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.
2017 MBO Plan
On March 7, 2017, the Board of Directors (the “Board”) approved the Company’s 2017 “Management By Objectives” Plan (the “MBO Plan”). Mr. Moore and Mr. Mokari are eligible to participate in the MBO Plan. Mr. Moore’s maximum amount payable under the MBO Plan is $225,000 and Mr. Mokari’s maximum amount payable under the MBO Plan is $133,900.
Awards under the MBO Plan are based upon the achievement of certain objectives specific to each MBO Plan participant. Mr. Moore’s award under the MBO Plan is subject to the Company’s achievement of certain revenue and earnings targets, as well as certain other financial and operations-related performance goals specific to Mr. Moore. Mr. Mokari’s award under the MBO Plan is subject to the Company’s achievement of certain revenue and expense targets, as well as certain other operations-related performance goals specific to Mr. Mokari.
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. IRIDEX CORPORATION (NASDAQ:IRIX) Recent Trading Information
IRIDEX CORPORATION (NASDAQ:IRIX) closed its last trading session down -0.30 at 13.71 with 35,641 shares trading hands.
