8-K

UNITED STATES

 SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported):  September 24, 2020

INTERDIGITAL, INC.

(Exact name of Registrant as Specified in Charter)

Pennsylvania	1-33579	82-4936666
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

200 Bellevue Parkway, Suite 300

Wilmington, DE 19809-3727

(Address of principal executive offices, Zip code)

302-281-3600

Registrant's telephone number, including area code

Not Applicable

Former Name or Former Address, if Changed Since Last Report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	IDCC	NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01. Regulation FD Disclosure.

Furnished as Exhibit 99.1 hereto and incorporated into this Item 7.01 by reference is the investor presentation that InterDigital, Inc. (the “Company”) has prepared for use at the Sidoti Virtual Investor Conference on September 24, 2020.

The information in this report, including Exhibit 99.1, is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act. The Company undertakes no duty or obligation to publicly update or revise the information contained in this report.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

99.1	InterDigital, Inc. Investor Presentation.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	INTERDIGITAL, INC.
	By:  /s/ Richard L. Gulino
	Richard L. Gulino
	Chief Legal Officer, General
	Counsel and Corporate Secretary
Date: September 24, 2020

EX-99.1

Exhibit 99.1

   © 2020 InterDigital, Inc. All Rights Reserved.  InterDigital Q3 2020 Investor Presentation 

 This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding InterDigital, Inc.’s current beliefs, plans and expectations, as to: (i) future results, projections and trends; (ii) our strategy and business plan; (iii) our future revenues and expenses, including our expectations with respect to full year 2020 revenues; (iv) future recurring revenue levels and the timelines for achieving such levels; (v) investments; (vi) partnerships, commercial initiatives and other potential business and revenue opportunities, including through new markets; (vii) technology development timelines; (viii) future global mobile, video, IoT and consumer electronics device shipments and market opportunities; and (ix) our plans to expand our footprint and engagement strategy. Such statements are subject to the safe harbor created by those sections.Words such as “anticipate,” “believe,” “estimate,” “expect,” “project,” “intend,” “plan,” “forecast,” “will,” variations of any such words or similar expressions, and graphical timelines representing future estimates or events are intended to identify such forward-looking statements. Forward-looking statements are subject to risks and uncertainties. Actual outcomes could differ materially from those expressed in or anticipated by such forward-looking statements due to a variety of factors, including, without limitation: (i) the market relevance of our technologies; (ii) changes in the needs, availability, pricing and features of competitive technologies as well as those of strategic partners or consumers; (iii) unanticipated technical or resource difficulties or delays related to further development of our technologies; (iv) the entry into additional patent license, patent sales or technology solutions agreements; (v) our ability to successfully identify and launch new commercial businesses; (vi) our ability to successfully identify and expand into new markets; (vii) our ability to enter into partnerships, strategic relationships or complementary investment opportunities on acceptable terms; (viii) the accuracy of market sales projections of our licensees, changes in our estimates of 2020 sales by our per-unit licensees, delays in payments from our licensees and related matters, in each case, including as a result of the COVID-19 pandemic; (ix) the resolution of current legal proceedings, including any awards or judgments relating to such proceedings, additional legal proceedings, changes in the schedules or costs associated with legal proceedings or adverse rulings in such legal proceedings; (x) unanticipated costs or expenses; (xi) changes in our strategy going forward; and (xii) changes or inaccuracies in our market projections or technology development timelines, as well as other risks and uncertainties, including those detailed in our Annual Report on Form 10-K for the year ended December 31, 2019, and from time to time in our other Securities and Exchange Commission filings. We undertake no duty to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law, regulation or other competent legal authority.  Forward-Looking Statements  © 2020 InterDigital, Inc. All Rights Reserved.  2 

 © 2020 InterDigital, Inc. All Rights Reserved.  Why InterDigital, More than Ever  3  One of the Largest Pure Research, Innovation and Licensing Companies in the World    Our Strength: Over four decades of pioneeringwireless and visual technologies innovationOur Business Model: Bring core technology to the market though substantial technical contributions to the global standardsThe Result: Licensing access to billions of consumer electronics products, including mobile phones, TVs, set top boxes, and laptops Our Competitive Edge. One of the largest patent portfolios in the world related to wireless and video technologies 

 © 2020 InterDigital, Inc. All Rights Reserved.  Unquestioned Research Leadership in Wireless and Visual Technologies   4  Contributing Technology Worldwideon Two Major Fronts      ~5,000  contributions to 3GPP & IETF in past 20 years    >100 leadership roles in standards, external boards and invited speaking opportunities in 2019 alone  20%+ of revenue invested in R&D since 2000  ~290 engineers, approx. 90% with advanced degrees, including 107 PhDs  >100/yr  contributions to video standards bodies  25+ years of experience in video compression solutions    >50/yr journal and conference papers published   

 © 2020 InterDigital, Inc. All Rights Reserved.  In Our Labs Today  5  \  A world-class R&D lab that drives InterDigital’s technology development and is a respected participant in international standards & industry activities  5G & 6G Cellular StandardsMobile Edge ComputingSpectrum Sharing & Unlicensed SpectrumAdvanced Video Standards & PlatformsImmersive and Volumetric VideoArtificial Intelligence / Machine LearningIoT Standards & PlatformsIntelligent & Autonomous VehiclesDrones / UAVs / Robotics  VideoTechnology  IoT 

 © 2020 InterDigital, Inc. All Rights Reserved.  6  Standards – the Path to Horizontal Influence  Product innovation improves the selected devices; standards innovation improves all devices in a market    We make our “sale” to engineers and research peers, not to companies  Your success is a factor of the quality of your research, not the scale or commercial clout of your company  Standards reward long term commitment: understanding the evolution of technologies is central to improving on them 

   10%   InterDigital’s share of likely 3G SEPs averages close to 10%,   and our 3G SEP portfolio was ranked as either the second or third strongest among all industry participants.      © 2020 InterDigital, Inc. All Rights Reserved.  An Evolving Portfolio for an Evolving Industry  7  7% –10%  InterDigital’s share of likely 4G SEPs ranges from 7% – 10%,   and averages more than 8% across these studies,  with InterDigital’s LTE portfolio ranked between the third and fifth strongest in the industry.  10%   InterDigital’s share of likely 3G SEPs averages close to 10%,   and our 3G SEP portfolio was ranked as either the second or third strongest among all industry participants.  7% –10%  10%         7% –10%  InterDigital’s share of likely 4G SEPs ranges from 7% – 10%,   and averages more than 8% across these studies,  with InterDigital’s LTE portfolio ranked between the third and fifth strongest in the industry.  3G and 4G data reflects studies by third-party analysts InterDigital is aware of since 2012 that have evaluated the share of patents and applications that are likely essential to those standards. InterDigital did not fund any of these studies. InterDigital does not endorse any particular study or the methodology used by any of these studies, nor does InterDigital endorse a patent counting approach to determining the value of its portfolio and does not subscribe to the idea that all SEPs have an equal value.            Primarily cellular portfolios, reflecting value in connectivity  Wi-Fi and HEVC join 5G, for new value drivers  6%   of all patents and applications disclosed to ETSI and categorized as 5G, with multiple releases to go  ~2,000HEVC video compression patents and applications  ~1,300Wi-Fi (802.11) patents and applications  8%   +  + 

 © 2020 InterDigital, Inc. All Rights Reserved.  8  5G: The Power of Continuity  The 5G standard comprises a mix of new 5G-specific technologies and 3G/4G technologies that remain necessary for 5G operationOnly 2 releases of the 5G standard have been finalized – we expect as many as 7 moreAs a key contributor to 3G and 4G, InterDigital began the march to 5G with a solid platform  * InterDigital expresses no views on the accuracy or completeness of the data in the ETSI Special Report and notes that the data may include patents and applications that have been abandoned or have expired.  According to the August 2020 ETSI Special Report, InterDigital’s ETSI-disclosed patents and applications accounted for ~6% of all patents and applications that ETSI categorized as 5G.*     

 © 2020 InterDigital, Inc. All Rights Reserved.  A Portfolio that Combines Depth and Breadth Across Technologies  9  The InterDigital portfolio now brings together >32,000 patent assets that show enormous strength in key wireless and video technologies but also broad diversity across the entire gamut of technology needs.  Data as of 9/11/2020   

 A History of Long-Term Customers  © 2020 InterDigital, Inc. All Rights Reserved.  10    Shipments  Years as InterDigital Licensee  10+ Years  >10 others  Some companies – among them Samsung, Panasonic, NEC, Kyocera and Sharp – have been customers / under license for 20+ years.Apple and Samsung have been licensed since before they started shipping iPhones and GalaxiesEvery handset customer that has ever signed a license and remains in the industry is still a customer 

 © 2020 InterDigital, Inc. All Rights Reserved.  Growth Drivers that Build LogicallyOver Several Years  11      Current Revenue Platform of ~$340M  A projected $150M contribution to revenue in 3-5 years (with associated revenue sharing)  An estimated installed base of >62B devices by 2022, of which >10% will be high-value devices using cellular, as well as IoT middleware  A new market paradigm, that expands cellular wireless beyond handsets into a broad variety of areas and use cases             LTE CYCLE + VIDEO        CONSUMER ELECTRONICS  IoT  5G  Drive core smartphone recurring annual revenue base to $500M+   

 © 2020 InterDigital, Inc. All Rights Reserved.  12  Since June 2014, we’ve bought back more than $600 million in sharesWe announced another $100 million increase to our buyback authorization in May 2019Approximately $72 million remains available under the existing buyback authorization  A Capital Allocation Strategy that Balances Future Strength with Returning Value  Show Strength  Ensure R&D Progress  Return Cash to Shareholders  Opportunistic Resources  A strong balance sheet shows staying power in negotiations  Essential to keep pace with fast-moving industry  3 dividend increases in 5 years, buyback program ensure balanced return of value to shareholders  Examine modest acquisitions or opportunities to strengthen portfolio   

   © 2020 InterDigital, Inc. All Rights Reserved. 

XML

Document and Entity Information	Sep. 24, 2020
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Sep. 24, 2020
Entity Registrant Name	INTERDIGITAL, INC.
Entity Incorporation, State or Country Code	PA
Entity File Number	1-33579
Entity Tax Identification Number	82-4936666
Entity Address, Address Line One	200 Bellevue Parkway
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Wilmington
Entity Address, State or Province	DE
Entity Address, Postal Zip Code	19809-3727
City Area Code	302
Local Phone Number	281-3600
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0001405495
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	IDCC
Security Exchange Name	NASDAQ