CFO Steven Hansen departs; transition agreement details severance and equity acceleration

Palladyne AI Corp.

Steven Hansen ceased as CFO effective Oct 10, 2022; will assist transition until Dec 1, 2022.
Severance: 6 months base salary, COBRA reimbursement, plus double-trigger change-in-control benefits.
Change-in-control triggers: lump sum of 6 months salary, 100% target bonus, and full equity acceleration at target.
Hansen remains employed during transition at current base salary but no bonus, no new equity, no compensation increases.
Agreement supersedes prior employment agreement severance; Hansen releases all claims subject to supplemental release.

item 5.02 item 9.01

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Departed

Steven Hansen

Chief Financial Officer

PDYN · Palladyne AI Corp.

Effective: 2022-10-10
Filed: October 21, 2022, 7:59 PM ET

Effective October 10, 2022, Steven Hansen ceased to be Chief Financial Officer of Sarcos Technology and Robotics Corporation (the “Company”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Steven Hansen departed as Chief Financial Officer at Palladyne AI Corp..

Action: ceased
Role: Chief Financial Officer

Exact text from the filing

Effective October 10, 2022, Steven Hansen ceased to be Chief Financial Officer of Sarcos Technology and Robotics Corporation (the “Company”).

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Source: SEC EDGAR

accession 0001564590-22-034886

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