IRIDEX CORP Appoints New CFO, Grants Stock Awards
Ticker: IRIX · Form: 8-K · Filed: Oct 3, 2024 · CIK: 1006045
| Field | Detail |
|---|---|
| Company | Iridex Corp (IRIX) |
| Form Type | 8-K |
| Filed Date | Oct 3, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, compensation, personnel-change
TL;DR
IRIDEX CORP just hired a new CFO, Michael McCurdy, with a $300k salary and stock options.
AI Summary
IRIDEX CORP announced on October 1, 2024, the appointment of Michael J. McCurdy as Chief Financial Officer, effective October 3, 2024. McCurdy will receive an annual base salary of $300,000 and is eligible for an annual bonus. He will also be granted 150,000 restricted stock units, vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategy and performance.
Key Numbers
- $300,000 — CFO Annual Salary (Base compensation for Michael J. McCurdy)
- 150,000 — RSUs Granted (Stock incentive for new CFO, vesting over three years)
Key Players & Entities
- IRIDEX CORP (company) — Registrant
- Michael J. McCurdy (person) — Appointed Chief Financial Officer
- $300,000 (dollar_amount) — Annual base salary for new CFO
- 150,000 (dollar_amount) — Restricted stock units granted to new CFO
- October 1, 2024 (date) — Date of announcement
- October 3, 2024 (date) — Effective date for new CFO
FAQ
What is the effective date of Michael J. McCurdy's appointment as CFO?
Michael J. McCurdy's appointment as Chief Financial Officer is effective October 3, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Michael J. McCurdy is $300,000.
What stock awards will the new CFO receive?
Michael J. McCurdy will be granted 150,000 restricted stock units, which will vest over a three-year period.
Is the new CFO eligible for a bonus?
Yes, Michael J. McCurdy is eligible for an annual bonus.
What is the company's primary business?
IRIDEX CORP operates in the Electromedical & Electrotherapeutic Apparatus industry, SIC code 3845.
Filing Stats: 581 words · 2 min read · ~2 pages · Grade level 11.6 · Accepted 2024-10-03 17:04:18
Key Financial Figures
- $0.01 — ch Registered Common Stock, par value $0.01 per share IRIX Nasdaq Capital Marke
Filing Documents
- irix-20241001.htm (8-K) — 47KB
- irix-ex99_1.htm (EX-99.1) — 9KB
- 0000950170-24-112474.txt ( ) — 174KB
- irix-20241001.xsd (EX-101.SCH) — 29KB
- irix-20241001_htm.xml (XML) — 4KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits . (d) Exhibits Exhibit No. Description 99.1 Press Release issued by IRIDEX Corporation dated October 3, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
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. IRIDEX CORPORATION By: /s/ Patrick Mercer Patrick Mercer President and Chief Executive Officer Date: October 3, 2024