Palladyne AI (PDYN) CEO Wolff awarded 4.47M RSUs, holds 7.31M shares
Rhea-AI Filing Summary
Wolff Benjamin G reported acquisition or exercise transactions in this Form 4 filing.
Palladyne AI Corp. reported that President and CEO Benjamin G. Wolff received a compensation-related award of 4,470,942 restricted stock units (RSUs) of common stock at a price of $0.00 per share. Following the award, he directly holds 7,308,343 shares of common stock, including these RSUs.
The RSUs can only be settled in shares of common stock and are split into 10 equal tranches, each tied to a specific stock price goal and service-based vesting conditions. Wolff also has indirect holdings, including 383,119 shares through a 401k trust, 107,526 shares through Mare's Leg Capital, LLC, and 904 shares held by his spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 4,470,942 shares
Net Buy
4 txns
Insider
Wolff Benjamin G
Role
PRESIDENT & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 4,470,942 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 7,308,343 shares (Direct);
Common Stock — 490,645 shares (Indirect, See footnote);
Common Stock — 904 shares (Indirect, By Spouse)
Footnotes (3)
- F1. Includes 4,470,942 restricted stock units ("RSUs"), which can only be settled with shares of common stock. The RSUs are divided into 10 equally sized tranches, each tied to a stock price goal and service-based vesting conditions.
- F2. Represents shares held by MLC Solo 401k Trust FOB Benjamin Wolff ("401k Trust"). Mr. Wolff and his spouse Julie Wolff are the trustees of the 401k Trust and share voting and dispositive power over equity held by the trust. Mr. Wolff is the sole beneficiary of the 401k Trust.
- F3. Represents shares held by Mare's Leg Capital, LLC ("MLC"). MLC is an entity wholly owned by Mr. Wolff and his spouse Julie Wolff.
Key Figures
RSU grant size: 4,470,942 RSUs
Direct holdings after award: 7,308,343 shares
401k trust holdings: 383,119 shares
+3 more
6 metrics
RSU grant size
4,470,942 RSUs
Awarded to CEO Benjamin G. Wolff at $0.00 per share
Direct holdings after award
7,308,343 shares
Common stock directly held by Benjamin G. Wolff after transaction
401k trust holdings
383,119 shares
Held by MLC Solo 401k Trust FOB Benjamin Wolff
Mare's Leg Capital, LLC holdings
107,526 shares
Indirect holdings through Mare's Leg Capital, LLC
Spouse holdings
904 shares
Indirect holdings reported as held by spouse
RSU tranches
10 tranches
Each tranche tied to stock price goal and service-based vesting
Key Terms
restricted stock units ("RSUs"), service-based vesting conditions, stock price goal, dispositive power, +1 more
5 terms
restricted stock units ("RSUs") financial
"Includes 4,470,942 restricted stock units ("RSUs"), which can only be settled with shares of common stock."
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
service-based vesting conditions financial
"The RSUs are divided into 10 equally sized tranches, each tied to a stock price goal and service-based vesting conditions."
stock price goal financial
"The RSUs are divided into 10 equally sized tranches, each tied to a stock price goal and service-based vesting conditions."
dispositive power financial
"Mr. Wolff and his spouse Julie Wolff are the trustees of the 401k Trust and share voting and dispositive power over equity held by the trust."
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
indirect ownership financial
"direct_or_indirect: "I", nature_of_ownership: "By Spouse" or "See footnote" for trust and LLC holdings."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Palladyne AI (PDYN) disclose about CEO Benjamin Wolff’s new equity award?
Palladyne AI disclosed that CEO Benjamin G. Wolff received an award of 4,470,942 restricted stock units (RSUs). These RSUs are compensation, carry a $0.00 grant price, and can only be settled in common stock, directly linking his upside to Palladyne AI’s share performance.
How are Benjamin Wolff’s 4,470,942 RSUs in Palladyne AI (PDYN) structured?
The 4,470,942 RSUs granted to Benjamin Wolff are divided into 10 equally sized tranches. Each tranche is tied to a specific stock price goal and service-based vesting conditions, meaning vesting depends both on future share-price milestones and on continued service with Palladyne AI.
What indirect holdings in Palladyne AI (PDYN) are reported for Benjamin Wolff?
Indirectly, Benjamin Wolff is associated with 383,119 shares held by a 401k trust and 107,526 shares held by Mare's Leg Capital, LLC. He also has 904 shares attributed through his spouse, providing additional indirect exposure alongside his large direct common stock position.