The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 Selling Plan adopted by the reporting person on 3/5/13.
This option was granted pursuant to IRIDEX Corporation's 2008 Equity Incentive Plan and is exempt to Rule 16b-3.
The shares are subject to vesting according to the following schedule: 1/48th of the total number of shares vest each month.
The shares shall vest as follows: 12/48ths of the shares shall vest 12 months after the Vesting Commencement Date and 1/48th of the shares shall vest each month thereafter.
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here. IRIDEX Corporation next reports earnings on April 28, 2014.
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Other recent filings from the company include the following:
IRIDEX Corporation's CFO and COO just cashed-in 1,000 options - July 23, 2014