Palladyne AI CTO sells shares for RSU tax cover
Palladyne AI Corp. chief technology officer Denis Garagic reported an open-market sale of 17,176 shares of common stock at a weighted-average price of $6.144 per share.
Rhea-AI Filing Summary
Palladyne AI Corp. chief technology officer Denis Garagic reported an open-market sale of 17,176 shares of common stock at a weighted-average price of $6.144 per share. According to the disclosure, the shares were sold solely to cover income tax liabilities tied to vesting restricted stock units under sell-to-cover arrangements and are described as non-discretionary. The filing notes that 42,100 RSUs settled on May 20, 2026, and Garagic’s direct holdings after the tax-related sale total 559,959 shares of common stock.
Positive
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Insider Trade Summary
Net Seller: 17,176 shares
Net Sell
1 txn
Insider
GARAGIC DENIS
Role
CHIEF TECHNOLOGY OFFICER
Sold
17,176 shs ($106K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 17,176 | $6.144 | $106K |
Holdings After Transaction:
Common Stock — 559,959 shares (Direct)
Footnotes (3)
- F1. Represents shares of common stock sold to cover income tax liabilities in connection with the vesting of restricted stock unit awards pursuant to sell-to-cover arrangements implemented by the Issuer, which the Reporting Person may elect to pay in cash, and does not represent discretionary transactions by the Reporting Person.
- F2. The "Amount" and "Price" reported in this Column 4 reflect the aggregate number and weighted-average price, respectively, of shares sold. These shares were sold in multiple transactions at prices ranging from $6.1201 to $6.2111, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
- F3. Includes shares represented by RSUs, of which 42,100 settled on May 20, 2026 and were then reduced by the 17,176 shares sold for taxes as reported on this Form 4.
Key Figures
Shares sold: 17,176 shares
Weighted-average sale price: $6.144 per share
Post-transaction holdings: 559,959 shares
+2 more
5 metrics
Shares sold
17,176 shares
Open-market sale on May 21, 2026
Weighted-average sale price
$6.144 per share
Tax-related sell-to-cover sale
Post-transaction holdings
559,959 shares
Shares directly held after sale
RSUs settled
42,100 shares
RSUs settled on May 20, 2026
Sale price range
$6.1201 to $6.2111
Multiple transactions within this range
Key Terms
restricted stock unit, sell-to-cover arrangements, weighted-average price, non-discretionary transactions, +1 more
5 terms
restricted stock unit financial
"in connection with the vesting of restricted stock unit awards pursuant to sell-to-cover arrangements"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
sell-to-cover arrangements financial
"pursuant to sell-to-cover arrangements implemented by the Issuer"
weighted-average price financial
"reflect the aggregate number and weighted-average price, respectively, of shares sold"
Weighted-average price is the average of multiple prices where each price is counted according to its size or importance—larger trades carry more weight than smaller ones, like averaging course grades by credit hours. It matters to investors because it gives a more realistic picture of the true price paid or received, helping assess trade execution, compare performance, calculate cost basis, and value positions more accurately than a simple average.
non-discretionary transactions financial
"and does not represent discretionary transactions by the Reporting Person"
Form 4 regulatory
"shares sold for taxes as reported on this Form 4"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
FAQ
What insider transaction did Palladyne AI (PDYN) report for Denis Garagic?
Palladyne AI reported CTO Denis Garagic sold 17,176 common shares at a weighted-average $6.144. The sale was to cover income tax liabilities from vested RSUs under a sell-to-cover arrangement, characterized as non-discretionary.
Was the PDYN insider sale by Denis Garagic a discretionary trade?
The sale was described as non-discretionary. Shares were sold under sell-to-cover arrangements to satisfy income tax liabilities from restricted stock unit vesting, rather than as an independent trading decision in the open market.
How many RSUs vested for Denis Garagic at Palladyne AI (PDYN)?
The disclosure states that 42,100 shares represented by restricted stock units settled on May 20, 2026. Of these, 17,176 shares were sold to cover income tax obligations, with the remainder contributing to Garagic’s post-transaction holdings.
AI-generated analysis. How Rhea-AI works. Not financial advice.
