IRIDEX (NASDAQ: IRIX) 10% holder gets interest paid in stock

Rhea-AI Filing Summary

IRIDEX CORP reported that major shareholder Novel Inspiration International Co., Ltd. received 87,949 shares of Common Stock on April 1, 2026. These shares were issued as a quarterly interest payment on a Convertible Promissory Note dated March 19, 2025.

After this stock-for-interest transaction, Novel Inspiration holds a total of 439,432 IRIDEX common shares directly. The Form 4 is filed jointly with Shih-Yao David Lin, who is the sole officer, director and stockholder of Novel Inspiration, but the shares are owned by the company, not by Lin personally.

Insights

Equity capital markets analyst

IRIDEX paid note interest in stock to a 10% holder, a non-cash, routine-looking event.

IRIDEX issued 87,949 common shares to Novel Inspiration International as a quarterly interest payment on a Convertible Promissory Note dated March 19, 2025. This is classified as an "other" transaction, not an open-market buy or sell, and resembles a payment-in-kind structure.

Following the issuance, Novel Inspiration directly holds 439,432 shares, remaining a significant shareholder. Because this is compensation for interest rather than a discretionary trade, it mainly signals ongoing use of equity-linked financing rather than a change in insider conviction. The overall impact appears administratively neutral for existing investors.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Novel Inspiration International Co., Ltd., Lin Shih-Yao David

Role 10% Owner | 10% Owner

Type	Security	Shares	Price	Value
Other	Common Stock	87,949	$0.00	$0.00

Holdings After Transaction: Common Stock — 439,432 shares (Direct)

Footnotes (3)

1. F1. This Form 4 is filed jointly by Novel Inspiration International Co., Ltd. ("Novel Inspiration") and Shih-Yao David Lin. Mr. Lin is the sole officer, director and stockholder of Novel Inspiration.
2. F2. The shares were issued as a quarterly interest payment on the Convertible Promissory Note issued March 19, 2025 by the Issuer to Novel Inspiration.
3. F3. The shares are owned directly by Novel Inspiration.

Key Figures

Shares issued as interest: 87,949 shares Post-transaction holdings: 439,432 shares Note issue date: March 19, 2025

3 metrics

Shares issued as interest 87,949 shares Quarterly interest payment on Convertible Promissory Note

Post-transaction holdings 439,432 shares Novel Inspiration common shares after April 1, 2026 transaction

Note issue date March 19, 2025 Convertible Promissory Note issued by IRIDEX to Novel Inspiration

Key Terms

Convertible Promissory Note, quarterly interest payment, ten percent owner, Common Stock

4 terms

Convertible Promissory Note financial

"quarterly interest payment on the Convertible Promissory Note issued March 19, 2025"

A convertible promissory note is a loan a company takes now that can later be turned into shares instead of being repaid in cash. Think of it as lending money with the option to accept ownership in the business down the road; that matters to investors because it affects who gets paid first, how much ownership existing shareholders keep, and the company’s future valuation and cash needs. Terms such as conversion price, interest and maturity determine the financial impact.

quarterly interest payment financial

"The shares were issued as a quarterly interest payment on the Convertible Promissory Note"

ten percent owner financial

"Novel Inspiration International Co., Ltd. is listed as a ten percent owner"

Common Stock financial

"transaction involved 87,949 shares of Common Stock"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

FAQ

What insider transaction did IRIDEX (IRIX) report in this Form 4?

IRIDEX reported that major shareholder Novel Inspiration International received 87,949 shares of Common Stock on April 1, 2026. The shares were issued as a quarterly interest payment on a Convertible Promissory Note, rather than purchased or sold in the open market.

Who is Novel Inspiration International in relation to IRIDEX (IRIX)?

Novel Inspiration International is a ten percent owner of IRIDEX, making it a significant shareholder. The Form 4 notes the filing is joint with Shih-Yao David Lin, who is the sole officer, director and stockholder of Novel Inspiration, while the shares are owned directly by the company.

How many IRIDEX (IRIX) shares did Novel Inspiration receive and why?

Novel Inspiration received 87,949 IRIDEX common shares as a quarterly interest payment. The footnotes explain these shares compensate interest on a Convertible Promissory Note issued by IRIDEX on March 19, 2025, reflecting a stock-based interest arrangement instead of a cash payment.

What is Novel Inspiration’s total IRIDEX (IRIX) shareholding after this transaction?

After receiving the 87,949 interest-payment shares, Novel Inspiration holds 439,432 IRIDEX common shares directly. This total is reported as the number of shares beneficially owned following the transaction, confirming its ongoing status as a significant ten percent owner of the company.

Was this IRIDEX (IRIX) Form 4 an open-market buy or sell?

No, the transaction was not an open-market buy or sell. It is coded as an "other" transaction where IRIDEX issued 87,949 shares to Novel Inspiration as a quarterly interest payment on a Convertible Promissory Note, rather than through trading on the stock market.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 04/03/2026 - 01:55 PM Learn about SEC filing dates

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^*

Novel Inspiration International Co., Ltd.

(Last) (First) (Middle)

VISTRA CORPORATE SERVICES CENTER

WICKHAMS CAY II

(Street)

ROAD TOWN, TORTOLA VG1110

(City) (State) (Zip)

VIRGIN ISLANDS, BRITISH

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

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

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

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

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(1)	04/01/2026		J(2)		87,949	A	(2)	439,432	D(3)

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

1. Name and Address of Reporting Person^*

Novel Inspiration International Co., Ltd.

(Last) (First) (Middle)

VISTRA CORPORATE SERVICES CENTER

WICKHAMS CAY II

(Street)

ROAD TOWN, TORTOLA VG1110

(City) (State) (Zip)

VIRGIN ISLANDS, BRITISH

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Lin Shih-Yao David

(Last) (First) (Middle)

VISTRA CORPORATE SERVICES CENTER

WICKHAMS CAY II

(Street)

ROAD TOWN, TORTOLA VG1110

(City) (State) (Zip)

VIRGIN ISLANDS, BRITISH

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. This Form 4 is filed jointly by Novel Inspiration International Co., Ltd. ("Novel Inspiration") and Shih-Yao David Lin. Mr. Lin is the sole officer, director and stockholder of Novel Inspiration.

2. The shares were issued as a quarterly interest payment on the Convertible Promissory Note issued March 19, 2025 by the Issuer to Novel Inspiration.

3. The shares are owned directly by Novel Inspiration.

	Novel Inspiration International Co., Ltd, By: /s/ Shih-Yao David Lin, Chief Executive Officer	04/03/2026
	/s/ Shih-Yao David Lin	04/03/2026
	** 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.
* Form 4: SEC 1474 (03-26)