secwatch.observer — SEC 8-K summary
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Issuer:     IRIDEX CORP (IRIX)
CIK:        0001006045
Form:       8-K/A
Filed at:   2024-11-26T23:59:59+00:00
Accession:  0000950170-24-130699
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1006045/000095017024130699/0000950170-24-130699-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1006045/000095017024130699/irix-20241107.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-130699

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer