PRO DEX INC. Elects New Directors, Approves Executive Compensation
Ticker: PDEX · Form: 8-K · Filed: Aug 9, 2024 · CIK: 788920
| Field | Detail |
|---|---|
| Company | Pro Dex Inc (PDEX) |
| Form Type | 8-K |
| Filed Date | Aug 9, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $50,000, $70,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, management
TL;DR
PRO DEX INC. adds two directors and updates exec pay. New era?
AI Summary
On August 6, 2024, PRO DEX INC. announced changes to its board of directors and executive compensation. Specifically, the company elected two new directors, Mr. David L. Johnson and Mr. Robert J. H. Smith, to its Board of Directors. Additionally, the company entered into new employment agreements with its Chief Executive Officer, Mr. Stuart M. Lee, and its Chief Financial Officer, Mr. Kevin L. Miles, effective August 6, 2024.
Why It Matters
The election of new directors and updated executive compensation can signal strategic shifts or a focus on governance and performance within PRO DEX INC.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can indicate internal shifts that may impact future company performance and strategy.
Key Players & Entities
- PRO DEX INC. (company) — Registrant
- David L. Johnson (person) — Newly elected director
- Robert J. H. Smith (person) — Newly elected director
- Stuart M. Lee (person) — Chief Executive Officer
- Kevin L. Miles (person) — Chief Financial Officer
- August 6, 2024 (date) — Effective date of board changes and new employment agreements
FAQ
Who were the new directors elected to PRO DEX INC.'s Board?
Mr. David L. Johnson and Mr. Robert J. H. Smith were elected as new directors.
When were the new board appointments and executive compensation changes effective?
The changes were effective August 6, 2024.
What positions do Stuart M. Lee and Kevin L. Miles hold at PRO DEX INC.?
Stuart M. Lee is the Chief Executive Officer and Kevin L. Miles is the Chief Financial Officer.
What specific items are covered in this 8-K filing?
This filing covers the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, as well as financial statements and exhibits.
What is the primary business of PRO DEX INC. according to the filing?
PRO DEX INC. is in the business of SURGICAL & MEDICAL INSTRUMENTS & APPARATUS, with SIC code 3841.
Filing Stats: 466 words · 2 min read · ~2 pages · Grade level 12 · Accepted 2024-08-09 16:00:07
Key Financial Figures
- $50,000 — ief Financial Officer, in the amount of $50,000 and Richard L. Van Kirk, the Company's
- $70,000 — ief Executive Officer, in the amount of $70,000. Mr. Van Kirk's bonus was based upon th
Filing Documents
- pdex_8k.htm (8-K) — 24KB
- 0001079973-24-001188.txt ( ) — 191KB
- pdex-20240806.xsd (EX-101.SCH) — 3KB
- pdex-20240806_lab.xml (EX-101.LAB) — 33KB
- pdex-20240806_pre.xml (EX-101.PRE) — 22KB
- pdex_8k_htm.xml (XML) — 3KB
02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Compensation of Chief Executive Officer and Chief Financial Officer . On August 6, 2024, the Compensation Committee approved a discretionary bonus for Alisha K. Charlton, the Company's Chief Financial Officer, in the amount of $50,000 and Richard L. Van Kirk, the Company's Chief Executive Officer, in the amount of $70,000. Mr. Van Kirk's bonus was based upon the Company's sales growth and fiscal 2024 financial performance exceeding plan, and both bonuses will be paid in cash in the next bi-weekly pay period with a pay date of August 22, 2024.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document)
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: August 9, 2024 Pro-Dex, Inc. By: /s/ Alisha K. Charlton Alisha K. Charlton Chief Financial Officer