---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-038690"
form_type: "8-K/A"
ticker: "PDYN"
cik: "0001826681"
company_name: "Palladyne AI Corp."
filed_at: "2023-08-07T23:59:59+00:00"
generated_at: "2026-06-12T04:48:53.327885+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Sarcos updates restructuring costs: incurred $5.1M, expects $6M more in Q3

## Summary
- Original July 2023 RIF of 71 employees (24% workforce) expected ~$1.5M cash severance.
- Incurred charges of $5.1M for H1 2023: $4.4M inventory write-down, $0.7M fixed asset impairment.
- Additional restructuring expense of ~$6.0M net in Q3, including $1.5M cash and non-cash stock comp acceleration.
- Consolidating Pittsburgh manufacturing into Salt Lake City; COO termination triggers accelerated stock comp.

## SEC filing metadata
- accession: 0000950170-23-038690
- form_type: 8-K/A
- ticker: PDYN
- cik: 0001826681
- company_name: Palladyne AI Corp.
- filed_at: 2023-08-07T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.05
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1826681/000095017023038690/0000950170-23-038690-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1826681/000095017023038690/strc-20230803.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-038690
- JSON: https://secwatch.observer/filing/0000950170-23-038690.json
- Plain text: https://secwatch.observer/filing/0000950170-23-038690.txt

## Key facts
- Restructurings & Charges
  Palladyne AI Corp. announced a restructuring with charges of Approximately $1.5 million of costs (approximately 71 employees, representing approximately 24% of the Company’s workforce).
  - Type: restructuring
  - Charge: Approximately $1.5 million of costs
  - Headcount: approximately 71 employees, representing approximately 24% of the Company’s workforce
  source text: on July 10, 2023 the board of directors of the Company approved a reduction in force affecting approximately 71 employees, representing approximately 24% of the Company’s workforce. As disclosed in the Original Report, the Company expected to 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_url: https://www.sec.gov/Archives/edgar/data/1826681/000095017023038690/0000950170-23-038690-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.