Iridex corp director William Moore acquires $19,372 in stock

Published 16/06/2025, 18:52
Iridex corp director William Moore acquires $19,372 in stock

William M. Moore, a director at Iridex Corp (NASDAQ:IRIX), has recently acquired 20,000 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The medical technology company, currently valued at approximately $16 million, has seen its stock decline over 55% in the past year. According to InvestingPro analysis, the stock appears undervalued despite facing profitability challenges. The shares were purchased on June 13, 2025, at a weighted average price of $0.9686 per share, with transaction prices ranging from $0.9519 to $0.9798. Following this transaction, Moore now directly owns 188,650 shares. Additionally, 69,300 shares are indirectly owned by his spouse, and 30,026 shares are held in trusts under agreements dated in 2016. The purchase comes as the stock trades near its 52-week low of $0.78, with InvestingPro data showing revenue of $48.8 million in the last twelve months. Discover more insights about IRIX and track insider trading patterns with InvestingPro’s comprehensive research reports, available for 1,400+ US stocks.

In other recent news, IRIDEX Corporation announced several significant developments. The company held its 2025 Annual Meeting of Stockholders, where stockholders approved amendments to the 2008 Equity Incentive Plan and the company’s Certificate of Incorporation. These changes include an increase in authorized shares to 63,500,000 and the reclassification of Series B Preferred Stock, which aims to address Nasdaq’s equity compliance issues. IRIDEX also amended its agreement with Novel Inspiration International, restricting asset disposal without unanimous board consent, a move reflecting a cautious approach to asset management. Additionally, the company is dealing with a Nasdaq delisting notice due to an equity shortfall, with plans to submit a compliance plan by the end of June 2025. In governance news, the resignation of board members Kenneth E. Ludlum and Robert E. Grove was announced, aligning with a Rights Agreement with Novel Inspiration International. This agreement maintains the board size at five directors, reflecting strategic adjustments following the Novel transaction. These developments underscore IRIDEX’s ongoing efforts to manage its corporate structure and meet compliance requirements.

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