v3.26.1
Subsequent Events
6 Months Ended
Jun. 30, 2026
Subsequent Events [Abstract]  
Subsequent Events

Note 9 – Subsequent Event

On July 13, 2026, the Company's Board of Directors (“Board”) appointed Aziz Mottiwala as President and Chief Executive Officer, effective as of his start date, July 20, 2026, succeeding Ron Kurtz, M.D., who had served in these roles since 2016. Effective upon Mr. Mottiwala's appointment, Dr. Kurtz transitioned to the role of Chief Medical Officer, and resigned from the Board; the Board appointed Mr. Mottiwala to fill the resulting vacancy as a Class II director.

In connection with his appointment, the Company entered into an employment agreement with Mr. Mottiwala providing for an annual base salary of $750,000, a target annual bonus of up to 90% of base salary (with a guaranteed 2026 bonus of $337,500), and new-hire equity awards with an aggregate grant-date value of $14.0 million, consisting of stock options valued at $2.0 million and restricted stock units valued at $12.0 million, issued under the Company's newly adopted 2026 Inducement Equity Incentive Plan. Mr. Mottiwala also entered into a Change in Control Severance Agreement providing for cash severance and equity acceleration upon a qualifying termination, with enhanced benefits if the termination occurs in connection with a change in control.

In connection with his transition to Chief Medical Officer, the Company entered into a Transition Agreement with Dr. Kurtz providing for continuation of his $740,000 annual base salary, a target bonus of up to 100% of base salary, retention bonus payments totaling up to $1,480,000 through mid-2028, and a future restricted stock unit award covering 500,000 shares, together with an amended Change in Control and Severance Agreement.

On July 1, 2026, the Company received the $60.0 million upfront cash payment from Alcon pursuant to the RxSight-Alcon Collaboration Agreement entered into on June 30, 2026.

As these events occurred subsequent to June 30, 2026, no related compensation charges have been reflected in the Company's condensed consolidated financial statements for the period then ended. The Company has evaluated subsequent events through the date these condensed consolidated financial statements were issued.