Palladyne AI Corp. Reports Director/Officer Changes
Ticker: PDYNW · Form: 8-K · Filed: Mar 26, 2024 · CIK: 1826681
| Field | Detail |
|---|---|
| Company | Palladyne Ai Corp. (PDYNW) |
| Form Type | 8-K |
| Filed Date | Mar 26, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $69.00, $202,500, $405,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, corporate-governance
TL;DR
Palladyne AI Corp. just swapped out some execs and directors, effective March 22.
AI Summary
Palladyne AI Corp. (formerly Sarcos Technology & Robotics Corp) filed an 8-K on March 26, 2024, reporting changes effective March 22, 2024. The filing indicates a departure of directors or certain officers, the election of new directors, and the appointment of certain officers, along with updates to compensatory arrangements. The company is incorporated in Delaware and its fiscal year ends on December 31.
Why It Matters
Changes in a company's board of directors and executive officers can signal shifts in strategy, governance, or operational focus.
Risk Assessment
Risk Level: medium — Changes in key leadership roles can introduce uncertainty regarding future strategy and performance.
Key Players & Entities
- Palladyne AI Corp. (company) — Registrant
- Sarcos Technology & Robotics Corp (company) — Former company name
- Sarcos Technology & Robotics Corporation. (company) — Former company name
- Rotor Acquisition Corp. (company) — Former company name
- March 22, 2024 (date) — Effective date of reported changes
- March 26, 2024 (date) — Filing date
FAQ
What specific changes were made regarding directors and officers?
The filing indicates a departure of directors or certain officers, the election of directors, and the appointment of certain officers, effective March 22, 2024.
Are there any updates to executive compensation arrangements?
Yes, the filing mentions compensatory arrangements of certain officers as an item of disclosure.
When did Palladyne AI Corp. change its name?
The company was formerly known as Sarcos Technology & Robotics Corp, with a name change date of September 24, 2021.
What is the state of incorporation for Palladyne AI Corp.?
Palladyne AI Corp. is incorporated in Delaware.
What is the primary business address of Palladyne AI Corp.?
The business address is 650 SOUTH 500 WEST, SALT LAKE CITY, UT 84101.
Filing Stats: 971 words · 4 min read · ~3 pages · Grade level 13.1 · Accepted 2024-03-26 17:02:26
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share STRC The Nasdaq Stock Mar
- $69.00 — of Common Stock at an exercise price of $69.00 per share STRCW The Nasdaq Stock Ma
- $202,500 — ent Agreement: an aggregate amount of $202,500, less applicable withholdings (the "Sev
- $405,000 — sum severance payment in the amount of $405,000, less the gross amount of any payments
Filing Documents
- strc-20240322.htm (8-K) — 52KB
- strc-ex10_1.htm (EX-10.1) — 102KB
- 0000950170-24-036544.txt ( ) — 319KB
- strc-20240322.xsd (EX-101.SCH) — 43KB
- strc-20240322_htm.xml (XML) — 6KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Separation Agreement and Release, dated as of March 14, 2024, among the Company, Sarcos Corp. and Andrew Hamer * 104 Cover Page Interactive Data File (formatted as Inline XBRL) * Schedules and exhibits omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to furnish supplementally a copy of any omitted schedule or exhibit to the SEC upon request. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Sarcos Technology and Robotics Corporation Dated: March 26, 2024 By: /s/ Stephen Sonne Name: Title: Stephen Sonne Chief Legal Officer & Secretary