Form 4: SoundHound AI CFO Nitesh Sharan Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Nitesh Sharan, CFO of SoundHound AI, sold 39,728 shares of Class A Common Stock on September 20, 2024, to satisfy tax withholding obligations related to vesting restricted stock units.
Summary
- On September 20, 2024, Nitesh Sharan, the Chief Financial Officer of SoundHound AI, Inc. (SOUN), sold 39,728 shares of Class A Common Stock.
- The sale was executed at a price of $4.8795 per share.
- Following the transaction, Sharan directly owns 1,560,411 shares of SoundHound AI, Inc.
- The sale was conducted to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
- These RSUs were granted on July 20, 2022, September 7, 2022, August 3, 2023 and August 1, 2024.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating a routine stock sale for tax purposes. It doesn't convey any particularly positive or negative sentiment.
Industry Context
Executive stock sales are a common occurrence, often related to personal financial planning or tax obligations. The impact on the stock price is usually minimal unless the sale is substantial or indicative of a change in the executive's confidence in the company.
Stakeholder Impact
- The sale may have a minor impact on shareholders due to the increased supply of shares, but it's unlikely to be significant given the relatively small volume.
Key Dates
| Date | Description |
|---|---|
| May 4, 2022 | Limited Power of Attorney granted to Warren Heit or Keyvan Mohajer for Section 16(a) reporting. |
| July 20, 2022 | Date of one of the restricted stock unit grants that led to the tax obligation. |
| September 7, 2022 | Date of one of the restricted stock unit grants that led to the tax obligation. |
| August 3, 2023 | Date of one of the restricted stock unit grants that led to the tax obligation. |
| August 1, 2024 | Date of one of the restricted stock unit grants that led to the tax obligation. |
| September 20, 2024 | Date of the stock sale transaction. |
| September 24, 2024 | Date of the Form 4 filing. |
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