Company: PDEX
Filing Date: 2025-10-07
Form Type: DEF 14A
Source: 0001079973-25-001567
Chunk: 34

Company: PRO DEX INC
Filing Date: 2025-10-07
Form: DEF 14A
Chunk 34
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 other companies whose boards they sit
on, such as Air T, Inc. (described below).

Certain Relationships and Related Transactions

We have invested in
marketable equity securities at June 30, 2025 in the amount of $1.0 million in the common stock of Air T, Inc. (Nasdaq: AIRT). Two of
our Board members, Nick and Ray, are also board members of Air T, Inc. and both either individually or through affiliates own an equity
interest in Air T, Inc. Nick also serves as the Chief Executive Officer and Chairman of Air T, Inc. Another of our Board members, Katrina,
is employed by Air T, Inc. as its Chief of Staff. The shares have been purchased through 10b5-1 Plans, which in accordance with our internal
policies regarding the approval of related party transactions, was approved by our then three Board members that are not affiliated with
Air T, Inc.

We own 2,126,673 shares
of Monogram Technologies Inc., (Nasdaq: MGRM), formerly Monogram Orthopaedics Inc. (“Monogram”), common stock, which we purchased
through the exercise of warrants. As of June 30, 2025, our investment in Monogram had an estimated fair value of $5.7 million. Rick, our
Chief Executive Officer, has been a member of Monogram’s board of directors since 2017.

We have entered into indemnification
agreements with each of our directors and executive officers. The indemnification agreements and our certificate of incorporation
and bylaws require us to indemnify our directors and officers to the fullest extent permitted by Colorado law.

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Director Independence

Our corporate governance guidelines
provide that a majority of the Board and all members of the Audit, Compensation, and Nominating Committees of the Board will be independent. On
an annual basis, each director and executive officer is obligated to complete a Director and Officer Questionnaire that requires disclosure
of any transactions with us in which a director or executive officer, or any member of his or her immediate family, have a direct or indirect
material interest. Following completion of these questionnaires, the Board, with the assistance of the Nominating Committee, makes an
annual determination as to the independence of each director using the current standards for “independence” established by
the SEC and Nasdaq, additional criteria set forth in our corporate governance guidelines, and consideration of any other material relationship