Form 4: SoundHound AI Executive James Hom Sells Shares to Cover Tax Obligations
SEC Form 4
James Ming Hom, Chief Product Officer of SoundHound AI, sold shares to cover tax obligations related to vesting restricted stock units.
Summary
- On June 20, 2024, James Ming Hom, Chief Product Officer of SoundHound AI, sold 16,716 shares of Class A Common Stock at a price of $4.0399 per share.
- The sale was made to satisfy tax withholding obligations related to the vesting of restricted stock units granted on August 4, 2022, September 7, 2022, and August 3, 2023.
- Following the transaction, Hom beneficially owns 486,989 shares of SoundHound AI.
- This includes 8,014 shares acquired in May 2024 through the SoundHound AI, Inc. 2022 Employee Stock Purchase Plan.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transaction appears to be a routine sale to cover tax obligations, with no indication of a change in the executive's long-term confidence in the company.
Industry Context
Executive share sales are a common occurrence, often related to compensation and tax planning. The sale itself doesn't necessarily indicate a negative outlook for the company, but it's a transaction investors often monitor.
Stakeholder Impact
- The sale could have a minor impact on shareholders due to the increased supply of shares, but the effect is likely minimal given the relatively small number of shares sold compared to the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 2022-05-04 | Date of Limited Power of Attorney for reporting under Section 16(a) of the Securities Exchange Act of 1934 |
| 2022-08-04 | Date of restricted stock units grant related to the share sale. |
| 2022-09-07 | Date of restricted stock units grant related to the share sale. |
| 2023-08-03 | Date of restricted stock units grant related to the share sale. |
| 2024-05 | Date of common stock acquisition through the SoundHound AI, Inc. 2022 Employee Stock Purchase Plan. |
| 2024-06-20 | Date of the share sale transaction. |
| 2024-06-24 | Date of the Form 4 filing. |
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