Form 4: SoundHound AI CEO Keyvan Mohajer Sells Shares Under 10b5-1 Trading Plan

SoundHound AI CEO Keyvan Mohajer sold a significant number of Class B Common Stock shares, which were then converted to Class A Common Stock, under a pre-arranged 10b5-1 trading plan.

Summary

• Keyvan Mohajer, CEO of SoundHound AI, Inc., executed sales of Class B Common Stock on February 26 and 27, 2024.
• These transactions were conducted under a Rule 10b5-1 trading plan adopted in September 2023.
• On February 26, 2024, 550,000 shares were sold at a weighted-average price of $5.2267, with prices ranging from $5.00 to $5.73.
• On February 27, 2024, two transactions occurred: 531,900 shares were sold at a weighted-average price of $6.9973 (price range $6.51 to $7.50), and 68,100 shares were sold at a weighted-average price of $7.5114 (price range $7.51 to $7.55).
• The sales resulted in the automatic conversion of Class B Common Stock to Class A Common Stock.
• Following these transactions, Mohajer directly owns 14,289,064 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating stock sales by an executive. It's neutral in tone and doesn't inherently suggest positive or negative sentiment about the company's prospects.

Industry Context

Sales by executives are a common occurrence, often planned in advance to diversify personal holdings or for other financial planning reasons. The use of a 10b5-1 plan suggests the sales were pre-arranged and not based on insider information.

Stakeholder Impact

• The share sales could have a minor impact on shareholder sentiment, depending on how the market interprets the CEO's actions.
• The sales do not appear to directly impact employees, customers, suppliers, or creditors.

Key Dates