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

Denis Garagic, Chief Technology Officer of Palladyne AI Corp., sold 1,657 shares of common stock on March 31, 2025, to cover income tax liabilities related to vesting restricted stock units.

Summary

• On March 31, 2025, Denis Garagic, the Chief Technology Officer of Palladyne AI Corp., sold 1,657 shares of the company's common stock.
• The sale was executed to cover income tax liabilities associated with the vesting of restricted stock units.
• The shares were sold at a weighted-average price of $5.816, with individual transactions ranging from $5.7702 to $5.861.
• Following the transaction, Garagic beneficially owns 614,321 shares of Palladyne AI Corp.
• The reported transaction does not represent discretionary transactions by the Reporting Person.

Sentiment

Score: 6

Explanation: The document is neutral. It reports a routine transaction (stock sale for tax purposes) by an executive. There's no indication of positive or negative sentiment towards the company's performance or future prospects.

Industry Context

Executive stock sales are a common occurrence, often related to compensation and tax planning. The sale itself doesn't necessarily indicate a negative outlook for the company, especially when it's explicitly stated to cover tax obligations.

Stakeholder Impact

• The sale has a minimal impact on shareholders, as it's a small percentage of the total outstanding shares and is related to tax obligations.

Key Dates

Keywords

Palladyne AI Corp, PDYN, Denis Garagic, Chief Technology Officer, Form 4, Stock Sale, Restricted Stock Units, Tax Liabilities, Beneficial Ownership