Form 4: SoundHound AI CFO Nitesh Sharan Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Nitesh Sharan, CFO of SoundHound AI, sold 22,384 shares of Class A Common Stock on June 20, 2024, to satisfy tax withholding obligations related to vesting restricted stock units.
Summary
- On June 20, 2024, Nitesh Sharan, the Chief Financial Officer of SoundHound AI, Inc., sold 22,384 shares of Class A Common Stock.
- The sale was executed at a price of $4.0399 per share.
- This transaction was conducted to cover tax withholding obligations associated with the vesting of restricted stock units.
- Following the transaction, Sharan directly owns 728,633 shares of SoundHound AI, Inc.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating a routine transaction. The sentiment is neutral as it reflects a common practice of executives selling shares to cover tax obligations.
Industry Context
Executive stock sales are a common occurrence, often related to compensation and tax planning. The sale itself doesn't necessarily indicate a negative outlook for the company, but it's important to monitor insider transactions in aggregate to gauge overall sentiment.
Stakeholder Impact
- The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to have a significant impact on other stakeholders.
Key Dates
| Date | Description |
|---|---|
| May 4, 2022 | Date of the Limited Power of Attorney for reporting under Section 16(a) of the Securities Exchange Act of 1934. |
| July 20, 2022 | Date of one of the restricted stock unit grants that triggered the tax obligation. |
| September 7, 2022 | Date of one of the restricted stock unit grants that triggered the tax obligation. |
| August 3, 2023 | Date of one of the restricted stock unit grants that triggered the tax obligation. |
| June 20, 2024 | Date of the stock sale transaction. |
| June 24, 2024 | Date of the Form 4 filing. |
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