Form 4: Palladyne AI Corp. CFO Trevor Thatcher Reports Share Disposition for Tax Obligations
SEC Form 4 Filing
Trevor Thatcher, CFO of Palladyne AI Corp., reports the disposition of 309 shares of common stock to cover tax withholding obligations related to vesting restricted stock units.
Summary
- On May 20, 2024, Trevor Thatcher, the CFO of Palladyne AI Corp., disposed of 309 shares of common stock.
- The disposition was an exempt transaction under Rule 16b-3(e) to satisfy tax withholding obligations arising from the vesting of restricted stock units (RSUs).
- The shares were remitted to the issuer at a price of $1.96 per share.
- Following the transaction, Thatcher beneficially owns 113,147 shares, including shares represented by RSUs.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing related to insider transactions. It doesn't indicate any significant positive or negative sentiment, but rather reflects standard corporate governance procedures.
Industry Context
Form 4 filings are standard practice for corporate insiders to report transactions in their company's stock, ensuring transparency and compliance with SEC regulations.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a small disposition of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 05/20/2024 | Date of the transaction (disposition of shares) |
| 05/21/2024 | Date of signature on the Form 4 filing |
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