4/A: Palladyne AI Corp. Director Brian D. Finn Amends Form 4 to Clarify Indirect Stock Ownership

Brian D. Finn, a director of Palladyne AI Corp., amended his Form 4 filing to correct an error in reporting stock purchases, clarifying that the transactions were made indirectly through several LLCs.

Summary

• Brian D. Finn, a director of Palladyne AI Corp. [PDYN], filed an amended Form 4 with the SEC on February 26, 2025.
• The amendment corrects an error in the original filing from March 30, 2023, which incorrectly attributed stock purchases to Mr. Finn directly.
• The corrected filing clarifies that the purchases were made indirectly through MI-CM LLC, Marstar Investments LLC, and MI-MJ LLC.
• On March 28, 2023, MI-CM LLC purchased 50,000 shares of common stock at a weighted-average price of $0.4557, bringing its total holdings to 150,000 shares.
• On March 29, 2023, MI-CM LLC purchased an additional 57,794 shares at a weighted-average price of $0.4488, increasing its holdings to 207,794 shares.
• Mr. Finn is the administrator of MI-CM LLC, Marstar Investments LLC, and MI-MJ LLC and has sole voting and dispositive power over the shares held by these entities.
• Mr. Finn disclaims beneficial ownership of these shares except to the extent of any pecuniary interest therein.
• Marstar Investments LLC holds 2,161,418 shares, and MI-MJ LLC holds 515,153 shares.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions and clarifies ownership.

Management Comments

• Mr. Finn disclaims beneficial ownership of these shares except to the extent of any pecuniary interest therein.

Industry Context

This filing is a routine disclosure related to insider trading activities, providing transparency to investors regarding the transactions of company directors.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the stock transactions of a company director.

Key Dates