IRIDEX CEO granted RSUs, PSUs and stock options
Mercer Patrick reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
Mercer Patrick reported acquisition or exercise transactions in this Form 4 filing.
IRIDEX CORP President and CEO Patrick Mercer received equity awards on July 10, 2026, including 100,000 restricted stock units, 100,000 performance RSUs that vest if the share price reaches $2.50 for 30 consecutive trading days, and options for 200,000 shares at $1.10 per share. The RSUs and options vest as to one-third of the shares on July 10, 2027 and on each one-year anniversary thereafter, subject to continued service. Following these awards he directly holds 468,784 common shares, plus 100,000 performance units and 200,000 options.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 400,000 shares
Grant/Award
3 txns
Insider
Mercer Patrick
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock option (right to buy) F2 | 200,000 | $0.00 | $0.00 |
| Grant/Award | Performance Restricted Stock Units F3, F4 | 100,000 | $0.00 | $0.00 |
| Grant/Award | Common Stock F1 | 100,000 | $0.00 | $0.00 |
Holdings After Transaction:
Stock option (right to buy) — 200,000 contracts (Direct);
Performance Restricted Stock Units — 100,000 contracts (Direct);
Common Stock — 468,784 shares (Direct)
Footnotes (4)
- F1. 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. The RSUs vest as to one-third of the shares on July 10, 2027 and each one-year anniversary thereafter, subject to the Reporting Person continuing as a service provider through each such date.
- F2. The option vests as to one-third of the Shares on July 10, 2027 and each one-year anniversary thereafter, subject to the Reporting Person continuing as a service provider through each such date.
- F3. Each performance restricted stock unit (PSU) represents a contingent right to receive one share of the Issuer's Common Stock.
- F4. 100% of the PSUs vest if the Issuer's per share stock price reaches or exceeds $2.50 for 30 consecutive trading days based on a 30-day VWAP (volume weighted adjusted average).
Key Figures
RSU grant: 100,000 shares
Performance RSUs granted: 100,000 shares
Stock options granted: 200,000 shares
+4 more
7 metrics
RSU grant
100,000 shares
Restricted stock units representing common stock granted on July 10, 2026
Performance RSUs granted
100,000 shares
Performance restricted stock units expiring on July 10, 2029
Stock options granted
200,000 shares
Stock options (right to buy common stock) granted on July 10, 2026
Option exercise price
$1.10 per share
Exercise price for 200,000 stock options expiring July 10, 2033
PSU stock price hurdle
$2.50 per share
Price required for 100% PSU vesting over 30 consecutive trading days
Shares held after award
468,784 shares
Direct common stock holdings following the non-derivative grant
PSU performance period
30 consecutive trading days
Issuer’s per share stock price must meet the hurdle based on 30-day VWAP
Key Terms
restricted stock unit (RSU), performance restricted stock unit (PSU), VWAP
3 terms
restricted stock unit (RSU) financial
"Each share is represented by a restricted stock unit (RSU)."
A restricted stock unit (RSU) is a promise from a company to give an employee company shares (or cash equal to their value) at a future date if certain conditions are met, such as staying with the company or hitting performance targets. For investors, RSUs matter because when they convert into actual shares they increase the number of shares available and can create selling pressure as employees cash out—think of them as a future paycheck paid in company stock.
performance restricted stock unit (PSU) financial
"Each performance restricted stock unit (PSU) represents a contingent right"
VWAP financial
"based on a 30-day VWAP (volume weighted adjusted average)."
VWAP, or Volume-Weighted Average Price, is a way to find the average price of a stock throughout the trading day, giving more importance to times when more shares are traded. It helps traders see the typical price and decide whether a stock is expensive or cheap compared to its average, similar to finding the average speed during a trip by giving more weight to times when you traveled faster or slower.
FAQ
What equity awards did IRIDEX CORP (IRIX) CEO Patrick Mercer receive on July 10, 2026?
Patrick Mercer received 100,000 restricted stock units, 100,000 performance RSUs tied to a share-price hurdle, and options for 200,000 shares with a $1.10 exercise price, all granted as equity compensation awards.
How do the time-based RSUs and stock options for IRIX CEO Patrick Mercer vest?
The RSUs and options vest as to one-third of the shares on July 10, 2027 and on each one-year anniversary thereafter, conditioned on Mr. Mercer continuing as a service provider through each vesting date.
What performance condition applies to Patrick Mercer’s IRIDEX CORP performance RSUs (PSUs)?
One hundred percent of the performance RSUs vest if IRIDEX CORP’s per share stock price reaches or exceeds $2.50 for 30 consecutive trading days, measured using a 30-day VWAP (volume weighted adjusted average).
What are Patrick Mercer’s IRIDEX CORP holdings after these July 2026 equity grants?
After the grants, Patrick Mercer holds 468,784 common shares directly, plus 100,000 performance restricted stock units and 200,000 stock options to acquire additional shares, according to the reported post-transaction balances.
Were Patrick Mercer’s IRIDEX CORP Form 4 transactions open-market stock purchases?
No. The Form 4 reports grant/award acquisitions coded “A,” with a $0.00 transaction price per unit. These are equity compensation awards, not open-market purchases or sales of IRIDEX CORP common stock.
AI-generated analysis. How Rhea-AI works. Not financial advice.
