---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-119243"
form_type: "8-K"
ticker: "PDYN"
cik: "0001826681"
company_name: "Palladyne AI Corp."
filed_at: "2024-10-31T23:59:59+00:00"
generated_at: "2026-05-30T07:38:07.494973+00:00"
event_type: "leadership"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Palladyne AI extends CEO Wolff to Nov 2027; adopts inducement plan for 500K shares

## Summary
- CEO Benjamin Wolff's term extended to November 1, 2027; first-year salary net ~$1/year, then $250K base plus 150% bonus target.
- Phantom equity award of 1.8M shares (cliff vest at term end, cash-settled) or, with shareholder approval, restricted stock award of 1.5M shares.
- Board adopted 2024 Inducement Plan reserving 500,000 shares for equity grants to new employees as material inducement, effective December 15, 2024.
- Severance on qualifying termination includes salary, target bonuses, and full vesting of equity incentive.
- Amendment is preliminary and subject to final agreement; Wolff's current employment term was set to expire February 23, 2025.

## SEC filing metadata
- accession: 0000950170-24-119243
- form_type: 8-K
- ticker: PDYN
- cik: 0001826681
- company_name: Palladyne AI Corp.
- filed_at: 2024-10-31T23:59:59+00:00
- event_type: leadership
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1826681/000095017024119243/0000950170-24-119243-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1826681/000095017024119243/pdyn-20241030.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-119243
- JSON: https://secwatch.observer/filing/0000950170-24-119243.json
- Plain text: https://secwatch.observer/filing/0000950170-24-119243.txt

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