secwatch.observer — SEC 8-K summary
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Issuer:     Palladyne AI Corp. (PDYN)
CIK:        0001826681
Form:       8-K
Filed at:   2023-06-16T23:59:59+00:00
Accession:  0000950170-23-028608
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 5.02, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sarcos details CEO Allgood's $473K severance; shareholders approve reverse stock split
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- Former CEO Allgood receives $473K severance, 12-month COBRA, $28K housing stipend, auto lease termination payment.
- CTO Denis Garagić gets new employment agreement: $337K base salary, 35% target bonus, change-in-control severance terms.
- Shareholders ratified Ernst & Young as auditor (106.3M votes for) and approved reverse stock split (105.9M for).
- Class II directors elected: Matthew Shigenobu Muta, Laura J. Peterson, Dennis Weibling (83.9M, 84.5M, 82.9M votes for).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826681/000095017023028608/0000950170-23-028608-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826681/000095017023028608/strc-20230612.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-028608

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer