Exhibit 4.14


 


DESCRIPTION OF SECURITIES 


REGISTERED PURSUANT TO SECTION 12 OF
THE 


SECURITIES EXCHANGE ACT OF 1934


 


As of December 31, 2019, Summit Wireless
Technologies, Inc. (the “Company,” “we,” “us” or “our”) has one class of securities
registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”): our common stock,
par value $0.0001 per share (the “Common Stock).


 


The following description of our Common
Stock, certain provisions of our certificate of incorporation, as amended, bylaws and Delaware law are summaries. You should also
refer to certificate of incorporation, as amended, and our bylaws, copies of which can be accessed through hyperlinks to those
documents in the list of exhibits in our Annual Report on Form 10-K for the fiscal year ending December 31, 2019.


 


General


 


Our certificate of incorporation, as amended,
authorizes the issuance of up to 200,000,000 shares of Common Stock, par value $0.0001 per share, and up to 20,000,000 shares of
blank check preferred stock, par value $0.0001 per share. Our board of directors may establish the rights and preferences of the
preferred stock from time to time.


 


Common Stock


 


Voting Rights


 


Each holder of our Common Stock is entitled
to one vote for each share on all matters submitted to a vote of the stockholders, including the election of directors. Under our
bylaws, our stockholders will not have cumulative voting rights. Because of this, the holders of a majority of the Common Stock
entitled to vote in any election of directors will be able elect all of the directors standing for election, if they should so
choose.


 


Dividends


 


Subject
to preferences that may be applicable to any then-outstanding preferred stock, holders of our Common Stock will be entitled to
receive ratably those dividends, if any, as may be declared from time to time by the board of directors out of legally available
funds. The right of holders of our Common Stock to receive dividends is subject to the rights of holders of our Series A 8% Senior
Convertible Preferred Stock, par value $0.0001 per share (the “Series A Preferred Stock”) to received dividends pursuant
to the Certificate of Designations of the Preferences, Rights and Limitations of the Series A 8% Senior Convertible Preferred
Stock (the “Certificate of Designations”).


 


Liquidation


 


In the event of our liquidation, dissolution
or winding up, holders of Common Stock will be entitled to share ratably in the net assets legally available for distribution to
stockholders after the payment of all of our debts and other liabilities and the satisfaction of any liquidation preference granted
to the holders of any then-outstanding preferred stock, including, without limitation, the liquidation preference granted to holders
of our Series A Preferred Stock pursuant to the Certificate of Designations.


 


Rights and Preferences


 


Holders of Common Stock have no preemptive,
conversion or subscription rights and there are no redemption or sinking fund provisions applicable to our Common Stock. The rights,
preferences and privileges of the holders of Common Stock are subject to, and may be adversely affected by, the rights of the holders
of any series of preferred stock that we may designate in the future, including, without limitation, the rights granted to holders
of our Series A Preferred Stock pursuant to the Certificate of Designations.