4//SEC Filing
SONNE STEPHEN 4
Accession 0001415889-24-011258
CIK 0001826681other
Filed
Apr 18, 8:00 PM ET
Accepted
Apr 19, 6:16 PM ET
Size
8.8 KB
Accession
0001415889-24-011258
Insider Transaction Report
Form 4
SONNE STEPHEN
CHIEF LEGAL OFFICER
Transactions
- Disposition to Issuer
Stock Option (right to buy)
2024-04-17−19,757→ 0 totalExercise: $40.20Exp: 2032-02-07→ Common Stock (19,757 underlying) - Award
Stock Option (right to buy)
2024-04-17+19,757→ 19,757 totalExercise: $1.59Exp: 2032-02-07→ Common Stock (19,757 underlying)
Footnotes (3)
- [F1]25% of the shares subject to the option vested on February 7, 2023, and thereafter 1/12 of the shares subject to the option shall vest on each quarterly vesting date, subject to the Reporting Person's continued service to the Issuer through such date. Due to a clerical error, the expiration date of the option was erroneously reported as April 1, 2032 in the Reporting Person's Form 3 filed on November 8, 2023.
- [F2]Outstanding options were amended to reduce the exercise price and revise the vesting terms. This amendment was approved by the compensation committee of the Issuer's board of directors and is intended to be exempt pursuant to Rule 16b-3 of the Exchange Act.
- [F3]The option is fully unvested as of the amendment. 25% of the shares subject to the option will vest on March 29, 2025, and then 1/12 of the shares subject to the option vest on each quarterly vesting date thereafter, subject to the Reporting Person's continued service to the Issuer through such date.
Documents
Issuer
Palladyne AI Corp.
CIK 0001826681
Entity typeother
Related Parties
1- filerCIK 0001998996
Filing Metadata
- Form type
- 4
- Filed
- Apr 18, 8:00 PM ET
- Accepted
- Apr 19, 6:16 PM ET
- Size
- 8.8 KB