Form 4: SoundHound AI Executive James Ming Hom Sells Shares Under 10b5-1 Plan

James Ming Hom, Chief Product Officer of SoundHound AI, sold a total of 250,416 shares of Class B Common Stock on March 11 and 13, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• James Ming Hom, Chief Product Officer of SoundHound AI, sold 50,416 shares of Class B Common Stock on March 11, 2024, at a weighted average price of $5.972.
• The sale was executed under a Rule 10b5-1 trading plan adopted in December 2023.
• The shares were sold in multiple trades with prices ranging from $5.69 to $6.25.
• An additional 200,000 shares of Class B Common Stock were sold on March 13, 2024, at a weighted average price of $8.0089.
• These shares were sold in multiple trades with prices ranging from $8.00 to $8.06.
• The sales resulted in the automatic conversion of Class B Common Stock to Class A Common Stock.
• Following the reported transactions, Hom directly owns 1,962,172 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to stock sales by an executive. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.

Industry Context

This filing is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.

Stakeholder Impact

• The sale of shares by a company executive could be perceived negatively by some investors, potentially leading to a slight decrease in stock price, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates