Summary by Futu AI
SoundHound AI, Inc., a Delaware corporation, has filed a Registration Statement with the Securities and Exchange Commission on November 4, 2024, for the purpose of registering 6 million shares of Class A Common Stock. These shares are reserved for issuance under the SoundHound AI, Inc. 2024 Employment Inducement Incentive Award Plan, which is intended to serve as an inducement for employees to enter into employment with the company. The plan was approved by the Compensation Committee of the company's Board of Directors on August 6, 2024. The registration falls under the Securities Act of 1933 and is in accordance with Nasdaq Listing Rule 5635(c)(4). The company has also made provisions for the documents required in the registration to be sent to the recipients of the grants under the plan, as specified by the SEC rules.