GARAGIC DENIS 4
4 · Palladyne AI Corp. · Filed May 21, 2026
Research Summary
AI-generated summary of this filing
Palladyne AI (PDYN) CTO Denis Garagic Sells 17,176 Shares
What Happened
Denis Garagic, Chief Technology Officer of Palladyne AI (PDYN), disposed of 17,176 shares on May 21, 2026. The shares were sold at a weighted-average price of $6.14 for aggregate proceeds of $105,529. This sale was reported as code S (sale) and was executed as a sell-to-cover to satisfy tax withholding obligations tied to RSU vesting, not a discretionary market trade.
Key Details
- Transaction date: 2026-05-21 (Form filed 2026-05-21 — appears timely).
- Price: weighted-average $6.14; individual sale prices ranged from $6.1201 to $6.2111. (Full breakdown available on request per filing.)
- Shares sold: 17,176; proceeds ≈ $105,529.
- Purpose: Tax withholding (sell-to-cover) related to RSU vesting — not a discretionary sale by the reporting person.
- RSU context: 42,100 RSUs settled on May 20, 2026; after withholding/sale of 17,176 shares, 24,924 of those settled RSU shares remained (per filing footnote).
- Filing footnotes: F1 = sell-to-cover for taxes; F2 = prices reported as aggregate/weighted average with range disclosed; F3 = describes RSU settlement and reduction by the withheld shares.
Context
This was a routine tax-withholding sale tied to restricted stock unit settlement. Such sell-to-cover transactions are common and typically reflect tax mechanics rather than an insider signaling a view on the stock. For retail investors, purchases tend to be more informative than routine withholding-related sales.
Insider Transaction Report
- Sale
Common Stock
[F1][F2][F3]2026-05-21$6.14/sh−17,176$105,529→ 559,959 total
Footnotes (3)
- [F1]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, which the Reporting Person may elect to pay in cash, and does not represent discretionary transactions by the Reporting Person.
- [F2]The "Amount" and "Price" reported in this Column 4 reflect the aggregate number and weighted-average price, respectively, of shares sold. These shares were sold in multiple transactions at prices ranging from $6.1201 to $6.2111, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
- [F3]Includes shares represented by RSUs, of which 42,100 settled on May 20, 2026 and were then reduced by the 17,176 shares sold for taxes as reported on this Form 4.