On June 7, 2013, director William L. Healey resigned from his position as a member of the Board of Directors of Pro-Dex Inc. Mr. Healey's resignation also serves to remove him as a member of the Nominating and Governance Committee of the Board. Mr. Healey's resignation is not due to any disagreements on any matter relating to the Company's operations, policies or practices. On June 10, 2013, the Board of Directors appointed Harold A. Hurwitz as a member of the Board of Directors to fill the vacancy created by Mr. Healey's resignation.

Mr. Hurwitz has served as the Company's Chief Financial Officer since October 2010 and as Chief Executive Officer and President since February 2013. In addition, Mr. Hurwitz has served as a member of the Investment Committee since the formation of the committee by the Board of Directors in April 2013. Mr. Hurwitz will continue to serve in all such capacities concurrent with his service on the Board of Directors.