Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-10-13

Iridex (IRIX)

CEO Patrick Mercer was paid $901,900 in fiscal year 2025, ↓ down 18.5% from fiscal year 2024 (SEC filing 0002077096-26-000092 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$901,900 ↓
Patrick Mercer total, FY2025
—
CEO pay percentile vs peers
—
CEO-to-median pay ratio
95.37%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Patrick Mercer (President, Chief Executive Officer and Chief Operating Officer), FY2025 total compensation $901,900 (base salary $384,647) [exec_comp, SEC accession 0002077096-26-000092, filed 2026-04-24]

Answered within 24 hours, every figure cited to its SEC filing. If our database cannot answer your question, you are refunded automatically.

IRIX's next annual pay disclosure, estimated April 20, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Patrick Mercer$384,647—$31,368$68,969$289,265$0$127,651$901,900
President, Chief Executive Officer and Chief Operating Officer
Bassem BouHabib248,086013,89335,481109,1990144,175550,834
Senior Vice President of International Sales and Business Development
Romeo Dizon276,923—21,15093,670131,10103,370526,214
Chief Financial Officer
Fuad Ahmad133,200000000133,200
Former Interim Chief Financial Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Patrick Mercer$901,900$1,106,642$518,073↓ −204,742
Bassem BouHabib550,834529,307—↑ +21,527
Romeo Dizon526,214———
Fuad Ahmad133,200868,810356,835↓ −735,610

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against IRIX
1 company names IRIX as a compensation peer

Each company listed discloses IRIX in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named IRIX in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Fuad AhmadCFO$133,200
Bassem BouHabibSVP$550,834
Romeo DizonCFO$526,214
Patrick MercerCEO$901,900
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Beverly A. HussIndependent Director$87,360
Kenneth E. LudlumFormer director (through FY2025)$34,125
Robert GroveFormer director (through FY2025)$25,750
Scott ShudaChair of the Board$113,735
William MooreIndependent Director$86,410
Yu-Hao Nick ChenIndependent Director$74,035
02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Romeo DizonChief Financial Officer2026-05-26A5,004$1$5,004CommonForm 4 ↗
Patrick MercerPresident and CEO2026-05-26D19,233119,425CommonForm 4 ↗
Romeo DizonChief Financial Officer2026-06-03A2,40012,808CommonForm 4 ↗
Romeo DizonChief Financial Officer2026-06-05A2,52112,899CommonForm 4 ↗
Romeo DizonChief Financial Officer2026-06-08A2,40012,688CommonForm 4 ↗
Romeo DizonChief Financial Officer2026-06-11A1,67511,910CommonForm 4 ↗
Romeo DizonChief Financial Officer2026-06-12A97511,110CommonForm 4 ↗
Patrick MercerPresident and CEO2026-06-13D3,99014,469CommonForm 4 ↗
Romeo DizonChief Financial Officer2026-06-13D2,69113,014CommonForm 4 ↗
Novel Inspiration International Co., Ltd.Greater-than-10% holder2026-07-07A111,997——CommonForm 4 ↗
Romeo DizonChief Financial Officer2026-07-10A170,00000Derivative, Class A CommonForm 4 ↗
Patrick MercerDirector2026-07-10A100,00000Derivative, Class A CommonForm 4 ↗
Patrick MercerDirector2026-07-10A200,00000Derivative, Class A CommonForm 4 ↗
Patrick MercerDirector2026-07-10A100,00000CommonForm 4 ↗
Romeo DizonChief Financial Officer2026-07-10A30,00000CommonForm 4 ↗
Romeo DizonChief Financial Officer2026-08-24A5,36814,025CommonForm 4 ↗
Romeo DizonChief Financial Officer2026-08-24A1,3001973CommonForm 4 ↗
Romeo DizonChief Financial Officer2026-09-10A5,10013,468CommonForm 4 ↗
Romeo DizonChief Financial Officer2026-09-14A2,35411,530CommonForm 4 ↗
Romeo DizonChief Financial Officer2026-09-16A7,90014,977CommonForm 4 ↗
Patrick MercerDirector2026-10-01D23,917115,116CommonForm 4 ↗
Novel Inspiration International Co., Ltd.Greater-than-10% holder2026-10-02A146,313——CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Romeo DizonRSU22,500—$26,325
Patrick MercerOption38,3412.13—
Romeo DizonOption75,0000.94—
Patrick MercerRSU133,340—156,007
Patrick MercerRSU80,004—93,604
Patrick MercerRSU33,370—39,042
Bassem BouHabibRSU26,668—31,201
Bassem BouHabibRSU11,070—12,951
Patrick MercerOption111,2400.94—
Bassem BouHabibOption20,0042.13—
Bassem BouHabibOption36,9050.94—
Bassem BouHabibOption10,0001.26—
Romeo DizonOption53,0000.89—
05

Incentive-plan design — the Compensation Discussion & Analysis

The compensation philosophy is designed to attract, retain, motivate and reward highly qualified executives who contribute to the success of the Company and its stockholders, providing a comprehensive package competitive with similar companies and incorporating equity-based incentives to align interests.

CEO STI target (% of salary)65%
CEO LTI target (% of salary)—
Independent consultant—
Clawback policytrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-07-1012,222,760593,811358,91695.37%Passed
20252025-04-148,123,4232,048,555791,29679.86%Passed
20242024-06-184,635,9451,352,835343,93473.21%Passed
20232023-04-175,688,229830,659165,16285.1%Passed
20222022-06-155,887,8841,274,107105,40181.02%Passed
20212021-06-166,693,904461,324118,76593.55%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-07-1095.37%a
20252025-04-1479.86%b
20242024-06-1873.21%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Approved under the standard stated in the filing — “Abstentions will have the effect of a vote against this proposal, and broker non-votes will have no effect.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)—
CEO total compensation—
Median employee compensation—
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Scott ShudaIndependent · Board Chair · Compensation · Nominating/Governance (Chair) · Strategy and Budget · Audit$80,875$0$32,860—$0$113,735
Beverly A. HussIndependent · Audit · Compensation (Chair) · Nominating/Governance · Strategy and Budget54,500032,860—087,360
William MooreIndependent · Audit · Compensation · Nominating/Governance · Strategy and Budget · Newly elected44,250042,160—086,410
Yu-Hao Nick ChenIndependent · Audit · Strategy and Budget (Chair) · Compensation · Nominating/Governance · Newly elected31,875042,160—074,035
Kenneth E. LudlumIndependent · Departed during FY34,12500—034,125
Robert GroveIndependent · Departed during FY25,75000—025,750
Patrick MercerEmployee director000—00
09

Board fee structure and ownership guideline

Annual cash retainer$35,000
Annual equity retainer$75,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)15,000 / 10,000 / 9,500
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$271,375
Equity awards (grant-date value)$0
All other compensation$0
Total cost of the board$271,375

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Iridex2025Patrick Mercer$384,647$31,368$68,969$289,265$901,900

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10d

Frequently asked questions

Who was the highest-paid executive at Iridex in fiscal 2025?
As disclosed, Patrick Mercer (President, Chief Executive Officer and Chief Operating Officer) was the highest-paid executive at Iridex in fiscal 2025, with total compensation of $901,900.
How did shareholders vote on Iridex's executive compensation?
As disclosed, 95.37% of shareholders supported Iridex's executive compensation in the latest say-on-pay vote.
How much does Iridex spend in total on board compensation for fiscal 2025?
As disclosed, Iridex reported total board compensation of $271,375 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Patrick MercerDEF 14A2026-04-240002077096-26-000092Section “Summary Compensation Table” · page 21. As printed: 901,900. Filing ↗machine: span 481907–481914
2Section 01, Bassem BouHabibDEF 14A2026-04-240002077096-26-000092Section “Summary Compensation Table” · page 21. As printed: 550,834. Filing ↗machine: span 554311–554318
3Section 01, Romeo DizonDEF 14A2026-04-240002077096-26-000092Section “Summary Compensation Table” · page 21. As printed: 526,214. Filing ↗machine: span 518772–518779
4Section 01, Fuad AhmadDEF 14A2026-04-240002077096-26-000092Section “Summary Compensation Table” · page 21. As printed: 133,200. Filing ↗machine: span 522405–522412
5Section 07, pay ratio10-K2026-04-020001193125-26-140194Section “CEO Pay Ratio”. As printed: —. Filing ↗
6Section 08, Scott ShudaDEF 14A2026-04-240002077096-26-000092Section “Director Compensation”. As printed: 113,735. Filing ↗machine: span 1034315–1034658
7Section 08, Beverly A. HussDEF 14A2026-04-240002077096-26-000092Section “Director Compensation”. As printed: 87,360. Filing ↗machine: span 1014087–1014429
8Section 08, William MooreDEF 14A2026-04-240002077096-26-000092Section “Director Compensation”. As printed: 86,410. Filing ↗machine: span 1040797–1041139
9Section 08, Yu-Hao Nick ChenDEF 14A2026-04-240002077096-26-000092Section “Director Compensation”. As printed: 74,035. Filing ↗machine: span 1007599–1007941
10Section 08, Kenneth E. LudlumDEF 14A2026-04-240002077096-26-000092Section “Director Compensation”. As printed: 34,125. Filing ↗machine: span 1023296–1023638
11Section 08, Robert GroveDEF 14A2026-04-240002077096-26-000092Section “Director Compensation”. As printed: 25,750. Filing ↗machine: span 1016540–1016882
12Section 08, Patrick MercerDEF 14A2026-04-240002077096-26-000092Section “Director Compensation”. As printed: 0. Filing ↗
13Section 02, Romeo Dizon 2026-05-26Form 42026-05-260001193125-26-238277Insider equity transaction reported since the proxy statement. Filing ↗
14Section 02, Patrick Mercer 2026-05-26Form 42026-05-260001193125-26-239768Insider equity transaction reported since the proxy statement. Filing ↗
15Section 02, Romeo Dizon 2026-06-03Form 42026-06-030001193125-26-255089Insider equity transaction reported since the proxy statement. Filing ↗
16Section 02, Romeo Dizon 2026-06-05Form 42026-06-080001193125-26-260846Insider equity transaction reported since the proxy statement. Filing ↗
17Section 02, Romeo Dizon 2026-06-08Form 42026-06-090001193125-26-263083Insider equity transaction reported since the proxy statement. Filing ↗
18Section 02, Romeo Dizon 2026-06-11Form 42026-06-120001193125-26-269140Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, Romeo Dizon 2026-06-12Form 42026-06-150001193125-26-270572Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Patrick Mercer 2026-06-13Form 42026-06-160001193125-26-273096Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Romeo Dizon 2026-06-13Form 42026-06-160001193125-26-273105Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Novel Inspiration International Co., Ltd. 2026-07-07Form 42026-07-080002064835-26-000071Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Romeo Dizon 2026-07-10Form 42026-07-140001193125-26-303280Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Patrick Mercer 2026-07-10Form 42026-07-140001193125-26-303346Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Patrick Mercer 2026-07-10Form 42026-07-140001193125-26-303346Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Patrick Mercer 2026-07-10Form 42026-07-140001193125-26-303346Insider equity transaction reported since the proxy statement. Filing ↗
27Section 02, Romeo Dizon 2026-07-10Form 42026-07-140001193125-26-303280Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Romeo Dizon 2026-08-24Form 42026-08-240001193125-26-362654Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Romeo Dizon 2026-08-24Form 42026-08-240001193125-26-362654Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Romeo Dizon 2026-09-10Form 42026-09-100001193125-26-387539Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Romeo Dizon 2026-09-14Form 42026-09-140001193125-26-390061Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Romeo Dizon 2026-09-16Form 42026-09-160001193125-26-393119Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Patrick Mercer 2026-10-01Form 42026-10-050001193125-26-413952Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Novel Inspiration International Co., Ltd. 2026-10-02Form 42026-10-130002097627-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
35Section 06, 2026 voteForm 8-K2026-07-160001193125-26-305344Item 5.07 · say-on-pay result. As reported: 95.37% (votes for as printed: 12,222,760). Filing ↗
36Section 06, 2025 voteForm 8-K2025-06-130000950170-25-086292Item 5.07 · say-on-pay result. As reported: 79.86% (votes for as printed: 8,123,423). Filing ↗
37Section 06, 2024 voteForm 8-K2024-06-210000950170-24-075755Item 5.07 · say-on-pay result. As reported: 73.21% (votes for as printed: 4,635,945). Filing ↗
38Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
39Section 09b board cost (computed)Computed——Cash 271,375 + equity 0 + all other 0 = 271,375, summed across the director compensation table rows.machine: formula: Σ = 271,375
40Iridex (subject), Section 10b CEO totalDEF 14A2026-04-240002077096-26-000092CEO total compensation as printed in Iridex's own proxy. As printed: 901,900. Filing ↗machine: span 481907–481914

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