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irix-8k_20200120.htm

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8‑K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

 

January 20, 2020

 

(Date of Report (date of earliest event reported)

IRIDEX CORPORATION

(Exact name of registrant as specified in its charter)

Delaware

0-27598

77-0210467

(State or other jurisdiction of
incorporation or organization)

(Commission File Number)

(I.R.S. Employer
Identification Number)

1212 Terra Bella Avenue
Mountain View, California 94043

(Address of principal executive offices, including zip code)

 

(650) 940-4700

 

 

(Registrant’s telephone number, including area code)

 

 

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of Class

 

Trading

Symbol

 

Name of Exchange on Which Registered

Common Stock, par value $0.01 per share

 

IRIX

 

Nasdaq Global Market

 

 

 

 

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.

 

(e) Compensation of Executive Officers

 

2020 Short-Term Incentive Plan

 

On January 20, 2020, the Compensation Committee of the Company’s Board of Directors of IRIDEX Corporation (the “Company”) approved the Company’s 2020 Short-Term Incentive Plan (the “STI Plan”).  David I. Bruce, the Company’s President and Chief Executive Officer, Patrick Mercer, the Company’s Chief Operating Officer, and Romeo R. Dizon, the Company’s Vice President of Finance, are eligible to participate in the STI Plan.  Mr. Bruce’s, Mr. Mercer’s, and Mr. Dizon’s maximum amount payable under the STI Plan is $258,120, $148,180, and $119,500, respectively.

 

Awards under the STI Plan are based upon the achievement of certain corporate objectives that apply to all STI Plan participants and certain individual objectives specific to each STI Plan participant.  Mr. Bruce’s, Mr. Mercer’s, and Mr. Dizon’s awards under the STI Plan are subject to the Company’s achievement of certain sales targets, as well as certain other financial and operations-related performance goals specific to Mr. Bruce, Mr. Mercer, and Mr. Dizon, respectively.  

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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/ David I. Bruce

 

 

David I. Bruce

President and Chief Executive Officer

Date: January 24, 2020

 

 

 

 

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