Palladyne AI Corp. has announced a significant update to the compensation terms for its President and CEO, Benjamin G. Wolff. According to a recent filing with the U.S. Securities and Exchange Commission, the company has extended Wolff's employment through the end of 2027 with a new agreement that includes a unique cash payment plan. This plan is based on the value of 1.8 million shares of the company's common stock, contingent upon the stock's performance over a specified period. Additionally, a restricted stock award of 1.5 million shares granted to Wolff has effectively reduced his potential cash payment to zero. This grant was approved at the company's 2025 annual meeting and finalized by the compensation committee on July 2, 2025.
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