Iridex Board Member Gets Major Stock Options Package at 53% Below Market

Rhea-AI Filing Summary

Iridex Corp director William M. Moore received two stock option grants on June 13, 2025, as reported in this Form 4 filing:

• First grant: 53,000 stock options with exercise price of $0.94, vesting fully on either the one-year anniversary or 2026 annual meeting
• Second grant: 15,000 stock options with exercise price of $0.94, vesting monthly over four years starting July 13, 2025

Both options were granted under the company's 2008 Equity Incentive Plan and expire on June 13, 2032. The grants are exempt under Rule 16b-3. This compensation structure aligns the director's interests with shareholders through both short-term and long-term vesting schedules. The low exercise price suggests the stock may be trading near historical lows.

Positive

• Director William Moore was granted significant stock options totaling 68,000 shares at $0.94 per share, demonstrating long-term alignment with shareholder interests through multi-year vesting schedules

Negative

• None.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider MOORE WILLIAM M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock (right to buy)	53,000	$0.00	--
Grant/Award	Common Stock (right to buy)	15,000	$0.00	--

Holdings After Transaction: Common Stock (right to buy) — 53,000 shares (Direct)

Footnotes (1)

1. This option was granted pursuant to the Company's 2008 Equity Incentive Plan, as amended, and is exempt pursuant to Rule16b-3. All shares underlying this option shall vest and become exercisable upon the earlier of (i) the one-year anniversary of the grant date or (ii) the Company's 2026 annual meeting of stockholders. The shares are subject to vesting according to the following schedule: 1/48 of the total number of shares subject to the option shall vest on July 13, 2025, and each month thereafter, such that the option shall be fully vested on the earlier of (i) the four-year anniversary of the grant date or (ii) the Company's 2029 annual meeting of stockholders.

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^*

MOORE WILLIAM M

(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)

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

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

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

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

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)(1)	$0.94	06/13/2025		A		53,000		(2)	06/13/2032	Common Stock	53,000	$0	53,000	D
Common Stock (right to buy)(1)	$0.94	06/13/2025		A		15,000		(3)	06/13/2032	Common Stock	15,000	$0	15,000	D

Explanation of Responses:

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

2. All shares underlying this option shall vest and become exercisable upon the earlier of (i) the one-year anniversary of the grant date or (ii) the Company's 2026 annual meeting of stockholders.

3. The shares are subject to vesting according to the following schedule: 1/48 of the total number of shares subject to the option shall vest on July 13, 2025, and each month thereafter, such that the option shall be fully vested on the earlier of (i) the four-year anniversary of the grant date or (ii) the Company's 2029 annual meeting of stockholders.

	/s/ Nilo De Castro, Attorney-in-fact for William Moore	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).
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FAQ

What stock options did IRIX director William Moore receive on June 13, 2025?

William Moore received two stock option grants on June 13, 2025: (1) 53,000 options with an exercise price of $0.94 that vest after one year or by the 2026 annual meeting, and (2) 15,000 options with an exercise price of $0.94 that vest monthly over four years starting July 13, 2025.

What is the exercise price of IRIX stock options granted to William Moore?

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

When do William Moore's IRIX stock options expire?

Both stock option grants expire on June 13, 2032, seven years from the grant date.

What is the vesting schedule for William Moore's 15,000 IRIX stock options?

The 15,000 stock options vest in monthly installments of 1/48th starting July 13, 2025, becoming fully vested by either the four-year anniversary of the grant date or the Company's 2029 annual meeting, whichever comes first.

Who filed this Form 4 for IRIX director William Moore?

The Form 4 was signed by Nilo De Castro, acting as Attorney-in-fact for William Moore, on June 24, 2025.