Form 4: SoundHound AI Executive Sells Shares to Cover Tax Obligations
SEC Form 4
Majid Emami, VP of Engineering at SoundHound AI, sold 17,041 shares of Class A Common Stock to cover tax withholding obligations related to vesting restricted stock units.
Summary
- On March 19, 2024, Majid Emami, VP of Engineering at SoundHound AI, sold 17,041 shares of Class A Common Stock.
- The sale was executed at a price of $8.3656 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 467,492 shares of SoundHound AI.
- The shares were sold pursuant to a previously established 10b5-1 trading plan.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating a routine transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among company executives.
Stakeholder Impact
- The sale of shares by an executive could have a minor negative impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.
Key Dates
| Date | Description |
|---|---|
| 05/05/2022 | Date of Limited Power of Attorney for reporting under Section 16(a) of the Securities Exchange Act of 1934 |
| 08/04/2022 | Date of restricted stock units grant related to the tax obligation |
| 09/07/2022 | Date of restricted stock units grant related to the tax obligation |
| 08/03/2023 | Date of restricted stock units grant related to the tax obligation |
| 03/19/2024 | Date of stock sale transaction |
| 03/21/2024 | Date of Form 4 filing |
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