THATCHER TREVOR 4

What Happened

Trevor Thatcher, Chief Financial Officer of Palladyne AI Corp. (PDYN), sold 3,030 shares in an open-market/private sale on March 30, 2026. The shares were sold at a weighted-average price of $5.55 for total proceeds of approximately $16,805. This sale was a sell-to-cover to satisfy income tax withholding obligations arising from recently vested restricted stock units (RSUs), not a discretionary sale to express a view on the company.

Key Details

• Transaction date: March 30, 2026 (Form 4 filed March 31, 2026 — timely).
• Amount/price: 3,030 shares sold; weighted-average price $5.55; total ≈ $16,805.
• Price range: Individual transactions occurred between $5.295 and $5.6301 (aggregate reported per footnote).
• Shares after vesting: 7,078 RSUs settled on March 29, 2026; 3,030 of those were sold for taxes, leaving 4,048 shares retained from that vesting.
• Footnotes: F1 confirms the sale was to cover tax liabilities (sell-to-cover), not a discretionary trade. F2 notes the aggregated reporting and offers to provide per-trade price breakdown on request. F3 explains the relation to the RSU settlement.
• Transaction code: S (Sale) with tax-withholding treatment (F).

Context

This was a routine sell-to-cover transaction following RSU vesting — common for executives when shares vest and taxes are due. Such tax-related sales generally do not indicate increased negative sentiment about the company; they reflect standard compensation settlement mechanics.