Palladyne AI finalizes separation agreement with former CFO Andrew Hamer; total severance up to $607.5k

Palladyne AI Corp.

Former CFO Andrew Hamer receives $202,500 severance paid over 6 months plus $202,500 retention bonus lump sum.
COBRA premium payments for up to 6 months also included.
If a change-in-control occurs within 3 months post-separation, salary severance increases to $405,000 and bonus to $202,500.
All unvested equity awards (options and RSUs) accelerate upon such change-in-control.
Separation includes full release of all claims against the company and its affiliates.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Andrew Hamer

Chief Financial Officer

PDYN · Palladyne AI Corp.

Effective: 2024-03-05
Filed: March 26, 2024, 7:59 PM ET

Andrew Hamer ceased to be Chief Financial Officer of the Company and its subsidiaries (the “Company Group”) on March 5, 2024 and ceased being an employee on March 8, 2024

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Andrew Hamer departed as Chief Financial Officer at Palladyne AI Corp..

Action: ceased to be Chief Financial Officer
Role: Chief Financial Officer

Exact text from the filing

Andrew Hamer ceased to be Chief Financial Officer of the Company and its subsidiaries (the “Company Group”) on March 5, 2024 and ceased being an employee on March 8, 2024

View on SEC.gov

Palladyne AI Corp. filing history →

Source: SEC EDGAR

accession 0000950170-24-036544

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.