secwatch.observer — SEC 8-K summary
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Issuer:     Palladyne AI Corp. (PDYN)
CIK:        0001826681
Form:       8-K
Filed at:   2022-10-21T23:59:59+00:00
Accession:  0001564590-22-034886
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826681/000156459022034886/0001564590-22-034886-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826681/000156459022034886/strc-8k_20221017.htm
  HTML page:      https://secwatch.observer/filing/0001564590-22-034886

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