Form 4: Palladyne AI Corp. Chief Legal Officer Reports Tax Withholding Share Remittance
SEC Form 4 Filing
Stephen Sonne, Chief Legal Officer of Palladyne AI Corp., reports a transaction involving the remittance of shares to the issuer for tax withholding obligations related to vesting restricted stock units.
Summary
- On March 29, 2024, Stephen Sonne, the Chief Legal Officer of Palladyne AI Corp., engaged in a transaction where 2,688 shares of common stock were remitted to the issuer to cover tax withholding obligations arising from the vesting of restricted stock units (RSUs).
- The shares were disposed of at a price of $1.81 per share.
- Following the transaction, Sonne beneficially owns 140,132 shares, which includes shares represented by RSUs.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to tax obligations, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the remittance of shares for tax purposes, which is a normal part of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 03/29/2024 | Date of the transaction where shares were remitted to the issuer for tax withholding. |
| 03/29/2024 | 9,438 RSUs settled. |
| 04/02/2024 | Date of signature on the Form 4 filing. |
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