THATCHER TREVOR 4

What Happened

• Trevor Thatcher, Chief Financial Officer of Palladyne AI (PDYN), sold 4,561 shares on May 21, 2026 for a total of $28,023. The shares were sold at a weighted-average price of $6.14 as part of a sell-to-cover transaction tied to the vesting of restricted stock units (RSUs). This was a sale (S) to satisfy tax obligations and is described in the filing as not a discretionary trade.

Key Details

• Transaction date: May 21, 2026.
• Amount and price: 4,561 shares sold; weighted-average price $6.14; individual sale prices ranged from $6.1201 to $6.2111 (filing notes full breakdown available on request).
• Proceeds: approximately $28,023.
• Reason: Sell-to-cover for income tax liabilities related to RSU vesting (Footnote F1 — not a discretionary sale).
• RSU settlement: 11,453 RSUs settled on May 20, 2026; 4,561 of those settled shares were sold for taxes, leaving 6,892 shares retained from that settlement (Footnote F3).
• Filing timeliness: Report filed on May 21, 2026 for the May 21, 2026 transaction — not reported as late in the filing.

Context

• This was a routine sell-to-cover transaction to satisfy tax withholding on vested RSUs (common when awards vest). Such sales are administrative and do not necessarily indicate the insider’s view of the company’s prospects. Purchases are generally viewed as a stronger signal of insider conviction than routine tax-related sales.