Form 4: SoundHound AI CTO Timothy Stonehocker Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
SoundHound AI's Chief Technology Officer, Timothy Stonehocker, sold 5,276 shares of Class A Common Stock on March 21, 2024, to satisfy tax withholding obligations related to vesting restricted stock units.
Summary
- On March 21, 2024, Timothy Stonehocker, the Chief Technology Officer of SoundHound AI, Inc., sold 5,276 shares of Class A Common Stock.
- The sale was executed at a price of $7.6961 per share.
- This transaction was conducted to cover tax withholding obligations associated with the vesting of restricted stock units.
- Following the transaction, Stonehocker still beneficially owns 982,584 shares of SoundHound AI, Inc.
- Stonehocker also acquired 4,299 shares of common stock in November 2023 through the company's Employee Stock Purchase Plan.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The sale is for tax purposes, which is a normal activity. The continued holding of a significant number of shares is a positive sign.
Positives
- Stonehocker's participation in the Employee Stock Purchase Plan indicates confidence in the company's future.
Industry Context
Executive stock sales are a common occurrence, often related to personal financial planning or tax obligations. Monitoring these transactions can provide insights into management's perspective on the company's valuation and future prospects.
Stakeholder Impact
- The sale of shares by an executive could be perceived negatively by some shareholders, although the stated reason mitigates this concern.
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 restricted stock units granted to the reporting person. |
| September 7, 2022 | Date of restricted stock units granted to the reporting person. |
| August 3, 2023 | Date of restricted stock units granted to the reporting person. |
| November 2023 | Date when 4,299 shares of common stock were acquired through the Employee Stock Purchase Plan. |
| March 21, 2024 | Date of the transaction where 5,276 shares of Class A Common Stock were sold. |
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.