On October 3, 2024, SoundHound AI responded to the SEC's comment regarding its Form 10-K for the fiscal year ended December 31, 2023. The SEC inquired about the company's recovery analysis of incentive-based compensation due to error corrections in financial statements.SoundHound AI clarified that the error corrections involved restatements related to equity line of credit, lender fees, and in-kind dividends. These corrections did not impact financial metrics used for executive compensation, thus no recovery was triggered. The company detailed that its executive compensation included service-based restricted stock awards and non-equity bonuses, with revenue being the only financial criterion met.SoundHound AI committed to providing additional disclosures in future filings when necessary, in compliance with SEC regulations.

On October 3, 2024, SoundHound AI responded to the SEC's comment regarding its Form 10-K for the fiscal year ended December 31, 2023. The SEC inquired about the company's recovery analysis of incentive-based compensation due to error corrections in financial statements.SoundHound AI clarified that the error corrections involved restatements related to equity line of credit, lender fees, and in-kind dividends. These corrections did not impact financial metrics used for executive compensation, thus no recovery was triggered. The company detailed that its executive compensation included service-based restricted stock awards and non-equity bonuses, with revenue being the only financial criterion met.SoundHound AI committed to providing additional disclosures in future filings when necessary, in compliance with SEC regulations.