Form 4: SoundHound AI COO Michael Zagorsek Sells Shares to Cover Tax Obligations
SEC Form 4
SoundHound AI's Chief Operating Officer, Michael Zagorsek, sold 24,091 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, Michael Zagorsek, the Chief Operating Officer of SoundHound AI, Inc., sold 24,091 shares of Class A Common Stock.
- The sale was executed at a price of $4.0399 per share.
- This transaction was made to cover tax withholding obligations associated with the vesting of restricted stock units.
- Following the transaction, Zagorsek still beneficially owns 765,323 shares of SoundHound AI, Inc.
- This includes 12,562 shares acquired in May 2024 through the company's Employee Stock Purchase Plan.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The transaction is a routine sale to cover tax obligations, and the COO still holds a significant number of shares.
Positives
- Zagorsek's continued holding of 765,323 shares indicates ongoing investment in the company's future.
Industry Context
Insider transactions are routinely monitored and reported to the SEC. Sales to cover tax obligations are common and don't necessarily indicate a negative outlook on the company.
Stakeholder Impact
- The sale could have a minor, temporary impact on the stock price, but is unlikely to significantly affect stakeholders.
Key Dates
| Date | Description |
|---|---|
| May 5, 2022 | Date of the Limited Power of Attorney for reporting under Section 16(a) of the Securities Exchange Act of 1934. |
| August 4, 2022 | Date of one of the restricted stock unit grants that led to the tax obligations. |
| September 7, 2022 | Date of one of the restricted stock unit grants that led to the tax obligations. |
| August 3, 2023 | Date of one of the restricted stock unit grants that led to the tax obligations. |
| May 2024 | Zagorsek acquired 12,562 shares through the Employee Stock Purchase Plan. |
| June 20, 2024 | Date of the stock sale transaction. |
| June 24, 2024 | Date of the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.