Form 4: Palladyne AI Corp. Executive Matthew Vogt Reports Share Transaction

Chief Revenue Officer of Palladyne AI Corp., Matthew Vogt, disposed of 324 shares to cover tax obligations related to vesting restricted stock units.

Summary

• Matthew Vogt, Chief Revenue Officer of Palladyne AI Corp., filed a Form 4 indicating a transaction involving the company's common stock.
• On November 20, 2024, Mr. Vogt disposed of 324 shares of common stock at a price of $1.94 per share.
• This disposition was an exempt transaction to the Issuer under Rule 16b-3(e) to cover tax withholding obligations arising from the vesting of restricted stock units (RSUs).
• The total number of shares beneficially owned by Mr. Vogt after the transaction is 111,861, which includes shares represented by RSUs.
• 907 RSUs settled on November 20, 2024, and were subsequently reduced by the 324 shares withheld for taxes.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, with no significant positive or negative implications.

Industry Context

This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.

Comparison to Industry Standards

• The transaction is a standard practice for executives receiving stock-based compensation.
• Many companies use restricted stock units (RSUs) as part of their compensation packages, and the subsequent tax withholding is a common occurrence.
• Similar transactions are regularly reported by executives in other publicly traded companies.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine part of executive compensation.

Key Dates

Keywords

Form 4, Palladyne AI Corp, PDYN, Matthew Vogt, Chief Revenue Officer, stock transaction, restricted stock units, RSUs, tax withholding, beneficial ownership