Form 4: Palladyne AI Corp. Executive Denis Garagic Reports Share Disposal for Tax Obligations

Denis Garagic, Chief Technology Officer of Palladyne AI Corp., disposed of 969 shares to cover tax obligations related to vesting restricted stock units.

Summary

• On August 20, 2024, Denis Garagic, the Chief Technology Officer of Palladyne AI Corp., disposed of 969 shares of common stock to satisfy tax withholding obligations.
• The shares were remitted to the issuer, Palladyne AI Corp., as an exempt disposition under Rule 16b-3(e).
• The transaction occurred at a price of $1.53 per share.
• Following the transaction, Garagic beneficially owns 552,774 shares, which includes shares represented by restricted stock units (RSUs).
• 3,351 RSUs settled on August 20, 2024, and were subsequently reduced by the 969 shares withheld for taxes.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to executive compensation and share transactions, with no inherent positive or negative sentiment.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track executive compensation and ownership changes.

Stakeholder Impact

• The transaction has a minimal impact on stakeholders as it is a standard procedure for covering tax obligations related to executive compensation.

Key Dates