Form 4: SoundHound AI Chief Product Officer Sells Shares to Cover Tax Obligations

SoundHound AI's Chief Product Officer, James Ming Hom, sold 36,771 shares of Class A Common Stock at $20.3042 per share to cover tax obligations related to vesting restricted stock units.

Summary

• James Ming Hom, Chief Product Officer of SoundHound AI, sold 36,771 shares of Class A Common Stock on December 20, 2024.
• The shares were sold at a price of $20.3042 per share.
• This transaction was to satisfy tax withholding obligations related to the vesting of restricted stock units.
• The restricted stock units were granted on August 4, 2022, September 7, 2022, August 3, 2023 and August 1, 2024.
• Following the transaction, Mr. Hom beneficially owns 718,040 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: This is a neutral event, a routine transaction for an executive to cover tax obligations. It does not indicate any positive or negative sentiment about the company's performance.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across the technology industry.
• Many companies use restricted stock units as part of their compensation packages, leading to similar transactions by executives at other firms.
• The sale of 36,771 shares is not unusual for an executive at a company of SoundHound AI's size.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale by an executive to cover tax obligations.

Key Dates

Keywords

SoundHound AI, insider trading, stock sale, Form 4, James Ming Hom, restricted stock units, tax obligations, executive compensation