Form 4: Palladyne AI Corp. Executive Kristi Martindale Sells Shares to Cover Tax Obligations

Kristi Martindale, Chief Commercial Officer of Palladyne AI Corp., sold shares of common stock to cover income tax liabilities related to the vesting of restricted stock units.

Summary

• Kristi Martindale, the Chief Commercial Officer of Palladyne AI Corp., reported a transaction involving the sale of 6,772 shares of common stock on May 20, 2025.
• The shares were sold at a weighted-average price of $7.2426, with individual prices ranging from $6.75 to $7.31.
• The sale was conducted to cover income tax liabilities associated with the vesting of restricted stock units.
• Following the transaction, Martindale directly owns 318,307 shares of Palladyne AI Corp.
• This includes shares represented by RSUs, of which 14,991 settled on May 20 2025 and were then reduced by the 6,772 shares sold for taxes.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sale of shares to cover taxes) and does not contain any information that would significantly impact investor sentiment positively or negatively.

Industry Context

Sales of shares by company executives are a normal part of corporate governance. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder perception, but is unlikely to be significant given the reason for the sale.

Key Dates

Keywords

Palladyne AI Corp., Kristi Martindale, Form 4, Share Sale, Restricted Stock Units, Tax Liabilities, PDYN, Chief Commercial Officer