Bassem BouHabib
About Bassem BouHabib
Bassem BouHabib is Vice President of International Sales at IRIDEX, age 49 as of April 1, 2025, with tenure at the company since 2012 and in his current role since August 2019. He completed Harvard Business School’s AMP 206 in 2024, holds an Executive MBA (ESCP Paris/École Supérieure des Affaires Beirut), and an MS in Electrical Engineering with a minor in Biomedical Engineering (University of Balamand). Company performance context during 2022–2024: revenues declined from $56.97M (FY22) to $48.67M (FY24), EBITDA was negative across the period*, and net loss was $(8.91)M in FY24*; IRIDEX TSR value of a $100 investment fell to $27.33 in 2024 from $45.99 in 2023. * * *
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| IRIDEX | Vice President of International Sales | Aug 2019–present | Leads global commercial expansion and operational excellence initiatives |
| IRIDEX | Area Sales Manager; International Sales Manager; Director of Sales | 2012–2019 | Progressive leadership roles driving international sales growth |
| Topcon Corporation (Japan) | Regional Manager, Middle East & Africa; Eyecare Global Marketing Group member | Pre-2012 | Led sales, service, business development across MEA; global marketing initiatives |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Solmed (Lebanon/Middle East) | Founder; Board Member | Founded; ongoing | Distribution of innovative medical devices in MENA; industry network and market access |
Fixed Compensation
| Metric | FY 2023 | FY 2024 | FY 2025 (effective Apr 2025) |
|---|---|---|---|
| Base Salary ($) | — | $237,130 (pro-rated annual $238,870) | $246,036 (2.92% increase) |
| Target Bonus (%) | — | 45% of base | 45% of base |
| Target Bonus ($) | — | $107,492 | — |
| Actual Bonus Paid ($) | — | $99,032 (Q1 $22,525; Q2 $21,060; Q3 $34,217; Q4 $21,230; Q4 paid Apr 2025) | — |
Performance Compensation
2024 Short-Term Incentive (STI) Plan — Structure and Outcomes
| Metric | Weighting (%) | Target | Actual | Payout (% of Target) | Vesting/Payment Timing |
|---|---|---|---|---|---|
| Sales Goals | 40 | Not disclosed | 36.8 (weighted %) | 92 (aggregate) | Quarterly cash bonuses |
| Revenue Goals | 30 | Not disclosed | 27.6 (weighted %) | 92 (aggregate) | Quarterly cash bonuses |
| Operational Goals | 30 | Not disclosed | 27.6 (weighted %) | 92 (aggregate) | Quarterly cash bonuses |
Long-Term Equity Awards (Time-Based RSUs)
| Grant Date | Award Type | Shares (#) | Grant-Date Fair Value ($) | Vesting Schedule | Notes |
|---|---|---|---|---|---|
| Aug 14, 2024 | RSU | 40,000 | $75,600 | Time-based; generally over 3 years per plan | Market value at FY24 year-end $66,800 (at $1.67/share) |
| Oct 27, 2022 | RSU | 6,161 (unvested at FY24 YE) | — | Time-based | Market value $10,289 at FY24 YE |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total Beneficial Ownership | 213,466 shares (1.3% of outstanding as of Apr 1, 2025) |
| Ownership Breakdown | 89,987 shares held directly; 123,479 options exercisable within 60 days |
| Unvested RSUs | 46,161 total (6,161 from 10/27/22; 40,000 from 8/14/24) |
| Options — Exercisable | 13,000 (10/22/19, $2.25); 38,000 (9/3/20, $2.13); 27,470 (8/5/21, $6.58); 25,011 (10/27/22, $2.28); 19,998 (9/19/23, $2.13) |
| Options — Unexercisable | 12,509 (10/27/22, $2.28); 40,002 (9/19/23, $2.13) |
| Hedging/Pledging | Company policy prohibits hedging and pledging of IRIDEX securities |
| Ownership Guidelines | Not disclosed |
Employment Terms
- Role and Tenure: VP International Sales since August 2019; with IRIDEX since 2012.
- Change-in-Control Treatment (plan-level): If awards are not assumed/substituted upon change in control, options/SARs fully vest and become exercisable; restrictions on restricted stock lapse; RSUs/performance awards deemed achieved at target and vest.
- Individual severance/change-in-control agreement: Not disclosed for BouHabib; such agreements identified for CEO and CFO only.
Performance & Company Metrics Context
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($) | 56.97M | 51.87M | 48.67M |
| EBITDA ($) | (7.22M)* | (9.18M)* | (7.99M)* |
| Net Income ($) | (7.55M)* | (9.57M)* | (8.91M)* |
| TSR — $100 initial value | 32.90 (2022) | 45.99 (2023) | 27.33 (2024) |
Education & Qualifications
- AMP 206, Harvard Business School (2024); Executive MBA (ESCP Paris/École Supérieure des Affaires Beirut); MS Electrical Engineering (minor in Biomedical Engineering), University of Balamand (Lebanon).
- Nearly three decades in medical devices; expertise in international sales/marketing, strategic market development, and commercial operations.
Compensation Structure Notes
- Base salary increase approved March 2025 effective April 2025 to $246,036; FY2025 target bonus opportunity remains 45% of base for BouHabib.
- 2024 STI plan redesigned to quarterly bonuses focused on sales, revenue, operational goals; BouHabib achieved 92% of target and received $99,032.
- Equity awards vest primarily over three years to encourage long-term alignment and retention.
Risk Indicators & Governance Policies
- Hedging and pledging of company stock prohibited for all employees and directors, reducing misalignment risks.
- Equity plan allows full vesting if awards are not assumed in a change-in-control, which can create accelerated vesting pressure but aligns employees to transaction completion.
Investment Implications
- Alignment: BouHabib’s 1.3% beneficial stake plus meaningful unvested RSUs and options creates alignment, with prohibited hedging/pledging mitigating misalignment risks.
- Incentives vs. performance: STI metrics tied to sales/revenue/operations produced a 92% payout, indicating pay-for-performance mechanics; however, company-level revenue and EBITDA trends were negative over 2022–2024, tempering the broader performance backdrop*. * * *
- Retention risk: Three-year time-based RSU vesting (40,000 granted in 2024) and unexercisable options (total 52,511) suggest continued retention hooks; potential selling pressure may coincide with vesting milestones.
- Change-in-control: Plan-level acceleration if awards are not assumed/substituted could lead to near-term vesting realizations in a transaction; absence of individual CIC severance for BouHabib (unlike CEO/CFO) reduces cash severance exposure while preserving equity alignment.