Form 4: Palladyne AI Corp. Executive Sonne Reports Share Disposal for Tax Obligations
SEC Form 4 Filing
Stephen Sonne, Chief Legal Officer of Palladyne AI Corp., reports disposing of 797 shares to cover tax obligations related to vesting restricted stock units.
Summary
- On May 20, 2024, Stephen Sonne, the Chief Legal Officer of Palladyne AI Corp., disposed of 797 shares of common stock to the issuer to satisfy tax withholding obligations arising from the vesting of restricted stock units (RSUs).
- The transaction was exempt under Rule 16b-3(e).
- Following the transaction, Sonne beneficially owns 139,335 shares, including shares represented by RSUs.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to tax obligations, so it has a neutral sentiment.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves a small number of shares disposed of by an executive to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 05/20/2024 | Date of the transaction where 797 shares were disposed of to cover tax obligations. |
| 05/20/2024 | 2,745 RSUs settled. |
| 05/21/2024 | Date of signature on the Form 4 filing. |
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