LivePerson Director Dan Fletcher Disposes 18,666 Shares in Merger

What Happened

• Dan Fletcher, a director of LivePerson, reported a disposition to the issuer of 18,666 shares of LivePerson common stock on September 4, 2026. This was not an open‑market sale but a cancellation/conversion under the merger agreement with SoundHound AI.
• Under the Merger Agreement, each LivePerson share was converted into the right to receive 0.4673 shares of SoundHound AI Class A common stock. The 18,666 LPSN shares converted into approximately 8,722.62 SoundHound Class A shares (18,666 × 0.4673). No cash price per LPSN share is reported in the filing.

Key Details

• Transaction date: 2026-09-04 (reported on Form 4 filed 2026-09-04).
• Transaction type: D (Disposition to the issuer) — shares cancelled/converted as part of the mergers described in the filing.
• Conversion ratio (merger consideration): 0.4673 SoundHound AI Class A shares per LivePerson share.
• Resulting Parent shares (approx.): 8,722.62 SoundHound Class A shares.
• The LPSN share count shown (18,666) reflects a 1-for-15 reverse stock split effected October 13, 2025 (so pre-split equivalent would be ~279,990 shares).
• Filing shows no dollar value or market sale — this is a corporate merger conversion, not a market trade.
• Shares owned after the transaction are not specified in the summary data provided.

Context

• This transaction is part of a corporate merger where Lightspeed Merger Subs merged into LivePerson and LivePerson became an indirect wholly owned subsidiary of SoundHound AI; each LivePerson share was cancelled for Parent stock. Such cancellations/conversions are routine in M&A and do not reflect an insider buying or selling on the open market.
• For retail investors, note this is not a liquidity event (open‑market sale) by the director; it reflects the mechanics of the deal and the securities received (or payable) under the merger terms.