PRO-DEX, INC. (NASDAQ:PDEX) Files An 8-K Other Events

PRO-DEX, INC. (NASDAQ:PDEX) Files An 8-K Other Events
ITEM 8.01

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Other Events

On March 14, 2019, the Board of Directors of Pro-Dex, Inc. approved the adoption of a prearranged share repurchase plan intended to qualify for the safe harbor under Rule10b5-1 under the Securities Exchange Act of 1934, as amended (“10b5-1 Plan”). The 10b5-1 Plan became effective on March 19, 2019 and will terminate on March 19, 2020, unless terminated sooner in accordance with its terms. The 10b5-1 Plan was established in accordance with, and as a part of, the Company’s previously disclosed share repurchase program. Repurchases under the Company’s 10b5-1 Plan will be administered through an independent broker.

About PRO-DEX, INC. (NASDAQ:PDEX)

Pro-Dex, Inc. (Pro-Dex) designs and produces surgical and dental instruments and motion control products used in the medical, factory automation and scientific research industries. The Company operates through four segments: Pro-Dex, OMS, Fineline and Engineering Services Division (ESD). The Pro-Dex segment provides primarily medical and dental instruments using shared production and assembly machines and workforce. The OMS segment is engaged in providing multi-axis motion control applications. The Fineline segment manufactures plastic injection molds for various industries. The ESD segment provides permanent placement and contract services in the fields of engineering, manufacturing and quality to diverse businesses. In addition to Pro-Dex, the names Micro Motors and Oregon Micro Systems are used for marketing purposes as brand names. It provides engineering consulting services, as well as quality and regulatory consulting services, to a range of industries through EDS.

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