Form 4: SoundHound AI VP Majid Emami Sells Shares Under 10b5-1 Plan

SoundHound AI's VP of Engineering, Majid Emami, executed sales of Class B Common Stock, converting them into Class A Common Stock, under a pre-arranged 10b5-1 trading plan.

Summary

• Majid Emami, VP of Engineering at SoundHound AI, executed sales of company stock on February 26 and 27, 2024.
• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted in September 2023.
• On February 26, 750,000 shares of Class B Common Stock were sold at a weighted-average price of $5.3442, with prices ranging from $5.00 to $5.76.
• On February 27, 700,000 shares of Class B Common Stock were sold at a weighted-average price of $6.7909, with prices ranging from $6.52 to $7.16.
• The sales resulted in the automatic conversion of Class B Common Stock into Class A Common Stock.
• Following the reported transactions, Emami directly owns 16,583,756 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sentiment is neutral as it simply reports transactions under a pre-arranged plan.

Risks

• Large sales by insiders can sometimes be perceived negatively by the market, potentially impacting the stock price.

Industry Context

Insider sales are a common occurrence, and the use of 10b5-1 plans allows insiders to sell shares over time while avoiding accusations of trading on non-public information.

Stakeholder Impact

• The stock sales could potentially influence shareholder sentiment, although the use of a 10b5-1 plan mitigates concerns about opportunistic trading.

Key Dates