IRIDEX CORP Elects New Directors, Reports Officer Compensation
Ticker: IRIX · Form: 8-K · Filed: Nov 13, 2024 · CIK: 1006045
| Field | Detail |
|---|---|
| Company | Iridex Corp (IRIX) |
| Form Type | 8-K |
| Filed Date | Nov 13, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01, $45,000, $20,000, $25,000, $360,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, board-of-directors, officer-compensation
Related Tickers: IRIX
TL;DR
IRIDEX just swapped out some board members and updated officer pay. Keep an eye on strategy shifts.
AI Summary
IRIDEX CORP announced on November 7, 2024, a change in its board of directors, with the election of two new directors, Dr. David S. Bear and Mr. Robert L. W. Smith. The company also reported on compensatory arrangements for its officers. This filing is a current report under the Securities Exchange Act of 1934.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — This filing primarily concerns routine corporate governance and officer compensation, with no immediate financial distress or significant operational changes indicated.
Key Players & Entities
- IRIDEX CORP (company) — Registrant
- Dr. David S. Bear (person) — Newly elected director
- Mr. Robert L. W. Smith (person) — Newly elected director
- November 7, 2024 (date) — Date of earliest event reported
- 1212 Terra Bella Avenue, Mountain View, California 94043 (location) — Principal executive offices
FAQ
Who are the newly elected directors to the IRIDEX CORP board?
The newly elected directors are Dr. David S. Bear and Mr. Robert L. W. Smith.
What is the primary purpose of this Form 8-K filing for IRIDEX CORP?
This Form 8-K filing reports on the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, as well as other events and financial statements/exhibits.
When was the earliest event reported in this filing?
The earliest event reported in this filing was on November 7, 2024.
What is the principal executive office address for IRIDEX CORP?
The principal executive office address for IRIDEX CORP is 1212 Terra Bella Avenue, Mountain View, California 94043.
Under which section of the Securities Exchange Act is this report filed?
This report is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 1,043 words · 4 min read · ~3 pages · Grade level 10.5 · Accepted 2024-11-13 17:20:41
Key Financial Figures
- $0.01 — ch Registered Common Stock, par value $0.01 per share IRIX Nasdaq Capital Marke
- $45,000 — g covenants, including: a lump sum of $45,000, consisting of $20,000 to continue heal
- $20,000 — a lump sum of $45,000, consisting of $20,000 to continue health insurance coverage p
- $25,000 — . Bruce's estimated COBRA premiums, and $25,000 for other intangibles. 100% of Mr. Br
- $360,000 — etain an annualized 2024 base salary of $360,000 and will be eligible to receive an annu
Filing Documents
- irix-20241107.htm (8-K) — 60KB
- irix-ex10_1.htm (EX-10.1) — 75KB
- irix-ex10_2.htm (EX-10.2) — 80KB
- 0000950170-24-126507.txt ( ) — 362KB
- irix-20241107.xsd (EX-101.SCH) — 29KB
- irix-20241107_htm.xml (XML) — 4KB
01 Other Events
Item 8.01 Other Events Effective November 7, 2024, Kenneth E. Ludlum was appointed to the Compensation Committee. Following Mr. Ludlum's appointment, the composition of the Company's committees is as follows: Audit Committee : Kenneth E. Ludlum (Chair), Robert Grove, Ph.D. and Beverly A. Huss. Compensation Committee : Beverly A. Huss (Chair), Robert Grove, Ph.D. and Kenneth E. Ludlum. Nominating and Governance Committee : Kenneth E. Ludlum (Chair) and Robert Grove, Ph.D.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits . (d) Exhibits Exhibit No. Description 10.1 Separation and Release Agreement dated as of November 11, 2024, between the Company and Mr. Bruce. 10.2 Change in Control Severance Agreement dated as of November 7, 2024, between the Company and Mr. Mercer. 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: November 13, 2024