The sale reported in this Form 4 was pursuant to the Reporting Person's Rule 10b5-1 Selling Plan effective November 21, 2013.
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 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:
VP of IRIDEX Corporation just cashed-in 1,650 options - Aug. 19, 2014
IRIDEX Corporation director just cashed-in 14,400 options - Aug. 15, 2014