Form 4: Palladyne AI Corp. Executive Matthew Vogt Reports Tax-Related Share Disposition
SEC Filing
Chief Revenue Officer Matthew Vogt disposed of 1,280 shares of Palladyne AI Corp. to cover tax obligations related to vesting restricted stock units.
Summary
- On March 29, 2024, Matthew Vogt, Chief Revenue Officer of Palladyne AI Corp., disposed of 1,280 shares of common stock.
- The disposition was an exempt transaction to the issuer to satisfy tax withholding obligations arising from the vesting of restricted stock units (RSUs).
- The price per share for the disposition was $1.81.
- Following the transaction, Vogt beneficially owns 112,825 shares, including shares represented by RSUs.
Sentiment
Score: 5
Explanation: This is a routine transaction related to tax obligations, so it's neutral in sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders, like officers and directors, trade in their company's stock. This filing indicates a transaction related to tax obligations from vested equity.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/29/2024 | Date of share disposition for tax withholding. |
| 04/02/2024 | Date of Form 4 filing. |
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