Form 4: Palladyne AI Corp. Executive Matthew Vogt Reports Share Transaction
SEC Form 4 Filing
Matthew Vogt, Chief Revenue Officer of Palladyne AI Corp., reports a transaction involving the disposition of shares to cover tax obligations related to vesting restricted stock units.
Summary
- On May 20, 2024, Matthew Vogt, the Chief Revenue Officer of Palladyne AI Corp., engaged in a transaction where 316 shares of common stock were disposed of to cover tax withholding obligations.
- The shares were remitted to the issuer, Palladyne AI Corp., as an exempt disposition under Rule 16b-3(e).
- Following the transaction, Vogt beneficially owns 112,509 shares, which includes shares represented by RSUs.
- 908 RSUs settled on May 20, 2024, and were subsequently reduced by the 316 shares withheld for taxes.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing a standard transaction for tax purposes, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track changes in ownership and potential alignment of interests.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 05/20/2024 | Date of share transaction and RSU settlement |
| 05/21/2024 | Date of signature on the Form 4 filing |
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