Form 4: SoundHound AI Executive Majid Emami Sells Shares to Cover Tax Obligations
SEC Form 4
Majid Emami, VP of Engineering at SoundHound AI, sold 21,024 shares of Class A Common Stock on September 20, 2024, to cover tax withholding obligations related to vesting restricted stock units.
Summary
- On September 20, 2024, Majid Emami, VP of Engineering at SoundHound AI, sold 21,024 shares of Class A Common Stock.
- The sale was executed at a price of $4.8795 per share.
- The transaction was made to satisfy tax withholding obligations related to the vesting of restricted stock units.
- Following the transaction, Emami directly owns 829,752 shares of SoundHound AI.
- Warren Heit, acting as attorney-in-fact for Majid Emami, signed the Form 4 on September 24, 2024.
Sentiment
Score: 5
Explanation: This is a neutral event. It's a routine transaction to cover tax obligations.
Industry Context
This is a routine Form 4 filing related to insider trading. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.
Stakeholder Impact
- The sale of shares could have a minor negative impact on shareholders due to the increased supply of shares in the market, but the impact is likely to be minimal given the relatively small number of shares sold.
Key Dates
| Date | Description |
|---|---|
| May 5, 2022 | Date of the Limited Power of Attorney for reporting under Section 16(a) of the Securities Exchange Act of 1934. |
| August 4, 2022 | Date of restricted stock units grant related to the tax obligation. |
| September 7, 2022 | Date of restricted stock units grant related to the tax obligation. |
| August 3, 2023 | Date of restricted stock units grant related to the tax obligation. |
| August 1, 2024 | Date of restricted stock units grant related to the tax obligation. |
| September 20, 2024 | Date of the stock sale transaction. |
| September 24, 2024 | Date the Form 4 was signed. |
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