secwatch.observer — SEC 8-K summary
======================================

Issuer:     Palladyne AI Corp. (PDYN)
CIK:        0001826681
Form:       8-K
Filed at:   2023-10-04T23:59:59+00:00
Accession:  0000950170-23-051924
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sarcos CMO Kristi Martindale exits; separation agreement provides $162K severance
--------------------------------------------------------------------------------

- Kristi Martindale ceased as CMO on July 12, 2023, employment ended Sep 22, 2023, begins consulting role.
- Receives $162,225.24 severance paid over 6 months, plus COBRA premium coverage for up to 6 months.
- Change-in-control within 3 months triggers lump sum severance ($162,225), bonus ($113,557.66), and full equity acceleration.
- Consulting agreement allows up to 20 hours/week; equity awards continue to vest during consulting period.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826681/000095017023051924/0000950170-23-051924-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826681/000095017023051924/strc-20231003.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-051924

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