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In a recent transaction, Trevor Thatcher, the Chief Financial Officer of Palladyne AI Corp. (NASDAQ:PDYN), sold 2,623 shares of the company’s common stock. The shares were sold at an average price of approximately $7.24 per share, totaling $18,997. According to InvestingPro data, PDYN’s stock has shown remarkable strength, gaining over 250% in the past year, though the company currently appears slightly overvalued based on Fair Value analysis. This transaction, dated May 20, 2025, was executed to cover income tax liabilities related to the vesting of restricted stock unit awards, as per the company’s sell-to-cover arrangements.
Following this sale, Thatcher retains ownership of 169,097 shares in Palladyne AI. The shares sold were part of multiple transactions at prices ranging from $6.75 to $7.31. These transactions were not discretionary, as they were executed to meet tax obligations.
In other recent news, Palladyne AI Corp. announced the approval of equity awards for its employees under its incentive plans. The company’s Compensation Committee has granted a total of 601,587 shares as part of a strategy to align employee interests with those of shareholders and to serve as a retention incentive. These grants include inducement awards for two recent hires, with options to purchase 25,000 shares and restricted stock units covering 14,087 shares. The inducement awards are designed as a material incentive for the commencement of employment and will vest over four years. This move is intended to incentivize and retain talent through equity-based compensation. Palladyne AI’s recent actions reflect its commitment to fostering employee alignment and retention. The company’s forward-looking statements remain subject to risks and uncertainties, as noted in its filings with the Securities and Exchange Commission.
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