Form 4: SoundHound AI CTO Timothy Stonehocker Sells 104,000 Shares
SEC Form 4
SoundHound AI's Chief Technology Officer, Timothy Stonehocker, sold 104,000 shares of Class A Common Stock on June 5, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On June 5, 2024, Timothy Stonehocker, the Chief Technology Officer of SoundHound AI, Inc., sold 104,000 shares of Class A Common Stock.
- The sale was executed at a price of $5.0009 per share.
- The transaction was conducted under a Rule 10b5-1 trading plan adopted in March 2024.
- Following the transaction, Stonehocker beneficially owns 883,570 shares of Class A Common Stock, which includes 4,986 shares acquired through the Employee Stock Purchase Plan in May 2024.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transaction was pre-planned under a Rule 10b5-1 trading plan, suggesting it's not necessarily indicative of the executive's view on the company's future performance.
Industry Context
Executive stock sales are a common occurrence and are often scrutinized by investors for insights into a company's prospects. Sales under a 10b5-1 plan are generally viewed as less indicative of an executive's sentiment on the company's future, as these plans are pre-arranged.
Key Dates
| Date | Description |
|---|---|
| May 05, 2022 | Date of the Limited Power of Attorney for reporting under Section 16(a) of the Securities Exchange Act of 1934. |
| March 2024 | Adoption date of the Rule 10b5-1 trading plan. |
| May 2024 | Acquisition of 4,986 shares through the SoundHound AI, Inc. 2022 Employee Stock Purchase Plan. |
| June 05, 2024 | Date of the stock sale transaction. |
| June 07, 2024 | Date of signature for the Form 4 filing. |
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