Iridex Chief Executive Gains 144K Share Rights in Long-term Retention Deal

Rhea-AI Filing Summary

This Form 4/A amendment reports insider trading activity for Patrick Mercer, President and CEO of Iridex Corp (IRIX), correcting a filing from June 17, 2025. The transactions occurred on June 13, 2025 and include two key components:

• Restricted Stock Units (RSUs): Acquired 33,370 RSUs at $0.94 per share. These RSUs vest over three years, with one-third vesting annually starting June 13, 2026, contingent on continued service
• Stock Options: Granted rights to purchase 111,240 shares of common stock at an exercise price of $0.94 per share. These options vest over three years (one-third annually) and expire on June 13, 2032

Following these transactions, Mercer directly owns 420,100 shares. The equity awards were granted under the company's 2008 Equity Incentive Plan and are exempt under Rule 16b-3. This compensation structure aligns the CEO's interests with long-term shareholder value through significant equity ownership requirements and performance incentives.

Positive

• CEO Patrick Mercer received significant equity compensation package: 33,370 RSUs ($31,368) and 111,240 stock options, demonstrating long-term alignment with shareholders

Negative

• None.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Mercer Patrick

Role President and CEO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock (right to buy)	111,240	$0.00	--
Grant/Award	Common Stock	33,370	$0.94	$31K

Holdings After Transaction: Common Stock (right to buy) — 111,240 shares (Direct); Common Stock — 420,100 shares (Direct)

Footnotes (1)

1. Each share is represented by a restricted stock unit (RSU). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock upon settlement. The RSUs vest as to one-third of the shares on June 13, 2026 and each one-year anniversary thereafter, subject to the Reporting Person continuing as a service provider through each such date. This option was granted pursuant to the Company's 2008 Equity Incentive Plan, as amended, and is exempt pursuant to Rule16b-3. The shares are subject to vesting according to the following schedule: 1/3 of the Shares subject to the Option will vest each one-year anniversary of the date of grant.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Mercer Patrick

(Last) (First) (Middle)

1212 TERRA BELLA AVENUE

(Street)

MOUNTAIN VIEW CA 94043

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
IRIDEX CORP [ IRIX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
06/13/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
06/17/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/13/2025		A		33,370(1)	A	$0.94	420,100	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock (right to buy)(2)	$0.94	06/13/2025		A		111,240		(3)	06/13/2032	Common Stock	111,240	$0	111,240	D

Explanation of Responses:

1. Each share is represented by a restricted stock unit (RSU). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock upon settlement. The RSUs vest as to one-third of the shares on June 13, 2026 and each one-year anniversary thereafter, subject to the Reporting Person continuing as a service provider through each such date.

2. This option was granted pursuant to the Company's 2008 Equity Incentive Plan, as amended, and is exempt pursuant to Rule16b-3.

3. The shares are subject to vesting according to the following schedule: 1/3 of the Shares subject to the Option will vest each one-year anniversary of the date of grant.

	/s/ Nilo De Castro, Attorney-in-fact for Patrick Mercer	06/24/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many IRIX shares did CEO Patrick Mercer acquire on June 13, 2025?

On June 13, 2025, Patrick Mercer acquired 33,370 restricted stock units (RSUs) at $0.94 per share and 111,240 stock options of IRIX common stock.

What is the vesting schedule for Patrick Mercer's new IRIX RSUs?

The RSUs vest in three equal annual installments, with one-third of the shares vesting on June 13, 2026, and each one-year anniversary thereafter, contingent on Mercer continuing as a service provider through each vesting date.

What is the expiration date for IRIX CEO's stock options granted in June 2025?

The stock options granted to Patrick Mercer on June 13, 2025, have an expiration date of June 13, 2032, giving him a 7-year exercise window.

How many IRIX shares does Patrick Mercer own after the June 2025 transaction?

Following the reported transaction, Patrick Mercer directly owns 420,100 shares of IRIX common stock, plus 111,240 stock options and 33,370 RSUs subject to vesting.

What is the exercise price of IRIX stock options granted to CEO in June 2025?

The stock options were granted with an exercise price of $0.94 per share under the Company's 2008 Equity Incentive Plan.