SCHEDULE 13D/A 0001564590-21-050040 0001883834 XXXXXXXX LIVE 2 Common Stock, par value $0.0001 per share 12/20/2024 false 0001826681 80359A205 Palladyne AI Corp.

650 South 500 West Suite 150 Salt Lake City UT 84101

Patrick J. Schultheis (206) 883-2500 701 Fifth Avenue Suite 5100 Seattle WA 98104 Michael Nordtvedt (206) 883-2500 701 Fifth Avenue Suite 5100 Seattle WA 98104 Marc Olivier (801) 654-1964 1941 S Wasatch Dr Salt Lake City UT 84108 0001883834 N Marc Olivier PF N X1 1748832 1748832 1748832 1748832 1748832 N 5.81 IN 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 July 31, 2023 (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 Marc Olivier (the 'Reporting Person). This Amendment No. 2 is being 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 one percent (1 percent) or more 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. Common Stock, par value $0.0001 per share Palladyne AI Corp. 650 South 500 West Suite 150 Salt Lake City UT 84101 As of the date of this Amendment No.2, Mr. Olivier beneficially owns an aggregate of 1,748,832 shares of Common Stock, or 5.81%, of the Issuer's outstanding shares of Common Stock. Mr. Olivier has sole voting and dispositive power over the 1,748,832 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. As of the date of this Amendment No.2, Mr. Olivier beneficially owns an aggregate of 1,748,832 shares of Common Stock, or 5.81%, of the Issuer's outstanding shares of Common Stock. Mr. Olivier has sole voting and dispositive power over the 1,748,832 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. Item 5 of the Schedule 13D is hereby amended and supplemented as follows: Except as described in this Item 5(c), Mr. Olivier has not effected any transactions in the Common Stock during the past 60 days. Mr. Olivier 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 10/22/2024 4,000 2.07 10/24/2024 2,993 2.01 10/25/2024 10,000 2.15 10/28/2024 12,000 2.44 10/29/2024 4,000 2.30 10/30/2024 2,433 2.30 11/1/2024 1,587 2.05 11/4/2024 534 2.05 11/5/2024 5,000 2.17 11/6/2024 5,000 2.16 11/7/2024 5,000 2.14 11/8/2024 4,115 2.11 11/11/2024 5,000 2.22 11/12/2024 3,600 2.30 11/13/2024 1,736 2.30 11/18/2024 2,000 1.81 11/19/2024 2,000 1.83 11/20/2024 3,000 1.99 11/21/2024 7,000 2.51 11/22/2024 30,000 3.33 11/25/2024 245 4.78 11/27/2024 10,000 5.88 11/29/2024 5,000 5.96 12/2/2024 3,600 6.04 12/3/2024 3,000 5.17 12/4/2024 2,191 5.15 12/5/2024 3,000 4.96 12/6/2024 3,000 4.31 12/9/2024 2,000 4.26 12/10/2024 3,000 4.31 12/11/2024 2,100 3.92 12/12/2024 3,000 4.14 12/13/2024 2,000 3.61 12/16/2024 5,000 4.11 12/18/2024 3,000 3.97 12/20/2024 30,000 3.20 Exhibit Exhibit Filed or Furnished Number Description Form File No. No. Filing Date Herewith 3 Amended and Restated Bylaws 8-K 001-39897 3.2 March 18, 2024 Marc Olivier /s/ Marc Olivier 12/23/2024