Form 4: Palladyne AI Officer Sells Shares for Tax Obligations

Palladyne AI Corp.'s Chief Commercial Officer, Kristi Martindale, sold 6,753 shares of common stock at a weighted-average price of $5.1129 to cover tax liabilities from restricted stock unit vesting.

Summary

• Kristi Martindale, Chief Commercial Officer of Palladyne AI Corp. (PDYN), reported a transaction on November 21, 2025.
• The transaction involved the sale of 6,753 shares of common stock.
• The shares were sold at a weighted-average price of $5.1129 per share, with individual sales ranging from $5.0601 to $5.151.
• This sale was a 'sell-to-cover' arrangement to satisfy income tax liabilities associated with the vesting of restricted stock unit (RSU) awards.
• The transaction was not a discretionary sale by the reporting person.
• Following this transaction, Kristi Martindale beneficially owns 305,483 shares of common stock.
• The reported shares include those represented by RSUs, of which 14,991 settled on November 20, 2025, and were subsequently reduced by the 6,753 shares sold for taxes.

Sentiment

Score: 5

Explanation: The filing reports a routine, non-discretionary 'sell-to-cover' transaction for tax purposes, which is generally considered neutral in terms of market sentiment as it does not reflect a change in insider confidence or company performance.

Future Outlook

This filing does not contain any forward-looking statements or guidance.

Management Comments

• The sale represents shares of common stock sold to cover income tax liabilities in connection with the vesting of restricted stock unit awards pursuant to sell-to-cover arrangements implemented by the Issuer.
• The reporting person may elect to pay these tax liabilities in cash, and the transaction does not represent a discretionary action by the reporting person.

Industry Context

This is a routine insider transaction related to compensation and tax obligations, and it does not provide specific insights into broader industry trends or competitive landscape.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, non-discretionary transaction for tax purposes and does not signal a change in management's outlook or company fundamentals.

Key Dates

Keywords

Palladyne AI Corp, PDYN, Kristi Martindale, Chief Commercial Officer, Insider Trading, Form 4, Stock Sale, Restricted Stock Units, RSU Vesting, Tax Liabilities, Sell-to-Cover