Palladyne AI Corp. (NASDAQ:PDYN) Chief Financial Officer Trevor Thatcher sold 4,561 shares of common stock on May 21, 2026, for a total value of $28,022.
The shares were sold at prices ranging from $6.1201 to $6.2111, with a weighted-average price of $6.144. The stock currently trades at $6.21, down nearly 4% over the past week.
The transaction was a "sell-to-cover" to satisfy income tax liabilities related to the vesting of restricted stock unit awards. It was implemented by the company and not a discretionary trade by Mr. Thatcher.
After the sale, Mr. Thatcher directly owns 175,697 shares, including 11,453 restricted stock units that vested on May 20, 2026, reduced by the 4,561 shares sold for taxes. The company is valued at $293 million.
In other news, Palladyne AI reported Q1 2026 revenue of $3.5 million, a 107% increase year-over-year, but a GAAP net loss of $12.6 million, or $0.28 per share.
