfer agent for our common stock is Broadridge Corporate Issuer Solutions.

Needham & Company and its affiliates are a full service financial institution engaged in various activities, which may include sales and trading, commercial and investment banking, financial advisory, investment management, investment research, principal investment, hedging, market making, brokerage and other financial and non-financial activities and services. Needham & Company and its affiliates have, from time to time, provided, and may in the future provide, various investment banking and other financial services for us and our affiliates, for which services they have received, and may in the future receive, customary fees. In the ordinary course of its various business activities, Needham & Company and its affiliates, officers, directors and employees may purchase, sell or hold a broad array of investments and actively trade securities, derivatives, loans, commodities, currencies, credit default swaps and other financial instruments for their own account and for the accounts of their customers, and such investment and trading activities may involve or relate to assets, securities and/or instruments of ours (directly, as collateral securing other obligations or otherwise) and/or persons and entities with relationships with us. Needham & Company and its affiliates may also communicate independent investment recommendations, market color or trading ideas and/or publish or express independent research views in respect of such assets, securities or instruments and may at any time hold, or recommend to clients that they should acquire, long and/or short positions in such assets, securities and instruments. To the extent required by Regulation M, Needham & Company will not engage in any market making activities involving our common stock while the offering is ongoing under this prospectus supplement.

Additionally, the Sales Agent and other persons participating in the sale or distribution of the securities will be subject to applicable provisions of the Exchange Act and the related rules and regulations adopted by the SEC, including Regulation M. This regulation may limit the timing of purchases and sales of any of the securities by the Sales Agent and other persons. The anti-manipulation rules under the Exchange Act may apply to sales of securities in the market and to the activities of the Sales Agent and other persons. Furthermore, Regulation M may restrict the ability of any person engaged in the distribution of the securities to engage in market-making activities with respect to the particular securities being distributed for a period of up to five business days before the distribution. These restrictions may affect the marketability of the securities and the ability of any person or entity to engage in market-making activities with respect to the securities.

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##### [**Table of Contents**](#toc)
**LEGAL MATTERS** 

The validity of the issuance of the securities offered hereby will be passed upon for us by Perkins Coie LLP, Portland, Oregon. Certain legal matters will be passed upon for the Sales Agent by White & Case LLP, New York, New York.

**EXPERTS** 

The consolidated financial statements of Digimarc Corporation as of December 31, 2025 and 2024, and for each of the years in the two-year period ended December 31, 2025, have been incorporated by reference herein in reliance upon the report of KPMG LLP, independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing.

**WHERE YOU CAN FIND MORE INFORMATION** 

We have filed with the SEC a registration statement to register the securities offered by this prospectus supplement under the Securities Act. This prospectus supplement and the accompanying prospectus are part of that registration statement, but omit some information contained in the registration statement, as permitted by SEC rules. For further information with respect to Digimarc and this offering, reference is made to the registration statement and the exhibits and any schedules filed with the registration statement. Statements contained in this prospectus supplement and the accompanying prospectus as to the contents of any document referred to are not necessarily complete and in each instance, if the document is filed as an exhibit to the registration statement, reference is made to the copy of the document filed as an exhibit to the registration statement, each statement being qualified in all respects by that reference. You may obtain copies of the registration statement, including exhibits, as noted in the paragraph below or by writing or telephoning us at:

Digimarc Corporation

8500 SW Creekside Place

Beaverton, Oregon 97008

(503) 469-4800

We file annual, quarterly and other reports, proxy statements and other information with the SEC. The SEC maintains an internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC, including us. The address of that site is http://www.sec.gov. Our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, including any amendments to those reports, and other information that we file with or furnish to the SEC pursuant to Section 13(a) or 15(d) of the Exchange Act may also be accessed free of charge by linking directly from the "Investors" page of our website at www.digimarc.com/company/investors. These filings will be available as soon as reasonably practicable after we electronically file this material with, or furnish it to, the SEC. Information contained on our website is not part of this prospectus supplement.

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##### [**Table of Contents**](#toc)
**INCORPORATION OF CERTAIN INFORMATION BY REFERENCE** 

We incorporate information into this prospectus supplement by reference, which means that we disclose important information to you by referring you to another document filed separately with the SEC. The information incorporated by reference is deemed to be part of this prospectus supplement, except for any such information superseded by information contained in later-filed documents or directly in this prospectus supplement. This prospectus supplement incorporates by reference the documents set forth below that we have previously filed with the SEC (excluding those portions of any Form 8-K that are not deemed "filed" pursuant to the General Instructions of Form 8-K). These documents contain important information about us and our financial condition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Current Reports on Form 8-K filed with the SEC on [February 12, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001438231/000143774926003950/dmrc20260212c_8k.htm) , [March 12, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001438231/000143774926008020/dmrc20260311_8k.htm) , [April 30, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001438231/000143774926014256/dmrc20260427_8k.htm) , [May 18, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001438231/000143774926017528/dmrc20260427c_8k.htm) and [May 21, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/2119322/000143774926018033/desp20260518_8k.htm) ;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The portions of our [Definitive Proxy Statement on Schedule 14A](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001438231/000143774926009586/dmrc20260317_def14a.htm) , filed on March 24, 2026, that are specifically
incorporated by reference into the Annual Report on Form 10-K for the fiscal year ended December 31, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Quarterly Report on [Form 10-Q](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001438231/000143774926016725/dmrc20260331c_10q.htm) for the fiscal quarter ended March 31, 2026, filed with the SEC on May 13, 2026;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Annual Report on [Form 10-K](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001438231/000143774926007793/dmrc20251231_10k.htm) for the year ended December 31, 2025, filed with
the SEC on March 11, 2026;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Registration Statement on [Form 8-A](http://www.sec.gov/Archives/edgar/data/1438231/000110465908064430/a08-26252_18a12b.htm) filed with the SEC on October 16, 2008; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The description of our capital stock contained in our Registration Statement on [Form 10](http://www.sec.gov/Archives/edgar/data/1438231/000104746908007643/a2186538z10-12b.htm) filed with the SEC on June 23, 2008, and [Amendment No. 1](http://www.sec.gov/Archives/edgar/data/1438231/000104746908008301/a2186908z10-12ba.htm) thereto, filed with the SEC on July 
22, 2008; [Amendment No. 2](http://www.sec.gov/Archives/edgar/data/1438231/000104746908009252/a2186908z10-12ba.htm) thereto, filed with the SEC on August 
13, 2008; [Amendment No. 3](http://www.sec.gov/Archives/edgar/data/1438231/000104746908009940/a2186908z10-12ba.htm) thereto, filed with the SEC on September 
9, 2008; [Amendment No. 4](http://www.sec.gov/Archives/edgar/data/1438231/000104746908010564/a2186908z10-12ba.htm) thereto, filed with the SEC on October 
2, 2008; [Amendment No. 5](http://www.sec.gov/Archives/edgar/data/1438231/000104746908010750/a2186908z10-12ba.htm) thereto, filed with the SEC on October 
7, 2008; and [Amendment No. 6](http://www.sec.gov/Archives/edgar/data/1438231/000104746908010841/a2186908z10-12ba.htm) thereto, filed with the SEC on October 14, 2008.

All reports and other documents we subsequently file pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act prior to the termination of this offering, but excluding any information furnished to, rather than filed with, the SEC, will also be incorporated by reference into this prospectus supplement and deemed to be part of this prospectus supplement from the date of the filing of the reports and documents.

We will provide at no cost to each person, including any beneficial owner, to whom this prospectus is delivered, upon written or oral request, a copy of any or all documents that are incorporated by reference into this prospectus, but not delivered with the prospectus, other than exhibits to the documents unless the exhibits are specifically incorporated by reference into the documents that this prospectus incorporates. You should direct written requests to: Digimarc Corporation, 8500 SW Creekside Place, Beaverton, Oregon, 97008; Attention: Charles Beck, Chief Financial Officer, Treasurer and Secretary, or you may call us at (503) 469-4800.

The information incorporated by reference is an important part of this prospectus supplement. You should rely only upon the information provided in this prospectus supplement and accompanying prospectus and the information incorporated into this prospectus supplement and accompanying prospectus by reference. We have not authorized anyone to provide you with different information. You should not assume that the information in this prospectus supplement or accompanying prospectus is accurate as of any date other than the date on the front covers of these documents.

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##### [**Table of Contents**](#toc)
**PROSPECTUS** 

## DIGIMARC CORPORATION
**$100,000,000** 

**Common Stock, Preferred Stock, Warrants, Debt Securities** 

This prospectus provides a general description of the securities we may offer from time to time and the general manner in which they may be offered. The specific terms of any securities to be offered, and any other information relating to a specific offering including the specific manner in which the securities may be offered, will be set forth in one or more supplements to this prospectus. You should read this prospectus and the related prospectus supplement carefully before you invest in our securities. No person may use this prospectus to offer and sell our securities unless a prospectus supplement accompanies this prospectus.

Our common stock is listed on the Nasdaq Global Market under the symbol "DMRC." The last reported sale price of our common stock on the Nasdaq Global Market on June 22, 2023, was $28.23 per share. We will provide information in any applicable prospectus supplement regarding any listing of securities other than shares of our common stock on any securities exchange.

We may offer and sell securities directly to investors, through agents designated from time to time or to or through underwriters or dealers. For additional information on the methods of sale, you should refer to the section entitled "Plan of Distribution" in this prospectus. If any underwriters are involved in the sale of any securities with respect to which this prospectus is being delivered, the names of the underwriters and any applicable commissions or discounts will be set forth in a prospectus supplement. The price to the public of the securities and the net proceeds we expect to receive from the sale will also be set forth in a prospectus supplement.

**Investing in our securities involves risks.** 

**See " [Risk Factors](#toc326733_3) " on page 3** 

**Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities, or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.** 

**The date of this prospectus is July 19, 2023.** 

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##### [**Table of Contents**](#toc)
**TABLE OF CONTENTS** 

---

| | |
|:---|:---|
|  | **Page** |
|  [ABOUT THIS PROSPECTUS](#toc326733_1) | 1 |
|  [THE COMPANY](#toc326733_2) | 2 |
|  [RISK FACTORS](#toc326733_3) | 3 |
|  [FORWARD-LOOKING STATEMENTS](#toc326733_4) | 3 |
|  [USE OF PROCEEDS](#toc326733_5) | 5 |
|  [DILUTION](#toc326733_6) | 5 |
|  [DESCRIPTION OF CAPITAL STOCK](#toc326733_7) | 5 |
|  [DESCRIPTION OF WARRANTS](#toc326733_8) | 8 |
|  [DESCRIPTION OF DEBT SECURITIES](#toc326733_9) | 9 |
|  [PLAN OF DISTRIBUTION](#toc326733_10) | 11 |
|  [LEGAL MATTERS](#toc326733_11) | 12 |
|  [EXPERTS](#toc326733_12) | 12 |
|  [WHERE YOU CAN FIND MORE INFORMATION](#toc326733_13) | 12 |
|  [INCORPORATION OF CERTAIN INFORMATION BY REFERENCE](#toc326733_14) | 13 |

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##### [**Table of Contents**](#toc)
**ABOUT THIS PROSPECTUS** 

This prospectus is part of a registration statement we have filed with the Securities and Exchange Commission ("SEC") using a "shelf" registration process. Using this process, we may from time to time offer and sell the securities described in this prospectus in one or more offerings. This prospectus provides you with a general description of the securities we may offer. Each time we use this prospectus to offer securities, we will file a supplement to this prospectus with the SEC that will describe the specific terms of the offering and the manner in which the securities will be offered, including the specific amounts, prices and terms of the securities offered. The prospectus supplement may also add to, update or change the information contained in this prospectus and, accordingly, to the extent inconsistent, information in this prospectus will be superseded by the information in the prospectus supplement. Before you invest, you should carefully read this prospectus, the applicable prospectus supplement and the information contained in the documents we refer to under the headings "Where You Can Find More Information" and "Incorporation of Certain Information by Reference."

**You should rely only on the information contained or incorporated by reference in this prospectus and any accompanying prospectus supplement. We have not authorized anyone to provide you with additional or different information. The prospectus may be used only for the purposes for which it has been published. If you receive any other information, you should not rely on it. You should assume that the information contained in this prospectus or any accompanying prospectus supplement is accurate only as of the date on the front cover of the applicable document. Our business, financial condition, results of operations or prospects may have changed since that date. You should not rely on or assume the accuracy of any representation or warranty in any agreement that we have filed as an exhibit to the registration statement of which this prospectus is a part or that we may otherwise publicly file in the future because any such representation or warranty may be subject to exceptions and qualifications contained in separate disclosure schedules, may represent the parties' risk allocation in the particular transaction, may be qualified by materiality standards that differ from what may be viewed as material for securities law purposes or may no longer continue to be true as of any given date. No offer of these securities is being made in any jurisdiction where such offer or sale is prohibited.** 

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##### [**Table of Contents**](#toc)
**THE COMPANY** 

Digimarc Corporation ("Digimarc," "we", "our," and "us") is a global leader in product digitization, delivering business value across industries through unique identities and cloud-based solutions. Our technology highlights a product's journey to provide greater visibility into all relevant product data, allowing companies to make more intelligent business decisions.

The Digimarc product suite is built on top of the Digimarc Illuminate Platform to address specific business needs. All our products are complementary to each other, providing exponential benefits when combined. By enabling customers to create digital identities for physical and digital media objects, Digimarc's technologies provide many benefits, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Digimarc Validate** protects product authenticity to ensure real products are in the right place. Our
technology delivers exclusive, covert digital watermarks and/or QR codes and a cloud-based record of product authentication information. In addition, consumer engagement capabilities provide a direct digital communications channel with consumers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Digimarc Engage** unlocks an interactive communications channel connecting brands and consumers. Our
technology activates products and media through on-package QR codes, enabling consumers to scan for more information. Combined with cloud-based rules, brands can deliver contextually relevant content based on
time, location, and more.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Digimarc Recycle** increases the recyclability of products and packaging through unique digital watermarks.
Our technology activates products and packaging with unique digital watermarks to improve accuracy and performance in recycling facilities. In addition, consumer engagement capabilities deliver a direct digital communications channel with consumers,
and a cloud-based record of recycling information provides new insights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Digimarc Retail Experience** helps brands meet the evolving needs of retail partners and consumers. Our
technology leverages covert digital watermarks to provide an easier, frictionless shopping experience. In addition, consumer engagement capabilities deliver a direct digital communication channel with consumers.

Digimarc has maintained a relationship with a consortium of central banks for over 24 years, providing trusted technology to help deter digital counterfeiting of currency. The relationship was the first commercially successful large-scale use of our technologies and protects billions of banknotes in circulation globally.

Digimarc Corporation was incorporated in Delaware in 2008 and became an Oregon corporation in 2010. Our principal offices are located at 8500 SW Creekside Place, Beaverton, Oregon 97008; our telephone number is (503) 469-4800. Our website address is www.digimarc.com. Information on our website or available by hyperlink from our website does not constitute part of this prospectus.

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##### [**Table of Contents**](#toc)
**RISK FACTORS** 

An investment in our securities involves a high degree of risk. The prospectus supplement applicable to each offering of our securities may contain a discussion of additional risks applicable to the offering. Prior to making a decision about investing in our securities, you should carefully consider the specific factors discussed under the heading "Risk Factors" in the applicable prospectus supplement, together with all of the other information contained or incorporated by reference in the prospectus supplement or appearing or incorporated by reference in this prospectus. You should also consider the risks, uncertainties and assumptions discussed under Part I, Item 1A, "Risk Factors," in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, as updated by our quarterly report on Form 10-Q for the quarter ended March 31, 2023, which are incorporated herein by reference, and may be amended, supplemented or superseded from time to time by other reports we file with the SEC in the future and any prospectus supplement related to a particular offering. The risks and uncertainties we have described are not the only ones we face. Additional risks and uncertainties not presently known to us or that we currently deem immaterial may also affect our operations.

**FORWARD-LOOKING STATEMENTS** 

This prospectus and documents incorporated herein by reference include "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933 (the "Securities Act"). Words such as "may," "plan," "should," "could," "expect," "anticipate," "intend," "believe," "project," "forecast," "estimate," "continue," variations of such terms or similar expressions are intended to identify such forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, or other statements made by us, are made based on our expectations and beliefs concerning future events affecting us, and are subject to uncertainties and factors (including those specified below) that are difficult to predict and, in many instances, are beyond our control. As a result, our actual results could differ materially from those expressed in or implied by any forward-looking statements, and investors are cautioned not to place undue reliance on these statements. Forward-looking statements include, but are not limited to, statements relating to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our expectations regarding the acquisition of EVRYTHNG and its impact on our business, including our expectations
regarding no additional shares being issued in connection with the acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the concentration of most of our revenue among few customers and the trends and sources of future revenue;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• anticipated successful advocacy of our technology by our partners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our belief regarding the global deployment of our products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our beliefs regarding potential outcomes of participating in the HolyGrail 2.0 initiative and the utility of our
products in the recycling industry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ESG projects and ESG Impact Report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our future level of investment in our business, including investment in research, development and engineering of
products and technology, development of our intellectual property, sales growth initiatives and development of new market opportunities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• anticipated expenses, costs, margins, provision for income taxes and investment activities in the foreseeable
future;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our assumptions and expectations related to stock awards;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our belief that we have one of the world's most extensive patent portfolios in digital watermarking and
related fields;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• anticipated effect of our adoption of accounting pronouncements;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our beliefs regarding our critical accounting policies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our expectations regarding the impact of accounting pronouncements issued but not yet adopted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• anticipated revenue to be generated from current contracts, renewals, and as a result of new programs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our estimates, judgments and assumptions related to impairment testing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• variability of contracted arrangements in response to changes in circumstances underlying the original
contractual arrangements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• business opportunities that could require that we seek additional financing and our ability to do so;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the size and growth of our markets and our assumptions and beliefs related to those markets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the existence of international growth opportunities and our future investment in such opportunities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our expected short-term and long-term liquidity positions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our capital expenditure and working capital requirements and our ability to fund our capital expenditure and
working capital needs through cash flow from operations or financing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our expectations regarding our ability to meet future financial obligations as they become due within the coming
fiscal year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the effect of computerized trading on our stock price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• capital market conditions, our expectations regarding credit risk exposure, interest rate volatility and other
limitations on the availability of capital, which could have an impact on our cost of capital and our ability to access the capital markets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our use of cash, cash equivalents and marketable securities in upcoming quarters and the possibility that our
deposits of cash and cash equivalents with major banks and financial institutions may exceed insured limits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the strength of our competitive position and our ability to innovate and enhance our competitive differentiation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our beliefs related to our existing facilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• protection, development and monetization of our intellectual property portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our beliefs related to our relationship with our employees and the effect of increasing diversity within our
workforce;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our beliefs regarding cybersecurity incidents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our beliefs related to certain provisions in our bylaws and articles of incorporation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our beliefs related to legal proceedings and claims arising in the ordinary course of business.

We believe that the risk factors specified above and the risk factors identified in Part I, Item 1A of our 2022 Annual Report, as updated by our quarterly report on Form 10-Q for the quarter ended March 31, 2023, could affect our future performance and the liquidity and value of our securities and cause our actual results to differ materially from those expressed or implied by forward-looking statements made by us or on our behalf. Investors should understand that it is not possible to predict or identify all risk factors and that there may be other factors that may cause our actual results to differ materially from the forward-looking statements. All forward-looking statements made by us or by persons acting on our behalf apply only as of the date of this prospectus. We do not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of the filing of this prospectus.

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**USE OF PROCEEDS** 

Unless otherwise set forth in a prospectus supplement, we intend to use the net proceeds of any offering of securities for working capital and other general corporate purposes, which may include the financing of capital expenditures, future acquisitions or share repurchases. We will have significant discretion in the use of any net proceeds. The net proceeds may be invested temporarily in interest-bearing accounts and short-term interest-bearing securities until they are used for their stated purpose. We may provide additional information on the use of the net proceeds from the sale of the offered securities in an applicable prospectus supplement relating to the offered securities.

**DILUTION** 

If required, we will set forth in a prospectus supplement the following information regarding any material dilution of the equity interests of investors purchasing securities in an offering under this prospectus:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the net tangible book value per share of our equity securities before and after the offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the amount of the increase in such net tangible book value per share attributable to the cash payments made by
investors in the offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the amount of the immediate dilution from the public offering price which will be absorbed by such investors.

**DESCRIPTION OF CAPITAL STOCK** 

The following description of our capital stock is a summary and is qualified in its entirety by the provisions of our articles of incorporation, bylaws and applicable law. Copies of our articles of incorporation and bylaws have been filed as exhibits to the registration statement of which this prospectus forms a part. See " [Where You Can Find More Information](#toc326733_13)."

Our authorized capital stock consists of 50,000,000 shares of common stock, $0.001 par value per share; 10,000 shares of Series A Redeemable Nonvoting Preferred Stock, par value $0.001 per share ("Series A Preferred Stock"); 500,000 shares of Series R Participating Cumulative Preferred Stock, par value $0.001 per share ("Series R Preferred Stock"); and 1,990,000 shares of undesignated preferred stock, par value $0.001 per share.

**Common Stock** 

As of May 31, 2023, there were 20,325,681 shares of our common stock outstanding. Shares of our common stock are currently registered pursuant to Section 12 of the Securities Exchange Act of 1934 (the "Exchange Act"), and are listed on the Nasdaq Global Market under the symbol "DMRC."

Holders of our common stock are entitled to one vote for each share held of record on all matters submitted to a vote of our shareholders, including the election of directors. Subject to preferences that may be granted to any then outstanding preferred stock, holders of common stock are entitled to receive ratably those dividends as may be declared by our board of directors out of funds legally available for such purpose, as well as any distributions to our shareholders. In the event of our liquidation, dissolution or winding up, holders of common stock are entitled to share ratably in all of our assets remaining after payment of liabilities and the liquidation preference of any then outstanding preferred stock. Holders of common stock have no preemptive or other subscription or conversion rights. There are no redemption or sinking fund provisions applicable to the common stock. All outstanding shares of common stock are fully paid and non-assessable.

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**Preferred Stock** 

As of May 31, 2023, there were 10,000 shares of our Series A Preferred Stock issued and outstanding, and no shares of our Series B Convertible Preferred Stock, par value $0.001 per share ("Series B Preferred Stock") or Series R Preferred Stock issued or outstanding. There are currently no shares of preferred stock designated as Series B Preferred Stock. Our board of directors is authorized, without further action by our shareholders, to designate and issue up to an additional 1,990,000 shares of our preferred stock in one or more series. Our board of directors may determine the designation, relative rights, preferences and limitations of the shares of each series of preferred stock, among other features, and may modify the rights of the holders of our Series A Preferred Stock. The rights of the holders of our Series B Preferred Stock may only be modified by the affirmative vote of the holders of a majority of the outstanding shares of that series, and the rights of holders of our Series R Preferred Stock may only be modified by the affirmative vote of the holders of two-thirds of the outstanding shares of that series, voting as a separate class. Our Series B Preferred Stock ranks senior to our Common Stock, Series A Preferred Stock and Series R Preferred Stock with respect to dividends and distributions on liquidation, winding-up and dissolution.

*Dividend Rights* 

Holders of shares of our Series A Preferred Stock are not entitled to the payment of a dividend. As previously designated, holders of our Series B Preferred Stock are entitled to dividends on an amount equal to $1,000 per share, plus all accumulated dividends (the "Liquidation Preference") at the rate of 7.5% per annum, payable in cash or, at the option of the Company, accumulated and added to the Liquidation Preference. As previously designated, holders of our Series B Preferred Stock are also entitled to participate in dividends declared or paid on our Common Stock and in offers to repurchase or exchange the Common Stock, in each case, on an as-converted to Common Stock basis. Holders of our Series R Preferred Stock are entitled to the payment of a dividend when, as, and if declared by our board of directors on a quarterly basis or whenever our board of directors otherwise declares a dividend or distribution on our common stock (unless the dividend or distribution is solely in shares of our common stock) in an amount equal to the greater of (a) $0.001 and (b) 100 times the amount of cash dividends then to be paid on each share of common stock (which is subject to adjustment under a formula set forth in our articles of incorporation).

*Redemption* 

We may redeem shares of our Series A Preferred Stock by paying holders of shares of our Series A Preferred Stock an amount equal to $5.00 per share. We may not redeem shares of our Series B Preferred stock, as previously designated, except for certain circumstances related to a change of control of the Company, in which case we are required to redeem all of our then-outstanding shares of Series B Preferred Stock for cash consideration equal to the greater of (i) the Liquidation Preference, plus accrued and unpaid dividends and (ii) the amount that such Holder would have been entitled to receive at such time if the Series B Preferred Stock were converted into Common Stock immediately prior to such change of control. We may not redeem shares of our Series R Preferred Stock, but we are permitted to acquire shares of our Series R Preferred Stock in the open market or by offer to any holder of shares of Series R Preferred Stock. Moreover, if any dividends or distributions payable on our Series R Preferred Stock are in arrears, we may not redeem, purchase or acquire for consideration (a) shares of our capital stock ranking junior to our Series R Preferred Stock, or (b) shares of our Series R Preferred Stock (or shares of a class ranking on a parity with our Series R Preferred Stock), unless we acquire the shares by a public offer to purchase the shares of Series R Preferred Stock and shares on parity with these shares.

*Voting Rights* 

Holders of our Series A Preferred Stock do not have voting rights. As previously designated, holders of our Series B Preferred Stock vote together with holders of our Common Stock on an as-converted basis, applying a voting conversion price of $17.01 (subject to customary anti-dilution adjustments in the event of any stock split,

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stock dividend or distribution, or stock combination). Holders of our Series R Preferred Stock vote together with holders of our common stock and are entitled to a number of votes per share that is equal to 100 times the maximum number of votes to which any holder of shares of our common stock is entitled.

*Liquidation Rights* 

If we undergo a voluntary or involuntary liquidation, dissolution, distribution of assets or other winding up, holders of our Series A Preferred Stock will be entitled to payment of an amount equal to $5.00 per share of Series A Preferred Stock, subject to the rights of holders of series of stock ranking senior to the Series A Preferred Stock. Under the same circumstances, holders of our Series B Preferred Stock, as previously designated, will be entitled to receive an amount per share equal to the greater of (i) the Liquidation Preference, plus accrued and unpaid dividends and (ii) the amount that the holders of Series B Preferred Stock would have been entitled to receive at such time if the Series B Preferred Stock were converted into Common Stock. Under the same circumstances, holders of our Series R Preferred Stock are entitled to payment of an amount equal to the greater of (a) $0.001 per share and (b) the amount of any accrued but unpaid dividends and distributions plus the amount equal to 100 times the aggregate amount per share to be distributed to holders of our common stock. The rights of holders of our Series R Preferred Stock to receive this payment rank junior to the rights of holders of other shares of our preferred stock.

**Oregon Control Share Act and Oregon Business Combination Act** 

We are subject to provisions of Oregon law that may restrict the ability of our significant shareholders to exercise voting rights. The Oregon Control Share Act generally applies to a person who acquires voting stock of an Oregon corporation in a transaction that results in that person holding more than one-fifth, one-third or one-half of the total voting power of the voting shares of the corporation. If such a transaction occurs, the person cannot vote the shares acquired in the acquisition unless voting rights are restored to those shares by a vote of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the holders of a majority of the outstanding voting shares of each voting group entitled to vote; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the holders of a majority of the outstanding voting shares, excluding the acquired shares and shares held by the
corporation's officers and inside directors.

The restricted shareholder may, but is not required to, submit to the corporation a statement setting forth information about itself and its plans with respect to the corporation. The statement may request that the corporation call a special meeting of shareholders to determine whether voting rights will be granted to the shares acquired. If a special meeting of shareholders is not requested, the issue of voting rights of the acquired shares will be considered at the next annual or special meeting of shareholders that is held more than 60 days after the date the shares are acquired.

We are also subject to provisions of Oregon law that govern business combinations between corporations and interested shareholders (the "Oregon Business Combination Act"). The Oregon Business Combination Act generally prohibits a corporation from entering into a business combination transaction with a person, or an affiliate of that person, for a period of three years following the date the person acquires 15% or more of the outstanding voting stock of the corporation. For the purposes of this law, the prohibition generally applies to the following business combination transactions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a merger or plan of share exchange,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any sale, lease, exchange, mortgage, pledge, transfer or other disposition of 10% or more of the aggregate market
value of all of the assets of the corporation or the aggregate market value of all the outstanding stock of the corporation, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• transactions that result in the issuance or transfer of capital stock of the corporation to the 15% shareholder.

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However, the general prohibition does not apply if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the 15% shareholder, as a result of the transaction in which the person became a 15% shareholder, owns at least
85% of the voting stock of the corporation outstanding at the time the transaction commenced (excluding shares owned by directors who are also officers, and certain employee benefit plans),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the board of directors approves either (i) the business combination or (ii) the transaction that
resulted in the person becoming an interested shareholder before the transaction by which the shareholder acquires 15% or more of the corporation's outstanding voting stock occurs, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the board of directors and the holders of at least 66 2/3% of the outstanding voting stock of the corporation,
excluding shares owned by the 15% shareholder, approve the transaction at an annual or special meeting on or after the date the shareholder acquires 15% or more of the corporation's voting stock.

**DESCRIPTION OF WARRANTS** 

We may issue warrants for the purchase of debt securities, preferred stock, or common stock. Each series of warrants will be issued under a separate warrant agreement to be entered into between us and a bank or trust company, as warrant agent. The warrant agent will act solely as our agent in connection with the warrants and will not assume any obligation or relationship of agency or trust for or with any registered holders of warrants or beneficial owners of warrants.

We will distribute a prospectus supplement with regard to each issue of warrants. Each prospectus supplement will describe:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in the case of warrants to purchase debt securities, the designation, aggregate principal amount, currencies,
denominations and terms of the series of debt securities purchasable upon exercise of the warrants and the price at which you may purchase the debt securities upon exercise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in the case of warrants to purchase preferred stock, the designation, number of shares, stated value and terms,
such as liquidation, dividend, conversion and voting rights, of the series of preferred stock purchasable upon exercise of the warrants and the price at which you may purchase that number of shares of preferred stock of the series upon exercise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in the case of warrants to purchase common stock, the number of shares of common stock purchasable upon the
exercise of the warrants and the price at which you may purchase that number of shares of common stock upon exercise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the period during which you may exercise the warrants;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any provision adjusting the securities that may be purchased on exercise of the warrants, and the exercise price
of the warrants, to prevent dilution or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the amount of warrants or rights outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the place or places where warrants can be presented for exercise or for registration of transfer or exchange; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any other material terms of the warrants.

Warrants for the purchase of preferred stock and common stock will be offered and exercisable for U.S. dollars only. Warrants will be issued in registered form only. The exercise price for warrants will be subject to adjustment as described in the applicable prospectus supplement.

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Prior to the exercise of any warrants to purchase debt securities, preferred stock or common stock, holders of the warrants will not have any of the rights of holders of the debt securities, preferred stock or common stock purchasable upon exercise, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in the case of warrants for the purchase of debt securities, the right to receive payments of principal of, any
premium or interest on the debt securities purchasable upon exercise or to enforce covenants in the applicable indenture; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in the case of warrants for the purchase of preferred stock or common stock, the right to vote or to receive any
payments of dividends or preferences on the preferred stock or common stock purchasable upon exercise.

**DESCRIPTION OF DEBT SECURITIES** 

As used in this prospectus, debt securities means the debentures, notes, bonds and other evidences of indebtedness that we may issue from time to time. The debt securities will either be senior debt securities or subordinated debt securities. We may also issue convertible debt securities. Senior debt securities will be issued under a "Senior Indenture" and subordinated debt securities will be issued under a "Subordinated Indenture," each entered into between us and a trustee to be named in the Indenture. This prospectus sometimes refers to the Senior Indenture and the Subordinated Indenture collectively as the "Indentures."

The Indentures or forms of Indentures will be filed as exhibits to the registration statement of which this prospectus is a part. The statements and descriptions in this prospectus or in any prospectus supplement regarding provisions of the Indentures and debt securities are summaries thereof, do not purport to be complete and are subject to, and are qualified in their entirety by reference to, all of the provisions of the Indentures (and any amendments or supplements we may enter into from time to time that are permitted under each Indenture) and the debt securities, including the definitions in the applicable Indenture of various terms.

Unless otherwise specified in a prospectus supplement, the debt securities will be direct unsecured obligations of Digimarc. The senior debt securities will rank equally with any of our other unsecured senior and unsubordinated debt. The subordinated debt securities will be subordinate and junior in right of payment to any senior indebtedness.

The Indentures do not limit the aggregate principal amount of debt securities that we may issue and provide that we may issue debt securities from time to time in one or more series, in each case with the same or various maturities, at par or at a discount. Unless indicated in a prospectus supplement, we may issue additional debt securities of a particular series without the consent of the holders of the debt securities of the series outstanding at the time of the issuance. Any of the additional debt securities, together with all other outstanding debt securities of that series, will constitute a single series of debt securities under the applicable Indenture and will be equal in ranking.

The senior indebtedness issued pursuant to the Senior Indenture will effectively be subordinate to any of our secured indebtedness. In the event of a bankruptcy or other liquidation event involving a distribution of assets to satisfy our outstanding indebtedness, or an event of default under a loan agreement relating to secured indebtedness, the holders of our secured indebtedness would be entitled to receive payment of principal and interest prior to payments on the senior indebtedness issued under the Senior Indenture.

Additionally, the senior indebtedness issued pursuant to the Senior Indenture will effectively be subordinate to any indebtedness of any subsidiaries. In the event of a bankruptcy, receivership, state-ordered rehabilitation, liquidation or similar event involving a subsidiary, the assets of that subsidiary would be used to satisfy claims of creditors of the subsidiary rather than our creditors. As a result of the application of the subsidiary's assets to satisfy claims of creditors, the value of the stock of the subsidiary would be diminished and perhaps rendered

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worthless. Any diminution in the value of the shares of any subsidiaries would adversely affect our financial condition and possibly impair our ability to meet our obligations on the debt securities. In addition, any liquidation of the assets of any subsidiaries to satisfy claims of the subsidiary's creditors might make it impossible for the subsidiary to pay dividends to us. This inability to pay dividends would further impair our ability to satisfy our obligations under the debt securities.

**Prospectus Supplement** 

Each prospectus supplement will describe the terms relating to the specific series of debt securities being offered. These terms will include some or all of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the title of the series of the offered debt securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the price or prices at which the offered debt securities will be issued;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any limit on the aggregate principal amount of the offered debt securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the date or dates on which the principal of the offered debt securities will be payable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the rate or rates (which may be fixed or variable) per year at which the offered debt securities will bear
interest, if any, or the method of determining the rate or rates and the date or dates from which interest, if any, will accrue;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• if the amount of principal, premium or interest with respect to the offered debt securities of the series may be
determined with reference to an index or pursuant to a formula, the manner in which these amounts will be determined;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the date or dates on which interest, if any, on the offered debt securities will be payable and the regular
record dates for the payment thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the place or places, if any, in addition to or instead of the corporate trust office of the trustee, where the
principal, premium and interest with respect to the offered debt securities will be payable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the period or periods, if any, within which, the price or prices of which, and the terms and conditions upon
which the offered debt securities may be redeemed, in whole or in part, pursuant to optional redemption provisions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the terms on which we would be required to redeem or purchase the offered debt securities pursuant to any sinking
fund or similar provision, and the period or periods within which, the price or prices at which and the terms and conditions on which the offered debt securities will be so redeemed and purchased in whole or in part;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the denominations in which the offered debt securities will be issued;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the form of the offered debt securities and whether the offered debt securities are to be issued in whole or in
part in the form of one or more global securities and, if so, the identity of the depositary for the global security or securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the portion of the principal amount of the offered debt securities that is payable on the declaration of
acceleration of the maturity, if other than their principal amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• if other than U.S. dollars, the currency or currencies in which the offered debt securities will be denominated
and payable, and the holders' rights, if any, to elect payment in a foreign currency or a foreign currency unit other than that in which the offered debt securities are otherwise payable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• whether the offered debt securities will be issued with guarantees and, if so, the terms of any guarantee of the
payment of principal and interest with respect to the offered debt securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the general type of event that constitutes a default and any addition to, or modification or deletion of, any
event of default or any covenant specified in the indenture;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• whether the offered debt securities will be convertible or exchangeable into other securities, and if so, the
terms and conditions upon which the offered debt securities will be convertible or exchangeable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• whether the offered debt securities will be senior or subordinated debt securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any trustees, authenticating or paying agents, transfer agents or registrars or other agents with respect to the
offered debt securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any other specific terms of the offered debt securities.

Unless otherwise specified in the applicable prospectus supplement, the debt securities will not be listed on any securities exchange and will be issued in fully-registered form without coupons.

Holders of the debt securities may present their securities for exchange and may present registered debt securities for transfer in the manner described in the applicable prospectus supplement. Except as limited by the applicable Indenture, we will provide these services without charge, other than any tax or other governmental charge payable in connection with the exchange or transfer.

Debt securities may bear interest at a fixed rate or a variable rate as specified in the prospectus supplement. In addition, if specified in the prospectus supplement, we may sell debt securities bearing no interest or interest at a rate that at the time of issuance is below the prevailing market rate, or at a discount below their stated principal amount. We will describe in the applicable prospectus supplement any special federal income tax considerations applicable to these discounted debt securities.

We may issue debt securities with the principal amount payable on any principal payment date, or the amount of interest payable on any interest payment date, to be determined by referring to one or more currency exchange rates, commodity prices, equity indices or other factors. Holders of these debt securities may receive a principal amount on any principal payment date, or interest payments on any interest payment date, that are greater or less than the amount of principal or interest otherwise payable on those dates, depending upon the value on those dates of applicable currency, commodity, equity index or other factors. The applicable prospectus supplement will contain information as to how we will determine the amount of principal or interest payable on any date, as well as the currencies, commodities, equity indices or other factors to which the amount payable on that date relates and various additional tax considerations.

**PLAN OF DISTRIBUTION** 

We may distribute the securities from time to time in one or more transactions at a fixed price or prices, which may be changed, or at prices determined as the prospectus supplement specifies. We may sell securities to one or more underwriters for public offering and sale by them or may sell securities to investors directly or through agents. We will name any underwriter or agent involved in the offer and sale of securities in the prospectus supplement.

Underwriters may offer and sell the securities at a fixed price or prices, which may be changed. Underwriters may also offer and sell securities at market prices, at prices related to market prices or at negotiated prices. We also may authorize underwriters acting as our agents to offer and sell the securities upon the terms and conditions set forth in any prospectus supplement. In connection with the sale of securities, we may be deemed to have paid compensation to the underwriters in the form of underwriting discounts or commissions. Underwriters may also receive commissions from purchasers of securities for whom they may act as agent.

Underwriters may sell securities to or through dealers, and such dealers may receive compensation in the form of discounts, concessions or commissions from the underwriters and/or commissions (which may be changed from time to time) from the purchasers for whom they may act as agent.

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The accompanying prospectus supplement will set forth the terms of the offering and the method of distribution and will identify any firms acting as underwriters, dealers or agents in connection with the offering, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the name or names of any underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the purchase price of the securities and the proceeds to us from the sale;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any underwriting discounts and other items constituting underwriter compensation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any public offering price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any discounts or concessions allowed or reallowed or paid to dealers; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any securities exchange on which the securities offered in the prospectus supplement may be listed.

Under the Securities Act, underwriters, dealers and agents participating in the distribution of the securities may be deemed to be underwriters, and any discounts and commissions they receive and any profit they realize on resale of the securities may be deemed to be underwriting discounts and commissions. We may enter into agreements with underwriters, dealers and agents providing them indemnification against and contribution toward specified civil liabilities, including liabilities under the Securities Act, and reimbursement for various expenses.

We will indicate the extent to which we anticipate that a secondary market for the securities will be available in the prospectus supplement. Our common stock is listed on the Nasdaq Global Market. Except as indicated in the applicable prospectus supplement, securities other than common stock are not expected to be listed on any securities exchange.

This prospectus may be amended or supplemented from time to time, if required, to describe a specific plan of distribution.

**LEGAL MATTERS** 

Unless otherwise indicated in the applicable prospectus supplement, the validity of the issuance of the securities offered hereby will be passed upon for us by Perkins Coie LLP, Portland, Oregon. Any underwriters will be represented by their own legal counsel, which will be named in the applicable prospectus supplement.

**EXPERTS** 

The consolidated financial statements of Digimarc Corporation as of December 31, 2022 and 2021, and for each of the years in the two-year period ended December 31, 2022, have been incorporated by reference herein in reliance upon the report of KPMG LLP, independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing.

**WHERE YOU CAN FIND MORE INFORMATION** 

We have filed with the SEC a registration statement to register the securities offered by this prospectus under the Securities Act. This prospectus is part of that registration statement, but omits some information contained in the registration statement, as permitted by SEC rules. For further information with respect to Digimarc and this offering, reference is made to the registration statement and the exhibits and any schedules filed with the registration statement. Statements contained in this prospectus as to the contents of any document referred to are not necessarily complete and in each instance, if the document is filed as an exhibit, reference is made to the copy of the document filed as an exhibit to the registration statement, each statement being qualified in all

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respects by that reference. You may obtain copies of the registration statement, including exhibits, as noted in the paragraph below or by writing or telephoning us at:

Digimarc Corporation

8500 SW Creekside Place

Beaverton, Oregon 97008

(503) 469-4800

We file annual, quarterly and other reports, proxy statements and other information with the SEC. The SEC maintains an internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC, including us. The address of that site is *http://www.sec.gov*. Our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, including any amendments to those reports, and other information that we file with or furnish to the SEC pursuant to Section 13(a) or 15(d) of the Exchange Act may also be accessed free of charge by linking directly from the "Investors" page of our website at *www.digimarc.com/investors*. These filings will be available as soon as reasonably practicable after we electronically file this material with, or furnish it to, the SEC. Information contained on our website is not part of this prospectus.

**INCORPORATION OF CERTAIN INFORMATION BY REFERENCE** 

We incorporate information into this prospectus by reference, which means that we disclose important information to you by referring you to another document filed separately with the SEC. The information incorporated by reference is deemed to be part of this prospectus, except for any such information superseded by information contained in later-filed documents or directly in this prospectus. This prospectus incorporates by reference the documents set forth below that we have previously filed with the SEC (excluding those portions of any Form 8-K that are not deemed "filed" pursuant to the General Instructions of Form 8-K). These documents contain important information about us and our financial condition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Annual Report on [Form 10-K](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001438231/000143774923005216/dmrc20221231_10k.htm) for the year ended December 31, 2022, filed with the SEC on March 2, 2023;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Quarterly Report on [Form 10-Q](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001438231/000143774923013925/dmrc20230331_10q.htm) for the fiscal quarter ended March 31, 2023, filed with the SEC on May 11, 2023;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Current Reports on Form 8-K filed with the SEC on [February 16, 2023](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001438231/000119312523041167/d435982d8k.htm) , [March 17, 2023](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1438231/000119312523073122/d439959d8k.htm) , [May 12, 2023](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1438231/000143774923014223/dmrc20230502_8k.htm) , [May 24, 2023](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1438231/000143774923015726/dmrc20230522_8ka.htm) , and [June 6, 2023](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1438231/000119312523161243/d516354d8k.htm) ;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The portions of our [Definitive Proxy Statement on Schedule 14A](http://www.sec.gov/Archives/edgar/data/1438231/000143774923008239/dmrc20230321_def14a.htm) , filed on March 28, 2023, that are deemed "filed" with the SEC under the Exchange Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Registration Statement on [Form 8-A](http://www.sec.gov/Archives/edgar/data/1438231/000110465908064430/a08-26252_18a12b.htm) filed with the SEC on October 16, 2008; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The description of our capital stock contained in our Registration Statement on [Form 10](http://www.sec.gov/Archives/edgar/data/1438231/000104746908007643/a2186538z10-12b.htm) filed with the SEC on June 23, 2008, and [Amendment No. 1](http://www.sec.gov/Archives/edgar/data/1438231/000104746908008301/a2186908z10-12ba.htm) thereto, filed with the SEC on July 
22, 2008; [Amendment No. 2](http://www.sec.gov/Archives/edgar/data/1438231/000104746908009252/a2186908z10-12ba.htm) thereto, filed with the SEC on August 
13, 2008; [Amendment No. 3](http://www.sec.gov/Archives/edgar/data/1438231/000104746908009940/a2186908z10-12ba.htm) thereto, filed with the SEC on September 
9, 2008; [Amendment No. 4](http://www.sec.gov/Archives/edgar/data/1438231/000104746908010564/a2186908z10-12ba.htm) thereto, filed with the SEC on October 
2, 2008; [Amendment No. 5](http://www.sec.gov/Archives/edgar/data/1438231/000104746908010750/a2186908z10-12ba.htm) thereto, filed with the SEC on October 
7, 2008; and [Amendment No. 6](http://www.sec.gov/Archives/edgar/data/1438231/000104746908010841/a2186908z10-12ba.htm) thereto, filed with the SEC on October 14, 2008.

All reports and other documents we subsequently file pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act prior to the termination of this offering, including all the documents we may file with the SEC after the date of the initial registration statement and prior to the effectiveness of the registration statement, but excluding any information furnished to, rather than filed with, the SEC, will also be incorporated by reference into this prospectus and deemed to be part of this prospectus from the date of the filing of the reports and documents.

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## DIGIMARC CORPORATION
![LOGO](g326733g01c01.jpg)

**Common Stock** 

**Having an Aggregate Offering Price of Up to** 

**$17,500,000** 

**PROSPECTUS SUPPLEMENT** 

**Needham & Company** 

**June 8, 2026**