Form 4: ProDex Inc. Director and 10% Owner, Raymond E. Cabillot, Sells Shares Under 10b5-1 Plan

Raymond E. Cabillot, a director and 10% owner of ProDex Inc., sold a total of 3,026 shares of common stock on January 14th and 15th, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• Raymond E. Cabillot, a director and 10% owner of ProDex Inc., executed sales of common stock.
• The sales were conducted under a Rule 10b5-1 trading plan adopted on September 20, 2024.
• On January 14, 2025, 1,147 shares were sold at a weighted average price of $45.18.
• On January 15, 2025, 1,879 shares were sold at a weighted average price of $45.18.
• The shares were sold indirectly through Farnam Street Partners, L.P.
• Following these transactions, Farnam Street Partners, L.P. beneficially owns 352,996 shares.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of insider trading under a pre-arranged plan. It doesn't indicate any positive or negative sentiment about the company's performance.

Risks

• Sales by a director and 10% owner could be perceived negatively by the market, potentially impacting the stock price.

Industry Context

Insider sales are a common occurrence, and the use of a 10b5-1 plan indicates a pre-planned strategy to avoid accusations of trading on non-public information. This is a routine disclosure and does not necessarily indicate a change in the company's prospects.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a standard practice for corporate insiders to sell shares without raising concerns about insider trading.
• Similar filings are common across all publicly traded companies, such as those by executives at companies like Medtronic (MDT) or Boston Scientific (BSX), where pre-planned sales are often disclosed.
• The volume of shares sold is relatively small compared to the total outstanding shares of the company, which is typical for these types of transactions.

Stakeholder Impact

• The sales may have a minor impact on shareholder sentiment, but the pre-planned nature of the transactions should mitigate any significant concerns.

Key Dates

Keywords

insider trading, Form 4, 10b5-1 plan, stock sale, beneficial ownership, ProDex Inc., PDEX, Raymond E. Cabillot, Farnam Street Partners