Trevor Thatcher - Apr 17, 2024 Form 4 Insider Report for Palladyne AI Corp. (PDYN)

Role
CHIEF FINANCIAL OFFICER
Signature
/s/ Stephen Sonne, attorney-in-fact on behalf of Trevor Thatcher
Stock symbol
PDYN
Transactions as of
Apr 17, 2024
Transactions value $
$0
Form type
4
Date filed
4/19/2024, 06:11 PM
Previous filing
Apr 2, 2024
Next filing
May 21, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PDYN Stock Option (right to buy) Disposed to Issuer -4K -100% 0 Apr 17, 2024 Common Stock 4K $49.32 Direct F1, F2
transaction PDYN Stock Option (right to buy) Disposed to Issuer -967 -100% 0 Apr 17, 2024 Common Stock 967 $24.54 Direct F2, F3
transaction PDYN Stock Option (right to buy) Disposed to Issuer -19.7K -100% 0 Apr 17, 2024 Common Stock 19.7K $2.82 Direct F2, F4
transaction PDYN Stock Option (right to buy) Award +4K 4K Apr 17, 2024 Common Stock 4K $1.59 Direct F2, F5
transaction PDYN Stock Option (right to buy) Award +967 967 Apr 17, 2024 Common Stock 967 $1.59 Direct F2, F5
transaction PDYN Stock Option (right to buy) Award +19.7K 19.7K Apr 17, 2024 Common Stock 19.7K $1.59 Direct F2, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 25% of the shares subject to the option vested on December 13, 2022, and thereafter 1/12 of the shares subject to the option vest on each quarterly vesting date, subject to the Reporting Person's continued service to the Issuer through such date.
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 25% of the shares subject to the option vested on May 20, 2023, and thereafter 1/12 of the shares subject to the option vest on each quarterly vesting date, subject to the Reporting Person's continued service to the Issuer through such date.
F4 25% of the shares subject to the option vested on March 29, 2024, and thereafter 1/12 of the shares subject to the option vest on each quarterly vesting date, subject to the Reporting Person's continued service to the Issuer through such date.
F5 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.