8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)

November 29, 2018

IRIDEX CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	0-27598	77-0210467
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1212 Terra Bella Avenue

Mountain View, California 94043

(Address of principal executive offices, including zip code)

(650) 940-4700

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.  

(b) Departure of Chief Financial Officer

On November 29, 2018 Atabak Mokari announced that he is resigning as Chief Financial Officer and Vice President of Corporate Development of Iridex Corporation (the “Company”), effective as of December 18, 2018. Mr. Mokari is not resigning due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.  

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits  

Exhibit No.	Description
99.1	Press Release dated December 4, 2018.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	IRIDEX CORPORATION
By:	/s/ William M. Moore
	William M. Moore President and Chief Executive Officer

Date: December 4, 2018

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EX-99.1

Exhibit 99.1

  

IRIDEX Announces Departure of Chief Financial Officer and Reiterates Full Year 2018 Guidance

Mountain View, Calif., December 4, 2018— IRIDEX Corporation (Nasdaq: IRIX) today announced Chief Financial Officer Atabak Mokari will leave the Company for a senior finance executive role at another company. Mokari has agreed to assist in the orderly transition of his CFO responsibilities and will leave the Company effective December 18, 2018. IRIDEX plans to search for a replacement.

“We would like to thank Atabak for his service throughout the significant transformation of our business into the glaucoma treatment market,” said William M. Moore, Chairman and Chief Executive Officer. “With a high level of professionalism and dedication, he led us through multiple capital raises and assisted in the transition of our organization. We wish him well in his next endeavor.  

“As we identify a replacement, Romeo Dizon, Vice President of Finance will be assuming responsibility for financial controls and reporting. During his lengthy tenure with the Company, he has previously stepped successfully into this role before and we are very confident in his abilities,” Moore concluded.

"The motivated and talented team at IRIDEX has been a pleasure to work with," said Atabak Mokari, Chief Financial Officer. "I am proud of our accomplishments over the last few years. The opportunity in glaucoma continues to grow and I am confident the Company is well positioned to further penetrate and make inroads throughout the glaucoma treatment continuum."

Guidance for Full Year 2018

IRIDEX reiterates its guidance range for G6 systems, probes and total revenue. The Company expects G6 system shipments of 430 to 450, G6 probe shipments of 44,000 to 46,000 and total revenue of $41 million to $42 million.  

About IRIDEX

IRIDEX Corporation is a worldwide leader in developing, manufacturing, and marketing innovative and versatile laser-based medical systems, delivery devices and consumable instrumentation for the ophthalmology market. The Company’s proprietary MicroPulse® technology delivers a differentiated treatment that provides safe, effective, and proven treatment for targeted sight-threatening eye conditions. IRIDEX’s current product line is used for the treatment of glaucoma, diabetic macular edema (DME) and other retinal diseases. IRIDEX’s products are sold in the United States through a direct sales force and internationally primarily through a network of independent distributors into more than 100 countries. IRIDEX is headquartered in Mountain View, CA.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, including those statements concerning personnel searches, guidance and financial performance. These statements are not guarantees of future performance and actual results may differ materially from those described in these forward-looking statements as a result of a number of factors. Please see a detailed description of these and other risks contained in our Annual Report on Form 10-K for the fiscal year ended December 30, 2017, and Quarterly Reports on Form 10-Q for subsequent fiscal quarters, each of which was filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date and will not be updated.

Investor Relations Contact:

Lynn Pieper Lewis or Leigh Salvo

(415) 937-5404

investors@iridex.com

Media Contact:

Jamie Hall

Pascale Communications, LLC.

724-417-0167

jamie@pascalecommunications.com