Patrick Mercer - Aug 5, 2021 Form 4 Insider Report for IRIDEX CORP (IRIX)

Role
COO
Signature
/s/ Nilo De Castro, Attorney-in-fact for Patrick Mercer
Stock symbol
IRIX
Transactions as of
Aug 5, 2021
Transactions value $
-$34,584
Form type
4
Date filed
8/9/2021, 08:14 PM
Previous filing
Aug 2, 2021
Next filing
Aug 31, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IRIX Common Stock Award $0 +17.5K +57.19% $0.00 48.1K Aug 5, 2021 Direct F1
transaction IRIX Common Stock Award $0 +15.2K +31.62% $0.00 63.3K Aug 5, 2021 Direct F2
transaction IRIX Common Stock Tax liability -$34.6K -5.26K -8.31% $6.58 58K Aug 5, 2021 Direct F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction IRIX Employee Stock Option (right to buy) Award $0 +35.5K $0.00 35.5K Aug 5, 2021 Common Stock 35.5K $6.58 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share is represented by a restricted stock unit (RSU). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock upon settlement. The RSUs vest as to one-third of the shares on July 4, 2022 and each one-year anniversary thereafter, subject to the Reporting Person continuing as a service provider through each such date.
F2 15,200 performance share units granted to the Reporting Person on October 22, 2019, and modified on August 5, 2021 were released upon the achievement of performance criteria.
F3 These shares have been withheld in an exempt disposition to the Issuer under Rule 16b-3(e), to satisfy the Issuer's income tax withholding and remittance obligations in connection with the net settlement of performance stock units and does not represent a sale by the Reporting Person.
F4 The option vests as to one-third of the shares on July 4, 2022 and each one-year anniversary thereafter, subject to the Reporting Person continuing as a service provider through each such date.