Form 4: SoundHound AI VP Majid Emami Sells Shares to Cover Tax Obligations
SEC Form 4
Majid Emami, VP of Engineering at SoundHound AI, sold 16,716 shares of Class A Common Stock to cover tax obligations related to vesting restricted stock units.
Summary
- On June 20, 2024, Majid Emami, VP of Engineering at SoundHound AI, sold 16,716 shares of Class A Common Stock at a price of $4.0399 per share.
- The sale was executed to satisfy tax withholding obligations associated with the vesting of restricted stock units granted on August 4, 2022, September 7, 2022, and August 3, 2023.
- Following the transaction, Emami directly owns 450,776 shares of SoundHound AI's Class A Common Stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transaction is a routine sale to cover tax obligations and doesn't necessarily reflect a change in the insider's confidence in the company.
Industry Context
Insider sales are a common occurrence, especially to cover tax obligations related to stock-based compensation. The market typically views these sales in the context of the overall insider ownership and company performance.
Stakeholder Impact
- The sale may have a minor impact on shareholders due to the small volume of shares sold.
Key Dates
| Date | Description |
|---|---|
| May 5, 2022 | Date of the Limited Power of Attorney granted to Warren Heit, Nitesh Sharan, or Keyvan Mohajer for Section 16(a) reporting. |
| August 4, 2022 | Date of one of the restricted stock unit grants that triggered the tax obligation. |
| September 7, 2022 | Date of one of the restricted stock unit grants that triggered the tax obligation. |
| August 3, 2023 | Date of one of the restricted stock unit grants that triggered the tax obligation. |
| June 20, 2024 | Date of the stock sale transaction. |
| June 24, 2024 | Date of the Form 4 filing. |
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