Form 4: Palladyne AI Corp. Chief Legal Officer Reports Tax-Related Share Disposition
SEC Filing
Stephen Sonne, Chief Legal Officer of Palladyne AI Corp., reports the disposition of 794 shares to cover tax obligations related to vesting restricted stock units.
Summary
- Stephen Sonne, the Chief Legal Officer of Palladyne AI Corp., filed a Form 4 with the SEC.
- The filing reports a transaction on August 20, 2024, where 794 shares of common stock were disposed of to the issuer to satisfy tax withholding obligations arising from the vesting of restricted stock units (RSUs).
- The disposition was exempt under Rule 16b-3(e).
- Following the transaction, Sonne beneficially owns 138,541 shares, including shares represented by RSUs.
Sentiment
Score: 5
Explanation: The document reports a routine transaction related to tax obligations, which is neither particularly positive nor negative.
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 standard tax-related disposition.
Key Dates
| Date | Description |
|---|---|
| 08/20/2024 | Date of the share disposition transaction. |
| 08/20/2024 | 2,745 RSUs settled. |
| 08/21/2024 | Date of signature on the Form 4 filing. |
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