secwatch.observer — SEC 8-K summary
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Issuer:     Palladyne AI Corp. (PDYN)
CIK:        0001826681
Form:       8-K
Filed at:   2024-03-26T23:59:59+00:00
Accession:  0000950170-24-036544
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826681/000095017024036544/0000950170-24-036544-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826681/000095017024036544/strc-20240322.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-036544

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