Form 4: Altair Engineering CEO Executes Stock Transactions Under 10b5-1 Plan

Altair Engineering's CEO, James R. Scapa, engaged in multiple transactions involving Class A and Class B common stock, including sales and acquisitions, under a pre-arranged 10b5-1 trading plan.

Summary

• James R. Scapa, CEO of Altair Engineering, executed several transactions involving the company's Class A and Class B common stock on November 29, 2024.
• These transactions included both acquisitions and disposals of shares, some of which were conducted under a pre-arranged 10b5-1 trading plan.
• The sales of Class A common stock were executed at a weighted average price of $105.6904 per share, with individual transactions ranging from $105.50 to $105.80.
• The transactions involved shares held directly and indirectly through the James R. Scapa Declaration of Trust and JRS Investments LLC.
• The report also details the conversion rights of Class B common stock into Class A common stock.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing insider stock transactions, which is neither positive nor negative in itself. The use of a 10b5-1 plan suggests a planned and orderly approach to stock sales.

Management Comments

• Reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.

Industry Context

This filing is a routine disclosure of insider trading activity, which is common for publicly traded companies. The use of a 10b5-1 plan is a standard practice to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a common practice among executives at publicly traded companies, such as those at Autodesk, Ansys, and Dassault Systemes, to manage their stock transactions while avoiding potential insider trading issues.
• The reported transactions are typical for executives who hold significant equity in their companies and are similar to filings made by other tech company leaders.
• The price range of $105.50 to $105.80 per share is within the expected trading range for a company like Altair, and the volume of shares traded is not unusual for insider transactions.

Stakeholder Impact

• The transactions are unlikely to have a significant impact on stakeholders, as they are part of a pre-arranged trading plan and do not indicate a change in the company's fundamentals.

Key Dates

Keywords

insider trading, stock transactions, Form 4, 10b5-1 plan, Class A common stock, Class B common stock, Altair Engineering, James R. Scapa, SEC filing