4/A: Palladyne AI Corp. Director Dennis M. Weibling Corrects Stock Ownership in Amended SEC Filing

Dennis M. Weibling, a director at Palladyne AI Corp., filed an amended SEC Form 4/A to correct the reported amount of directly held common stock following a purchase of 55,000 shares.

Summary

• Dennis M. Weibling, a director of Palladyne AI Corp., filed an amended Form 4/A with the SEC on May 20, 2024.
• The amendment corrects the original Form 4 filed on May 17, 2024, regarding the amount of common stock directly held.
• On May 15, 2024, Weibling acquired 55,000 shares of common stock at a weighted-average price of $1.3563 per share, with prices ranging from $1.34 to $1.38.
• Following the transaction, Weibling beneficially owns 55,000 shares indirectly through On Eagles Wings Investments, LLC, 174,831 shares directly, and 376,780 shares indirectly through Weibling Living Trust.
• The reported number of shares has been adjusted to reflect the impact of the issuer's 1-for-6 reverse stock split completed on July 5, 2023.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing correcting a previous submission. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure related to insider trading activity, which is a common occurrence in publicly traded companies. It provides transparency into the transactions of company insiders and their holdings.

Stakeholder Impact

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

Key Dates