Form 4: SoundHound AI Director Eric R. Ball Executes Stock Sales Under 10b5-1 Plan
SEC Form 4 Filing
Director Eric R. Ball of SoundHound AI, Inc. sold 90,000 shares of Class A Common Stock in two days under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Eric R. Ball, a director at SoundHound AI, Inc., reported the sale of 90,000 shares of Class A Common Stock.
- The sales occurred on February 26, 2024, and February 27, 2024.
- 50,000 shares were sold on February 26 at a weighted average price of $5.0002, with prices ranging from $5.00 to $5.01.
- 40,000 shares were sold on February 27 at a price of $7.12.
- These transactions were executed under a Rule 10b5-1 trading plan adopted in June 2023.
- Following these transactions, Ball directly owns 490,250 shares and indirectly owns 530,250 shares through the Ball Axline Living Trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sentiment is neutral as it simply reports transactions.
Industry Context
Sales by company directors are a normal part of corporate governance, but are closely watched by investors.
Stakeholder Impact
- The stock sales by a director may influence investor sentiment.
Key Dates
| Date | Description |
|---|---|
| 2014-07-22 | Date of the Ball Axline Living Trust |
| 2022-05-04 | Date of Limited Power of Attorney |
| 2023-06 | Adoption of Rule 10b5-1 trading plan |
| 2024-02-26 | Sale of 50,000 shares of Class A Common Stock |
| 2024-02-27 | Sale of 40,000 shares of Class A Common Stock |
| 2024-02-28 | Date of Form 4 filing |
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