Form 4: Palladyne AI Corp. Executive Denis Garagic Reports Tax-Related Share Disposition
SEC Form 4 Filing
Denis Garagic, Chief Technology Officer of Palladyne AI Corp., reports the disposition of 973 shares to cover tax obligations related to vesting restricted stock units.
Summary
- Denis Garagic, the Chief Technology Officer of Palladyne AI Corp., filed a Form 4 with the SEC.
- The filing reports a transaction on May 20, 2024, where 973 shares of common stock were disposed of at a price of $1.96 per share.
- This disposition was an exempt transaction under Rule 16b-3(e) to satisfy tax withholding obligations arising from the vesting of restricted stock units (RSUs).
- Following the transaction, Garagic beneficially owns 550,743 shares, including shares represented by RSUs.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to tax obligations, and does not contain information that would significantly impact investor sentiment positively or negatively.
Industry Context
Form 4 filings are standard disclosures required by the SEC to ensure transparency in insider transactions, allowing investors to stay informed about the actions of company executives and their potential impact on the stock.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine tax-related disposition.
Key Dates
| Date | Description |
|---|---|
| 05/20/2024 | Date of the transaction where 973 shares were disposed of to cover tax obligations. |
| 05/20/2024 | 3,352 RSUs settled. |
| 05/21/2024 | Date of signature on the Form 4 filing. |
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