Patrick Mercer - 27 Oct 2022 Form 4 Insider Report for IRIDEX CORP (IRIX)

Role: COO
Signature: /s/ Nilo De Castro, Attorney-in-Fact for Patrick Mercer
Issuer symbol: IRIX
Transactions as of: 27 Oct 2022
Transactions value $: -$161
Form type: 4
Filing time: 31 Oct 2022, 19:22:44 UTC
Previous filing: 03 Oct 2022
Next filing: 24 May 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IRIX	Common Stock	Award	$0	+35,570	+69%	$0	87,354	27 Oct 2022	Direct	F1
transaction	IRIX	Common Stock	Tax liability	-$161	-71	-0.08%	$2.27	87,283	30 Oct 2022	Direct	F2

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	Stock Option (Right to buy)	Award	$0	+72,218		$0	72,218	27 Oct 2022	Common Stock	72,218	$2.28	Direct	F3

* 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 June 30, 2023 and each one-year anniversary thereafter, subject to the Reporting Person continuing as a service provider through each such date.
F2	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 restricted stock units and does not represent a sale by the Reporting Person.
F3	The option vests as to one-third of the shares on June 30, 2023 and each one-year anniversary thereafter, subject to the Reporting Person continuing as a service provider through each such date.