Form 4: SoundHound AI CFO Nitesh Sharan Reports Stock Transactions to Cover Tax Obligations
SEC Form 4 Filing
Nitesh Sharan, CFO of SoundHound AI, filed a Form 4 detailing stock sales to cover tax obligations related to vesting restricted stock units.
Summary
- Nitesh Sharan, the Chief Financial Officer of SoundHound AI, Inc., reported transactions involving the company's Class A Common Stock.
- On March 15, 2024, 1,590 shares were withheld to cover tax obligations related to vesting restricted stock units at a price of $8.91.
- On March 19, 2024, 23,212 shares were sold at a price of $8.3656 to satisfy tax withholding obligations related to vesting restricted stock units.
- Following these transactions, Sharan directly owns 751,017 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions for tax purposes, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders due to the increased supply of shares in the market, but it is primarily driven by tax obligations.
Key Dates
| Date | Description |
|---|---|
| May 4, 2022 | Limited Power of Attorney for reporting under Section 16(a) of the Securities Exchange Act of 1934, as amended, was executed. |
| July 20, 2022 | Date of grant of restricted stock units related to tax obligations. |
| September 7, 2022 | Date of grant of restricted stock units related to tax obligations. |
| August 3, 2023 | Date of grant of restricted stock units related to tax obligations. |
| March 15, 2024 | 1,590 shares withheld to cover tax obligations at $8.91. |
| March 19, 2024 | 23,212 shares sold at $8.3656 to cover tax obligations. |
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