Form 4: Iridex CEO David Bruce Reports Changes in Beneficial Ownership After Tax Withholding
SEC Filing
David Bruce, CEO of Iridex Corp, reports changes in beneficial ownership of common stock due to shares withheld for tax obligations related to restricted stock units.
Summary
- David Bruce, the CEO of Iridex Corp, filed a Form 4 detailing changes in his beneficial ownership of the company's common stock.
- On June 30, 2023, 10,112 shares were withheld at a price of $2.17 per share to cover income tax obligations related to the net settlement of restricted stock units.
- On July 4, 2023, 4,640 shares were withheld at a price of $2.14 per share for the same reason.
- Following these transactions, Bruce directly owns 138,366 shares of Iridex common stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to tax withholding on stock units, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard tax withholding procedures related to equity compensation.
Stakeholder Impact
- The change in beneficial ownership may have a minor impact on shareholders due to the reduced number of shares held by the CEO.
Key Dates
| Date | Description |
|---|---|
| 06/30/2023 | 10,112 shares of common stock withheld to satisfy tax obligations at $2.17 per share. |
| 07/04/2023 | 4,640 shares of common stock withheld to satisfy tax obligations at $2.14 per share. |
| 05/30/2024 | Date of signature for the report. |
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