11/26/2024 | Press release | Distributed by Public on 11/26/2024 05:07
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 22, 2024, the board of directors (the "Board") of IRIDEX Corporation (the "Company") appointed Patrick Mercer, the Company's current President, Chief Executive Officer and Chief Operating Officer, to serve as a member of the Board, with an initial term expiring at the Company's 2025 annual meeting of stockholders, effective immediately.
The background and business experience of Mr. Mercer and information regarding any transactions between Mr. Mercer and the Company are subject to disclosure under Item 404(a) of Regulation S-K and are disclosed in the Company's proxy statement for its 2024 annual meeting of stockholders, as filed with the Securities Exchange Commission on April 29, 2024. There are no arrangements or understandings between Mr. Mercer and any other persons pursuant to which he was appointed to the Board. No changes are expected to be made to Mr. Mercer's existing compensatory arrangements in connection with such appointment and he will not receive additional compensation for his services as a member of our Board in accordance with the Company's non-employee director cash compensation policy.