<SEC-DOCUMENT>0000950170-24-141668.txt : 20241231
<SEC-HEADER>0000950170-24-141668.hdr.sgml : 20241231
<ACCEPTANCE-DATETIME>20241231173003
ACCESSION NUMBER:		0000950170-24-141668
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20241231
DATE AS OF CHANGE:		20241231

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Palladyne AI Corp.
		CENTRAL INDEX KEY:			0001826681
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-92009
		FILM NUMBER:		241593871

	BUSINESS ADDRESS:	
		STREET 1:		650 SOUTH 500 WEST
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84101
		BUSINESS PHONE:		888-927-7296

	MAIL ADDRESS:	
		STREET 1:		650 SOUTH 500 WEST
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Sarcos Technology & Robotics Corp
		DATE OF NAME CHANGE:	20210924

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Sarcos Technology & Robotics Corporation.
		DATE OF NAME CHANGE:	20210924

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Rotor Acquisition Corp.
		DATE OF NAME CHANGE:	20200930

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Smith Fraser
		CENTRAL INDEX KEY:			0001878410
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	MAIL ADDRESS:	
		STREET 1:		360 WAKARA WAY
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84108
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13D" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<headerData>
<submissionType>SCHEDULE 13D/A</submissionType>
<previousAccessionNumber>0001564590-21-050037</previousAccessionNumber>
<filerInfo>
<filer>
<filerCredentials>
<cik>0001878410</cik>
<ccc>XXXXXXXX</ccc>
</filerCredentials>
</filer>
<liveTestFlag>LIVE</liveTestFlag>
</filerInfo>
</headerData>
<formData>
<coverPageHeader>
<amendmentNo>2</amendmentNo>
<securitiesClassTitle>Common Stock, par value $0.0001 per share</securitiesClassTitle>
<dateOfEvent>12/26/2024</dateOfEvent>
<previouslyFiledFlag>false</previouslyFiledFlag>
<issuerInfo>
<issuerCIK>0001826681</issuerCIK>
<issuerCUSIP>80359A205</issuerCUSIP>
<issuerName>Palladyne AI Corp.</issuerName>
<address>
<street1 xmlns="http://www.sec.gov/edgar/common">650 South 500 West</street1>
<street2 xmlns="http://www.sec.gov/edgar/common">Suite 150</street2>
<city xmlns="http://www.sec.gov/edgar/common">Salt Lake City</city>
<stateOrCountry xmlns="http://www.sec.gov/edgar/common">UT</stateOrCountry>
<zipCode xmlns="http://www.sec.gov/edgar/common">84101</zipCode>
</address>
</issuerInfo>
<authorizedPersons>
<notificationInfo>
<personName>Patrick J. Schultheis</personName>
<personPhoneNum>(206) 883-2500</personPhoneNum>
<personAddress>
<street1 xmlns="http://www.sec.gov/edgar/common">701 Fifth Avenue</street1>
<street2 xmlns="http://www.sec.gov/edgar/common">Suite 5100</street2>
<city xmlns="http://www.sec.gov/edgar/common">Seattle</city>
<stateOrCountry xmlns="http://www.sec.gov/edgar/common">WA</stateOrCountry>
<zipCode xmlns="http://www.sec.gov/edgar/common">98104</zipCode>
</personAddress>
</notificationInfo>
<notificationInfo>
<personName>Michael Nordtvedt</personName>
<personPhoneNum>(206) 883-2500</personPhoneNum>
<personAddress>
<street1 xmlns="http://www.sec.gov/edgar/common">(206) 883-2500</street1>
<street2 xmlns="http://www.sec.gov/edgar/common">Suite 5100</street2>
<city xmlns="http://www.sec.gov/edgar/common">Seattle</city>
<stateOrCountry xmlns="http://www.sec.gov/edgar/common">WA</stateOrCountry>
<zipCode xmlns="http://www.sec.gov/edgar/common">98104</zipCode>
</personAddress>
</notificationInfo>
<notificationInfo>
<personName>Fraser Smith</personName>
<personPhoneNum>(888) 927-7296</personPhoneNum>
<personAddress>
<street1 xmlns="http://www.sec.gov/edgar/common">650 South 500 West</street1>
<street2 xmlns="http://www.sec.gov/edgar/common">Suite 150</street2>
<city xmlns="http://www.sec.gov/edgar/common">Salt Lake City</city>
<stateOrCountry xmlns="http://www.sec.gov/edgar/common">UT</stateOrCountry>
<zipCode xmlns="http://www.sec.gov/edgar/common">84101</zipCode>
</personAddress>
</notificationInfo>
</authorizedPersons>
</coverPageHeader>
<reportingPersons>
<reportingPersonInfo>
<reportingPersonCIK>0001878410</reportingPersonCIK>
<reportingPersonNoCIK>N</reportingPersonNoCIK>
<reportingPersonName>Dr. Fraser Smith</reportingPersonName>
<fundType>PF</fundType>
<legalProceedings>N</legalProceedings>
<citizenshipOrOrganization>X1</citizenshipOrOrganization>
<soleVotingPower>1325845</soleVotingPower>
<sharedVotingPower>1325845</sharedVotingPower>
<soleDispositivePower>1325845</soleDispositivePower>
<sharedDispositivePower>1325845</sharedDispositivePower>
<aggregateAmountOwned>1325845</aggregateAmountOwned>
<isAggregateExcludeShares>N</isAggregateExcludeShares>
<percentOfClass>4.4</percentOfClass>
<typeOfReportingPerson>IN</typeOfReportingPerson>
<commentContent>This Amendment No. 2 (Amendment No. 2) amends and supplements the prior statement on Schedule 13D as filed on October 4, 2021, as amended by Amendment No. 1 to Schedule 13D filed on December 23, 2024 (as amended, the Schedule 13D). This Amendment No. 2 relates to the beneficial ownership of shares of common stock, par value $0.0001 per share (the Common Stock) of Palladyne AI Corp. (the Issuer) held by Dr.  Fraser Smith (the Reporting Person). This Amendment No. 2 is being voluntarily filed to update the aggregate percentage of Common Stock owned by the Reporting Person caused by sales of Common Stock which collectively resulted in a disposition of nearly one percent (1 percent) of the outstanding shares of Common Stock. Except as otherwise specified in Amendment No. 2, all items in the Schedule 13D are unchanged. All capitalized terms used in this Amendment No. 2 and not otherwise defined herein shall have the meanings ascribed to such terms in the Schedule 13D.

As of the date of this Amendment No. 2, and as a result of the transactions reported herein, Dr. Smith no longer holds greater than 5 percent of the Issuer's securities and will therefore cease to be a Reporting Person. The filing of this Amendment No. 2 represents the final amendment to the Schedule 13D and constitutes an exit filing for the Reporting Person.
</commentContent>
</reportingPersonInfo>
</reportingPersons>
<items1To7>
<item1>
<securityTitle>Common Stock, par value $0.0001 per share</securityTitle>
<issuerName>Palladyne AI Corp.</issuerName>
<issuerPrincipalAddress>
<street1 xmlns="http://www.sec.gov/edgar/common">650 South 500 West</street1>
<street2 xmlns="http://www.sec.gov/edgar/common">Suite 150</street2>
<city xmlns="http://www.sec.gov/edgar/common">Salt Lake City</city>
<stateOrCountry xmlns="http://www.sec.gov/edgar/common">UT</stateOrCountry>
<zipCode xmlns="http://www.sec.gov/edgar/common">84101</zipCode>
</issuerPrincipalAddress>
</item1>
<item5>
<percentageOfClassSecurities>As of the date of this Amendment No.2, Dr. Smith beneficially owns an aggregate of 1,325,845 shares of Common Stock, or 4.40%, of the Issuer's outstanding shares of Common Stock, consisting of:
*	1,315,503 shares of Common Stock; and
*	10,342 shares of Common Stock underlying options exercisable within 60 days of December 30, 2024.
 Dr. Smith has sole voting and dispositive power over the 1,325,845 shares of Common Stock.
The beneficial ownership percentages used in this Schedule are calculated based on the 30,112,399 shares of Common Stock of the Issuer outstanding as of November 6, 2024.
</percentageOfClassSecurities>
<numberOfShares>As of the date of this Amendment No.2, Dr. Smith beneficially owns an aggregate of 1,325,845 shares of Common Stock, or 4.40%, of the Issuer's outstanding shares of Common Stock, consisting of:
*	1,315,503 shares of Common Stock; and
*	10,342 shares of Common Stock underlying options exercisable within 60 days of December 30, 2024.
 Dr. Smith has sole voting and dispositive power over the 1,325,845 shares of Common Stock.
The beneficial ownership percentages used in this Schedule are calculated based on the 30,112,399 shares of Common Stock of the Issuer outstanding as of November 6, 2024.
</numberOfShares>
<transactionDesc>Except as described in this Item 5(c), Dr. Smith has not effected any transactions in the Common Stock during the past 60 days. Since Amendment No. 1 was filed on December 23, 2024, Dr. Smith has effected the following open market sales of Common Stock during the past 60 days:

Transaction Date, Shares Sold, Weighted Average Trading Price Per Share
12/26/2024, 300,000, $7.3

</transactionDesc>
</item5>
</items1To7>
<signatureInfo>
<signaturePerson>
<signatureReportingPerson>Dr. Fraser Smith</signatureReportingPerson>
<signatureDetails>
<signature>/s/Fraser Smith</signature>
<title>Fraser Smith</title>
<date>12/31/2024</date>
</signatureDetails>
</signaturePerson>
</signatureInfo>
</formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
