The latest update is out from Palladyne AI Corp (PDYN).
Palladyne AI Corp. has revised the terms of stock options under its 2021 and 2015 Equity Incentive Plans to enhance employee incentives and manage share dilution. While the CEO and Board members’ options remain unchanged, the amendments affect certain senior employees and other eligible participants. The changes include resetting the vesting schedule and reducing the exercise price to $1.59, aligning with the stock’s closing price on April 17, 2024. These adjustments aim to rejuvenate retention incentives and optimize stock option effectiveness, as previous options were “underwater,” meaning their exercise price was above the stock’s current value.
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