Form 4: SoundHound AI Director Eric R. Ball Reports Conversion of Series A Preferred Stock
SEC Form 4 Filing
Director Eric R. Ball reports the automatic conversion of Series A Preferred Stock into Class A Common Stock on June 27, 2024.
Summary
- On June 27, 2024, Eric R. Ball, a director of SoundHound AI, Inc., reported the conversion of Series A Preferred Stock into Class A Common Stock.
- The conversion was automatic and occurred at a ratio determined by the original issue price of $30.00 per share plus accrued dividends, divided by a conversion price of $1.00 per share.
- This transaction resulted in Mr. Ball acquiring 121,506 shares of Class A Common Stock.
- Following the reported transaction, Mr. Ball directly owns 259,888 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a stock conversion, which is neutral in sentiment.
Industry Context
This Form 4 filing is a routine disclosure related to insider transactions and provides transparency to investors regarding the holdings of company directors.
Stakeholder Impact
- The conversion of preferred stock to common stock may have a slight dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| May 4, 2022 | Date of Limited Power of Attorney for reporting under Section 16(a) of the Securities Exchange Act of 1934. |
| May 2, 2023 | Series A Preferred Stock was convertible at the option of the holder following the completion by the registrant of certain conditions. |
| January 2023 | Previous reporting of the acquisition of Series A Preferred Stock on a Form 4. |
| June 27, 2024 | Date of the transaction: automatic conversion of Series A Preferred Stock into Class A Common Stock. |
| July 1, 2024 | Date of signature for the Form 4 filing. |
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