Form 4: Iridex Corp Executive Mercer Reports Tax Withholding Share Disposition
SEC Form 4 Filing
Patrick Mercer, President and COO of Iridex Corp, reports disposition of shares to cover tax obligations related to settled restricted stock units.
Summary
- On June 30, 2024, Patrick Mercer, the President and COO of Iridex Corp, had 4,123 shares of common stock withheld by the issuer to cover income tax obligations.
- The shares were withheld at a price of $2.16 per share.
- Following the transaction, Mercer directly owns 195,317 shares of Iridex Corp.
- The transaction was an exempt disposition to the Issuer under Rule 16b-3(e) and does not represent a sale by the Reporting Person.
Sentiment
Score: 5
Explanation: This is a neutral event related to tax obligations, not indicative of positive or negative sentiment regarding the company's performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard tax withholding procedure related to the vesting of restricted stock units.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for tax withholding.
Key Dates
| Date | Description |
|---|---|
| 06/30/2024 | Date of transaction: Shares withheld to cover tax obligations. |
| 07/02/2024 | Date of signature on the Form 4 filing. |
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