Form 4: Palladyne AI Corp. CEO Benjamin Wolff Reports Share Transaction

Benjamin Wolff, CEO of Palladyne AI Corp., reports a transaction involving the disposition of shares to cover tax obligations related to vesting restricted stock units.

Summary

• On June 11, 2024, Benjamin G. Wolff, the President and CEO of Palladyne AI Corp., disposed of 7,917 shares of common stock to cover tax withholding obligations arising from the vesting of restricted stock units (RSUs).
• The disposition was an exempt transaction under Rule 16b-3(e).
• Following the transaction, Wolff directly owns 1,293,203 shares, which includes shares represented by RSUs, of which 32,510 settled on June 11, 2024 and were then reduced by the 7,917 shares withheld for taxes.
• Wolff also indirectly owns 383,119 shares through Mare's Leg Capital, LLC (MLC), an entity wholly owned by Wolff and his spouse, and 904 shares are held by his spouse.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a standard transaction. It doesn't inherently convey positive or negative sentiment.

Industry Context

This is a standard SEC Form 4 filing, which is common for corporate insiders reporting transactions in their company's stock. It is a routine part of corporate governance and transparency.

Stakeholder Impact

• The transaction has a minimal impact on stakeholders as it is a routine sale of shares to cover tax obligations.

Key Dates