Raymond (NS:) E. Cabillot, director and significant shareholder of Pro Dex Inc. (NASDAQ:PDEX), sold stakes in the company as disclosed in a recent filing with the SEC. The transactions performed on January 10 and 13 included the sale of a total of 4,824 shares. These sales were made at prices ranging from $46.66 to $47.76 per share, for a total value of $226,407. Time is significant as InvestingPro data shows that the stock has seen a 9.5% decline over the past week, although it maintains an impressive 143% gain over the past six months.
The sale was made pursuant to a Rule 10b5-1 trading plan adopted by Cabillot and Farnam Street Partners, LP, a firm in which Cabillot has an indirect ownership interest. After these transactions, Cabillot holds 356,022 shares in Pro Dex through Farnam Street Partners. According to InvestingProthe company maintains strong financial health with a current ratio of 3.4 and operates with moderate levels of debt. Pro Dex delivered a robust performance with a return on equity of 17% and positive earnings expectations for the coming year. Subscribers can access 12 additional InvestingPro tips for deeper insight into the company’s outlook.
In other recent news, Pro-Dex (NASDAQ:), Inc. is making great strides with noteworthy developments. The company’s shareholders convened their 2024 annual meeting, during which they elected seven members to the board of directors and ratified Moss Adams, LLP as the independent accounting firm for the upcoming fiscal year. The newly elected board members will serve until the 2025 annual meeting or until their successors are elected.
In addition to these key decisions, shareholders approved, on a non-binding advisory basis, the compensation of the company’s named executive officers. This approval follows Pro-Dex’s strong fiscal results, which led the compensation committee to award significant bonuses to top executives. CEO Richard L. Van Kirk received a $70,000 bonus and CFO Alisha K. Charlton received a $50,000 bonus.
These bonuses, disclosed in a recent filing with the SEC, were awarded based on the company’s performance during the first quarter of fiscal year 2025 and other performance indicators. The decision to award the bonus was made recently, and payouts are planned for the upcoming two-week pay period. These recent events underscore Pro-Dex’s financial health and the effective leadership of its executives.
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