Form 4: SoundHound AI COO Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Michael Zagorsek, Chief Operating Officer of SoundHound AI, Inc., sold 24,105 shares of Class A Common Stock on March 19, 2024, to cover tax withholding obligations related to vesting restricted stock units.
Summary
- On March 19, 2024, Michael Zagorsek, the Chief Operating Officer of SoundHound AI, Inc. (SOUN), sold 24,105 shares of Class A Common Stock.
- The sale was executed at a price of $8.3656 per share.
- The transaction was made to satisfy tax withholding obligations associated with the vesting of restricted stock units.
- Following the transaction, Zagorsek directly owns 776,852 shares of SoundHound AI, Inc.
- This includes 5,462 shares acquired through the company's 2022 Employee Stock Purchase Plan in November 2023.
Sentiment
Score: 5
Explanation: The document is a standard 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 compensation and tax planning. The impact on the stock price is usually minimal unless the sale is substantial or indicative of a broader trend among company insiders.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders due to the increased supply of shares, but the effect is likely to be minimal given the relatively small volume of shares sold.
Key Dates
| Date | Description |
|---|---|
| May 5, 2022 | Date of Limited Power of Attorney for reporting under Section 16(a) of the Securities Exchange Act of 1934. |
| August 4, 2022 | Date of restricted stock units grant, part of the reason for the stock sale. |
| September 7, 2022 | Date of restricted stock units grant, part of the reason for the stock sale. |
| August 3, 2023 | Date of restricted stock units grant, part of the reason for the stock sale. |
| November 2023 | Date Michael Zagorsek acquired 5,462 shares through the SoundHound AI, Inc. 2022 Employee Stock Purchase Plan. |
| March 19, 2024 | Date of the stock sale transaction. |
| March 21, 2024 | Date of the Form 4 filing. |
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