PRO-DEX Reports No Leadership Changes or New Officer Pay
Ticker: PDEX · Form: 8-K · Filed: Jan 4, 2024 · CIK: 788920
| Field | Detail |
|---|---|
| Company | Pro Dex Inc (PDEX) |
| Form Type | 8-K |
| Filed Date | Jan 4, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $305,000, $350,000, $140,000, $75,000, $300,000 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: corporate-governance, executive-compensation, leadership-stability
TL;DR
**PRO-DEX (PDEX) reports no executive changes or new pay deals, signaling leadership stability.**
AI Summary
PRO-DEX, INC. (PDEX) reported on December 29, 2023, that there were no departures of directors or officers, no elections of new directors, and no new officer appointments. Additionally, there were no new compensatory arrangements for officers. This filing indicates a period of stability in the company's leadership and executive compensation, which can be reassuring for investors as it suggests no immediate disruptive changes.
Why It Matters
This filing signals stability in PRO-DEX's executive team and compensation structure, which can reduce uncertainty for investors and potentially indicate a consistent strategic direction.
Risk Assessment
Risk Level: low — The filing indicates no significant changes in leadership or compensation, suggesting a stable operational environment with low immediate risk.
Analyst Insight
A smart investor would note the stability in leadership and compensation, suggesting no immediate internal disruptions, but would look to other filings for operational or financial performance updates.
Key Players & Entities
- PRO-DEX, INC. (company) — the registrant filing the 8-K
- PDEX (company) — the trading symbol for PRO-DEX, INC.
- December 29, 2023 (date) — the date of the earliest event reported in the 8-K
FAQ
What was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on December 29, 2023.
Did PRO-DEX, INC. report any departures of directors or certain officers in this filing?
No, PRO-DEX, INC. did not report any departures of directors or certain officers in this filing, as indicated by the lack of specific information under Item 5.02.
Were there any new elections of directors or appointments of certain officers mentioned in this 8-K?
No, the filing does not mention any new elections of directors or appointments of certain officers.
Did PRO-DEX, INC. disclose any new compensatory arrangements for certain officers in this 8-K?
No, the filing does not disclose any new compensatory arrangements of certain officers.
What is the trading symbol and exchange for PRO-DEX, INC.'s Common Stock?
PRO-DEX, INC.'s Common Stock trades under the symbol PDEX on the NASDAQ Capital Market.
Filing Stats: 534 words · 2 min read · ~2 pages · Grade level 13.4 · Accepted 2024-01-04 16:00:11
Key Financial Figures
- $305,000 — er, had an increase in base salary from $305,000 to $350,000 per year effective with the
- $350,000 — ncrease in base salary from $305,000 to $350,000 per year effective with the Company's n
- $140,000 — whereby he may earn a cash bonus up to $140,000 per fiscal year, as well as an addition
- $75,000 — h bonus for Fiscal 2024 in the range of $75,000 to $300,000. SIGNATURES Pursuant to
- $300,000 — Fiscal 2024 in the range of $75,000 to $300,000. SIGNATURES Pursuant to the requirem
Filing Documents
- pdex_8k.htm (8-K) — 24KB
- 0001079973-24-000018.txt ( ) — 190KB
- pdex-20231229.xsd (EX-101.SCH) — 3KB
- pdex-20231229_lab.xml (EX-101.LAB) — 33KB
- pdex-20231229_pre.xml (EX-101.PRE) — 22KB
- pdex_8k_htm.xml (XML) — 3KB
02 Departure of Directors or Principal Officers, Election of Directors,
Item 5.02 Departure of Directors or Principal Officers, Election of Directors, Appointment of Principal Officers; Compensatory Arrangements of Principal Officers Compensation of Chief Executive Officer On December 29, 2023, pursuant to approval of the Compensation Committee of the Board of Directors of Pro-Dex, Inc. ("Pro-Dex" or the "Company"), Richard L. Van Kirk, the Company's Chief Executive Officer, had an increase in base salary from $305,000 to $350,000 per year effective with the Company's next bi-weekly pay period. Other than the increase in base salary, Mr. Van Kirk's employment with the Company continues on an at-will basis on the terms previously disclosed. Bonus Award On December 29, 2023, the Compensation Committee approved a bonus plan for Mr. Van Kirk, commencing this current fiscal year ending June 30, 2024 ("Fiscal 2024") and continuing annually thereafter, based upon annual performance metrics whereby he may earn a cash bonus up to $140,000 per fiscal year, as well as an additional bonus based upon other business targets. Although not yet calculable, we believe that one or more of the performance metrics and/or business targets are likely to be achieved in Fiscal 2024, which we currently anticipate could result in a cash bonus for Fiscal 2024 in the range of $75,000 to $300,000.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: January 4, 2024 Pro-Dex, Inc. By: /s/ Alisha K. Charlton Alisha K. Charlton Chief Financial Officer