Palladyne AI Corp. () Chief Financial Officer Trevor Thatcher sold 4,561 shares of the company’s 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 per share. The stock currently trades at $6.21, down nearly 4% over the past week, according to InvestingPro data.
The transaction represents shares of common stock sold to cover income tax liabilities in connection with the vesting of restricted stock unit awards. This “sell-to-cover” arrangement was implemented by the issuer and does not reflect a discretionary transaction by Mr. Thatcher.
Following this sale, Mr. Thatcher directly owns 175,697 shares of Palladyne AI Corp. common stock. This figure includes shares represented by restricted stock units, of which 11,453 settled on May 20, 2026, and were subsequently reduced by the 4,561 shares sold for taxes. The company, valued at $293 million, is currently considered overvalued based on InvestingPro’s Fair Value analysis.
In other recent news, Palladyne AI Corp reported its earnings for the first quarter of 2026, highlighting significant developments. The company achieved a revenue of $3.5 million, representing a 107% increase compared to the same quarter the previous year. Despite this substantial revenue growth, Palladyne AI faced challenges with rising losses, reporting a GAAP net loss of $12.6 million, or $0.28 per share. These financial results reflect both the company’s potential for growth and the operational costs impacting its bottom line. Investors will likely be interested in how Palladyne AI plans to address these rising costs moving forward. As the company navigates these financial dynamics, stakeholders will be paying close attention to future earnings reports and strategic decisions.
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