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Palladyne AI Corp. (NASDAQ:PDYN), a software services company with a market capitalization of $314 million, conducted its annual stockholder meeting on Tuesday, June 11, 2025. The company’s stock, which has shown remarkable volatility and gained over 320% in the past year, currently trades at $8.78. The meeting saw a 66.67% turnout of shareholders, who voted on several key proposals detailed in the April 22, 2025 proxy statement.
During the meeting, two nominees, Admiral Eric T. Olson (Ret.) and Benjamin G. Wolff, were elected as Class I directors until the 2028 annual meeting. Admiral Olson received 13,892,465 votes for and 3,011,642 withheld, with 6,907,583 broker non-votes. Wolff secured 16,791,748 votes for, 112,359 withheld, and 6,907,583 broker non-votes.
Shareholders ratified the appointment of KPMG LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The vote was overwhelmingly in favor, with 23,523,536 for, 39,256 against, and 248,898 abstentions.
The third proposal approved was the restricted stock award(s) to President and Chief Executive Officer, with 16,082,510 votes for, 571,638 against, and 249,959 abstentions. The award aligns with the amended and restated employment agreement with Mr. Wolff from December 2024, which includes a significant compensation based on the company’s stock price, tying his interests with those of the shareholders. Despite impressive gross profit margins of 68%, InvestingPro data shows analysts anticipate a 21% sales decline for the current year.
This report is based on the 8-K filing submitted by Palladyne AI Corp. to the Securities and Exchange Commission on Thursday, June 12, 2025. For deeper insights into PDYN’s financial health and 14 additional exclusive ProTips, visit InvestingPro, where subscribers can access comprehensive analysis and Fair Value estimates.
In other recent news, Palladyne AI Corp. has made significant strides in its collaboration with the U.S. Air Force, securing additional funding under its existing contract with the Air Logistics Complex at Warner Robins Air Force Base. This funding follows the completion of key Military Utility Assessment milestones, which included advanced autonomous media blasting and sanding tasks using Palladyne IQ software. These developments are part of a multi-million-dollar Phase II contract aimed at validating Palladyne’s software for aircraft component remediation. Additionally, Palladyne AI has been included in the Russell 3000 Index following the 2025 reconstitution, which reflects its market capitalization growth. This inclusion is expected to increase the company’s visibility among institutional investors. Furthermore, Palladyne AI has granted equity awards to employees as part of its incentive plans, aligning their interests with those of shareholders. The awards include inducement options for new hires, designed to serve as a retention incentive. These recent developments highlight Palladyne AI’s ongoing efforts to expand its market presence and enhance its technological capabilities.
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