{"url_path":"/sec/irix/8-k/2026-03-13/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry into a Material Definitive Agreement.","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-03-13","source_url":"https://www.sec.gov/Archives/edgar/data/1006045/0001193125-26-106190-index.html","accession_number":"0001193125-26-106190","cik":"0001006045","ticker":"IRIX","issuer_name":"IRIDEX CORP","edgar_url":"https://www.sec.gov/Archives/edgar/data/1006045/0001193125-26-106190-index.html","primary_entity_key":"0001006045","primary_entity_name":"IRIDEX CORP"},"word_count":333,"has_tables":true,"body_markdown":"Item 1.01. Entry into a Material Definitive Agreement.\n\n \n\nOn March 9, 2026, IRIDEX Corporation (the “Company”) and SFIII Hellyer, LLC and SFIII FOS Hellyer Holding, LLC (the “Landlord”) entered into a triple net lease (the “Lease”) pursuant to which the Company will lease office space located at 5215 Hellyer Avenue in San Jose, California (the “Leased Space”) as the Company’s new corporate headquarters.\n\n \n\nThe Leased Space consists of approximately 30,784 square feet. The Lease term is anticipated to commence on July 1, 2026 or such earlier date as the Company begins occupancy of the Leased Space for its business operations. The term of the Lease is 90 months from the commencement date. The Company has the right to extend the term of the Lease for an additional 60 months at the greater of (a) the Rent (as defined in the Lease) payable prior the commencement of the Option Term (as defined in the Lease) and (b) the then-prevailing Market Rent (as defined in the Lease). The Lease provides that minimum rent will abate during the six-month period following the commencement date. The annual minimum rent, to be paid in equal monthly installments, will be approximately $646,464 for the full initial lease year and increase to approximately $665,857 for the second full lease year. Thereafter, minimum rent will increase by approximately 3.0% per annum over the rest of the initial Lease term. The Company is also responsible for paying its share of operating expenses, taxes, and utilities. The Lease includes various covenants, indemnities, remedies, termination rights, sublease and transfer rights and other provisions customary for lease transactions of this nature.\n\n \n\nThe foregoing summary of the Lease is only a summary of the material terms of the Lease, does not purport to be a complete description of the rights and obligations of the parties thereunder, and is qualified in its entirety by reference to the full text of the Lease, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference."}