Form 4: SoundHound AI Executive James Hom Receives 400,000 Restricted Stock Units
SEC Form 4
James Ming Hom, Chief Product Officer of SoundHound AI, Inc., was granted 400,000 restricted stock units on August 1, 2024, which vest over three years.
Summary
- James Ming Hom, Chief Product Officer of SoundHound AI, Inc., filed a Form 4 on August 5, 2024, reporting a transaction on August 1, 2024.
- Hom was granted 400,000 shares of Class A Common Stock in the form of restricted stock units.
- These restricted stock units vest over three years in approximately equal monthly installments.
- Following the transaction, Hom beneficially owns 886,989 shares of Class A Common Stock.
Sentiment
Score: 7
Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. It's a neutral to slightly positive event.
Positives
- The grant of restricted stock units aligns the executive's interests with the long-term performance of the company.
Future Outlook
The restricted stock units vest over a three-year period, suggesting a commitment from the executive to remain with the company for at least that duration.
Industry Context
Grants of restricted stock units are a common form of executive compensation in the technology industry, used to incentivize performance and retain key personnel.
Comparison to Industry Standards
- Executive compensation packages, including restricted stock units, are common in the tech industry.
- Companies like Palantir, C3.ai, and UiPath also utilize stock-based compensation to align executive incentives with shareholder value.
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 |
| 08/01/2024 | Date of transaction: Grant of 400,000 restricted stock units. |
| 08/05/2024 | Date of Form 4 filing. |
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