{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-23-032673","form_type":"8-K","ticker":"PDYN","cik":"0001826681","company_name":"Palladyne AI Corp.","filed_at":"2023-07-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:35.520619+00:00","generated_at":"2026-06-13T09:34:26.960488+00:00","sec_items":["2.05","5.02","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Sarcos cuts 24% of workforce, withdraws FY2023 guidance; preliminary Q2 revenue $1.3M","bullets":["Reduction in force of ~71 employees (~24% of workforce); one-time charge of ~$1.5M in Q3 2023.","Preliminary Q2 2023 revenue of ~$1.3M; prior full-year revenue guidance withdrawn.","COO Jorgen Pedersen and CMO Kristi Martindale depart effective July 12, 2023.","Average monthly cash usage targeted to decline from ~$6.5M (Q2 2023) to ~$3.0M (Q1 2024); annual savings ~$14.1M.","Advanced Technologies AI/ML software division formed; Pittsburgh manufacturing consolidated into Salt Lake City."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-23-032673","json":"https://secwatch.observer/filing/0000950170-23-032673.json","markdown":"https://secwatch.observer/filing/0000950170-23-032673.md","text":"https://secwatch.observer/filing/0000950170-23-032673.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1826681/000095017023032673/0000950170-23-032673-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1826681/000095017023032673/strc-20230710.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T09:34:26.960488+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"02543546d2","claim":"Jorgen Pedersen departed as Chief Operating Officer at Palladyne AI Corp..","evidence_excerpt":"Jorgen Pedersen ceased to be Chief Operating Officer of the Company and its subsidiaries (the “Company Group”) on July 12, 2023.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1826681/000095017023032673/0000950170-23-032673-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"ceased to be"},{"label":"Role","value":"Chief Operating Officer"}],"fact_type":"executive_change"},{"claim_id":"a99642456d","claim":"Kristi Martindale departed as Chief Marketing Officer at Palladyne AI Corp..","evidence_excerpt":"Kristi Martindale, ceased to be the Chief Marketing Officer of the Company Group on July 12, 2023.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1826681/000095017023032673/0000950170-23-032673-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"ceased to be"},{"label":"Role","value":"Chief Marketing Officer"}],"fact_type":"executive_change"},{"claim_id":"982ad80107e9e22f7eafd49300f45f5e5e99ce83","claim":"Palladyne AI Corp. announced a restructuring with charges of approximately $1.5 million (approximately 71 employees, representing approximately 24% of the Company’s workforce).","evidence_excerpt":"On July 10, 2023, the board of directors of Sarcos Technology and Robotics Corporation (the “Company”) approved a reduction in force affecting approximately 71 employees, representing approximately 24% of the Company’s workforce. The Company took this step to decrease its costs and create a more streamlined organization to support its business. In connection with the reduction in force, the Company currently estimates it will incur approximately $1.5 million of costs, consisting primarily of personnel expenses such as salaries and wages, one-time severance payments, and other benefits.","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1826681/000095017023032673/0000950170-23-032673-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $1.5 million"},{"label":"Headcount","value":"approximately 71 employees, representing approximately 24% of the Company’s workforce"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}