Form 4: SoundHound AI VP of Engineering Sells Shares to Cover Tax Obligations
SEC Form 4
Majid Emami, VP of Engineering at SoundHound AI, sold 37,459 shares of Class A Common Stock to cover tax obligations related to vesting restricted stock units.
Summary
- Majid Emami, the VP of Engineering at SoundHound AI, sold 37,459 shares of Class A Common Stock on December 20, 2024.
- The sale was executed at a price of $20.3042 per share.
- This transaction was to cover tax withholding obligations associated with the vesting of restricted stock units.
- The restricted stock units were granted on August 4, 2022, September 7, 2022, August 3, 2023 and August 1, 2024.
- Following the transaction, Emami directly owns 698,226 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction for tax purposes, not indicative of positive or negative sentiment towards the company's performance.
Industry Context
This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.
Comparison to Industry Standards
- Similar transactions are common across the tech industry where stock-based compensation is a significant part of executive pay.
- Companies like Google, Microsoft, and Amazon also see similar Form 4 filings from their executives regularly.
- The sale of shares to cover tax obligations is a standard practice and does not necessarily indicate a negative outlook on the company's future.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale by an executive to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 08/04/2022 | Date of one of the restricted stock unit grants. |
| 09/07/2022 | Date of one of the restricted stock unit grants. |
| 08/03/2023 | Date of one of the restricted stock unit grants. |
| 08/01/2024 | Date of one of the restricted stock unit grants. |
| 12/20/2024 | Date of the stock sale transaction. |
| 12/26/2024 | Date the Form 4 was signed. |
Keywords
SoundHound AI, insider trading, stock sale, Form 4, restricted stock units, tax obligations, equity compensation, Majid Emami
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