Raymond (NSE:RYMD) E. Cabillot, a director and significant shareholder of Pro Dex Inc (NASDAQ:PDEX), has recently sold a substantial amount of the company's stock. According to a filing with the Securities and Exchange Commission, Cabillot sold a total of 9,202 shares over several transactions on January 21 and January 22, 2025. The shares were sold at prices ranging from $42.02 to $46.06 per share, resulting in total proceeds of approximately $409,925. The timing of these sales follows an impressive 115% surge in PDEX's stock price over the past six months, according to InvestingPro data.
The transactions were executed through Farnam Street Partners L.P., a firm in which Cabillot is involved. Following these sales, Cabillot's indirect ownership through Farnam Street Partners stands at 335,547 shares.
The sales were conducted under a pre-established 10b5-1 trading plan, which allows insiders to set up a schedule for selling stocks and is often used to avoid potential accusations of insider trading.
In other recent news, Pro-Dex , Inc. has seen significant developments. The company conducted its 2024 Annual Meeting of Shareholders, where seven board members were elected and Moss Adams, LLP was ratified as the independent accounting firm for the fiscal year ending June 30, 2025. The elected board members include Raymond E. Cabillot, Angelita R. Domingo, William J. Farrell III, David C. Hovda, Katrina M.K. Philp, Nicholas J. Swenson, and Richard L. Van Kirk.
In addition to these developments, Pro-Dex shareholders approved the compensation of the company's Named Executive Officers, following a non-binding advisory vote. Recent filings with the SEC also reveal that the company's Compensation Committee approved substantial bonuses for Chief Executive Officer Richard L. Van Kirk and Chief Financial Officer Alisha K. Charlton, in recognition of the company's performance during the first quarter of the fiscal year 2025.
These bonuses, amounting to $70,000 for CEO Van Kirk and $50,000 for CFO Charlton, underline the company's strong fiscal performance and the effective leadership of its executives. The payments are scheduled to be made in the upcoming bi-weekly pay period. These are some of the notable recent developments at Pro-Dex, Inc.
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