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

Denis Garagic, Chief Technology Officer of Palladyne AI Corp., sold 15,653 shares of common stock to cover income tax liabilities related to vesting restricted stock units.

Summary

• Denis Garagic, the Chief Technology Officer of Palladyne AI Corp., reported a transaction involving the sale of company stock.
• On May 20, 2025, Garagic sold 15,653 shares of common stock at a weighted-average price of $7.2426 per share.
• The sale was executed to cover income tax liabilities associated with the vesting of restricted stock units.
• Following the transaction, Garagic beneficially owns 598,668 shares, including shares represented by RSUs.
• 34,600 RSUs settled on May 20, 2025, and were then reduced by the 15,653 shares sold for taxes.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it reflects a standard transaction for tax purposes and doesn't inherently indicate positive or negative performance for the company.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for them to sell a portion of their shares to cover the taxes associated with the vesting of those shares.

Stakeholder Impact

• The sale of shares by an officer could have a minor, temporary impact on the stock price, but is unlikely to have a significant long-term effect.

Key Dates

Keywords

Palladyne AI Corp., Denis Garagic, Form 4, Stock Sale, Restricted Stock Units, Tax Liabilities, PDYN, Officer Transaction