Intel stock spikes after report of possible US government stake
Raymond (NS:RYMD) E. Cabillot, a director and ten percent owner of Pro Dex Inc (NASDAQ:PDEX), recently sold shares of the company as disclosed in a Form 4 filing with the Securities and Exchange Commission. The transactions, executed through Farnam Street Partners LP, involved the sale of 3,026 shares of Pro Dex's common stock over two days. The sale comes as Pro Dex trades near its 52-week high of $59.60, with the stock showing remarkable strength through a 115% gain over the past year. According to InvestingPro analysis, the company appears overvalued at current levels.
On January 14, Cabillot sold 1,147 shares at a weighted average price ranging from $44.52 to $46.74. The following day, January 15, he sold an additional 1,879 shares, with the price per share ranging between $45.00 and $45.50. The total value of these transactions amounted to $136,714. Notably, InvestingPro data reveals that while this insider is selling, management has been actively buying back shares, with the company maintaining strong financial health metrics and a GREAT overall financial score.
These sales were made under a Rule 10b5-1 trading plan adopted by the reporting persons on September 20, 2024, which allows insiders to set up a predetermined plan to sell shares at a future date. Following these transactions, Cabillot holds 352,996 shares indirectly through Farnam Street Partners LP. The stock has recently experienced an 8.85% decline over the past week, though it maintains a strong six-month return of 133%. Unlock 12 additional ProTips and comprehensive insider trading analysis with InvestingPro.
In other recent news, Pro-Dex (NASDAQ:PDEX), Inc. announced significant developments at its 2024 Annual Meeting of Shareholders. The company's shareholders elected seven members to the board of directors and ratified the appointment of 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.
The company also reported executive bonuses following a strong fiscal performance. Pro-Dex's Compensation Committee approved a $70,000 bonus for Chief Executive Officer Richard L. Van Kirk and a $50,000 bonus for Chief Financial Officer Alisha K. Charlton. These bonuses were awarded based on the company's performance during the first quarter of the fiscal year 2025 and other performance metrics.
Additionally, shareholders approved the compensation of the company's Named Executive Officers on a non-binding advisory basis. These recent developments highlight the company's commitment to rewarding strong performance and maintaining robust corporate governance.
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