GARAGIC DENIS 4

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.