Form 4: SoundHound AI CTO Timothy Stonehocker Sells 208,000 Shares
SEC Form 4 Filing
SoundHound AI's Chief Technology Officer, Timothy Stonehocker, executed a sale of 208,000 shares of Class A Common Stock on July 11, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On July 11, 2024, Timothy Stonehocker, the Chief Technology Officer of SoundHound AI, Inc., sold 208,000 shares of Class A Common Stock.
- The sale was executed at a weighted-average price of $5.7523 per share, with individual trades ranging from $5.50 to $6.01.
- The transaction was conducted under a Rule 10b5-1 trading plan adopted in March 2024.
- Following the transaction, Stonehocker still beneficially owns 659,531 shares of SoundHound AI, Inc.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating a routine transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider trading activity. It is common for executives to sell shares under 10b5-1 plans to avoid accusations of insider trading.
Stakeholder Impact
- The sale of shares by a high-ranking executive could be perceived negatively by some investors, potentially leading to slight downward pressure on the stock price.
Key Dates
| Date | Description |
|---|---|
| May 5, 2022 | Date of the Limited Power of Attorney granted by Timothy Stonehocker. |
| March 2024 | Adoption date of the Rule 10b5-1 trading plan. |
| July 11, 2024 | Date of the stock sale transaction. |
| July 15, 2024 | Date of the Form 4 filing. |
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