IRIDEX CORPORATION (NASDAQ:IRIX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of Director
On April 13, 2018, George Marcellino resigned from the board of directors (the “Board”) of Iridex Corporation (the “Company”) and the Nominating and Governance Committee of the Board (the “Nominating and Governance Committee”), in each case effective as of April 13, 2018.Mr. Marcellino did not resign due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
(d)Appointment of Directors
On April 13, 2018, the Company appointed David Bruce and Maria Sainz to the Board, effective as of April 13, 2018. In addition, Mr. Bruce will be appointed to the Compensation Committee of the Board (the “Compensation Committee”) and Ms. Sainz will be appointed to the Compensation Committee and the Nominating and Governance Committee.
Mr. Bruce and Ms. Sainz will receive standard compensation available to non-employee members of the Board and committees of the Board and each will receive an option to purchase 15,000 shares of the Company’s common stock which vests in in equal monthly installments over four years following the effective date of the grant. In addition, it is expected that Mr. Bruce and Ms. Sainz will execute the Company’s standard form of indemnification agreement.
There are no arrangements or understandings between Mr. Bruce or Ms. Sainz and any other person to which Mr. Bruce or Ms. Sainz was elected as directors of the Company.There are no family relationships between Mr. Bruce or Ms. Sainz and any director or executive officer of the Company, and, other than as described above, no transactions involving Mr. Bruce or Ms. Sainz that would require disclosure under Item 404(a) of Regulation S-K.
The Company’s press release dated April 16, 2018 regarding Mr. Bruce and Ms. Sainz’s appointments is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Financial Statements and Exhibits.
*Incorporated by reference to the Exhibits filed with the Registrant’s Report on Form 8-K on July 11, 2016.
IRIDEX CORP ExhibitEX-99.1 2 irix-ex991_52.htm EX-99.1 irix-ex991_52.htm Exhibit 99.1 IRIDEX Announces Appointment of Maria Sainz and David Bruce to its Board of Directors Mountain View,…To view the full exhibit click here About IRIDEX CORPORATION (NASDAQ:IRIX) IRIDEX Corporation is a provider of therapeutic based laser consoles, delivery devices and consumable instrumentation used to treat sight-threatening eye diseases in ophthalmology. The Company operates through ophthalmology segment. Its ophthalmology products consist of laser consoles, delivery devices and consumable instrumentation, including laser probes, and are used in the treatment of serious eye diseases, including the over three causes of irreversible blindness, such as diabetic retinopathy, glaucoma and age-related macular degeneration (AMD). In addition, the Company’s ophthalmology products are often used in vitrectomy procedures (used to treat proliferative diabetic retinopathy, macular holes, retinal tears and detachments), which are generally performed in the operating room and require a consumable single use intraocular laser probe (EndoProbe) to deliver light to the back of the eye together with other instrumentation.