IRIDEX corrects CEO Bruce's resignation date; details severance and Mercer's CEO comp

IRIDEX CORP

David Bruce terminated as CEO Oct 1, resigned board Nov 22, 2024; no disagreement with company policies.
Separation agreement: $45K lump sum ($20K COBRA, $25K intangibles) plus accelerated vesting of 19,913 RSUs and options for 40,431 shares.
New CEO Patrick Mercer retains $360K base salary, annual target bonus 65% of base, amended change-in-control severance (150% base salary).

item 5.02

Executive movements

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Departed

David Bruce

Chief Executive Officer

IRIX · IRIDEX CORP

Effective: 2024-10-01
Filed: November 26, 2024, 6:59 PM ET

On October 1, 2024, Dave Bruce was terminated as the Company’s Chief Executive Officer and principal executive officer, effective immediately, and on November 22, 2024, Mr. Bruce resigned from the Board, effective immediately.

Departed

David Bruce

Director

IRIX · IRIDEX CORP

Effective: 2024-11-22
Filed: November 26, 2024, 6:59 PM ET

on November 22, 2024, Mr. Bruce resigned from the Board, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

David Bruce was terminated as Chief Executive Officer at IRIDEX CORP.

Action: terminated
Role: Chief Executive Officer

Exact text from the filing

On October 1, 2024, Dave Bruce was terminated as the Company’s Chief Executive Officer and principal executive officer, effective immediately, and on November 22, 2024, Mr. Bruce resigned from the Board, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

David Bruce resigned as Director at IRIDEX CORP.

Action: resigned
Role: Director

Exact text from the filing

on November 22, 2024, Mr. Bruce resigned from the Board, effective immediately.

View on SEC.gov

IRIDEX CORP filing history →

Source: SEC EDGAR

accession 0000950170-24-130699

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