Hom James Ming - Feb 26, 2024 Form 4 Insider Report for SOUNDHOUND AI, INC. (SOUN)

Signature
/s /Warren Heit, attorney-in-fact for HOM JAMES MING
Stock symbol
SOUN
Transactions as of
Feb 26, 2024
Transactions value $
-$9,793,430
Form type
4
Date filed
2/28/2024, 07:03 PM
Previous filing
Dec 19, 2023
Next filing
Mar 13, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SOUN Class B Common Stock Sale -$4.21M -900K -22.43% $4.68 3.11M Feb 26, 2024 Class A Common Stock 900K Direct F1, F2, F3
transaction SOUN Class B Common Stock Sale -$2.18M -400K -12.85% $5.46 2.71M Feb 26, 2024 Class A Common Stock 400K Direct F1, F2, F4
transaction SOUN Class B Common Stock Sale -$3.4M -500K -18.43% $6.80* 2.21M Feb 27, 2024 Class A Common Stock 500K Direct F1, F2, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Each share of Class B Common Stock is convertible into one share of Class A Common Stock at any time at the option of the reporting person or automatically or on the earliest to occur of certain events specified. The Class B Common Stock has no expiration date.
F2 This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person in September 2023.
F3 On February 26, 2024, a 10b5-1 transaction executed and sold 900,000 shares of this reporting person's Class B Common Stock, resulting in the automatic conversion of such shares into Class A Common Stock upon execution of the sale. This transaction was executed in multiple trades during the day at prices ranging from $4.45 to $4.98. The weighted-average price is reported above. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
F4 On February 26, 2024, a 10b5-1 transaction executed and sold 400,000 shares of this reporting person's Class B Common Stock, resulting in the automatic conversion of such shares into Class A Common Stock upon execution of the sale. This transaction was executed in multiple trades during the day at prices ranging from $5.45 to $5.49. The weighted-average price is reported above. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
F5 On February 27, 2024, a 10b5-1 transaction executed and sold 500,000 shares of this reporting person's Class B Common Stock, resulting in the automatic conversion of such shares into Class A Common Stock upon execution of the sale. This transaction was executed in multiple trades during the day at prices ranging from $6.51 to $7.16. The weighted-average price is reported above. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.