Form 4: Altair Engineering CEO James R. Scapa Executes Stock Sales Under 10b5-1 Plan

James R. Scapa, CEO of Altair Engineering, reports the sale of Class A Common Stock under a pre-arranged 10b5-1 trading plan.

Summary

• On October 28, 2024, James R. Scapa, CEO of Altair Engineering Inc., executed multiple transactions involving Class A Common Stock.
• Scapa acquired 6,500 shares of Class A Common Stock at $0.
• He also sold 3,683 shares at a weighted average price of $102.0806, 2,522 shares at a weighted average price of $103.1924, and 295 shares at a weighted average price of $103.8409.
• These sales were conducted under a previously established Rule 10b5-1 trading plan adopted on March 11, 2024.
• Following these transactions, Scapa directly owns 0 shares of Class A Common Stock and indirectly owns 10,247,610 shares of Class B Common Stock, each convertible to Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing stock transactions by a company insider. It doesn't inherently convey positive or negative sentiment, as it simply reports facts.

Industry Context

Form 4 filings are standard disclosures required by the SEC when company insiders, like CEOs, trade their company's stock. These filings provide transparency to the market regarding insider transactions.

Comparison to Industry Standards

• The use of 10b5-1 trading plans is a common practice among corporate executives to sell company stock while avoiding accusations of insider trading.
• These plans allow insiders to pre-schedule stock sales at times when they are not in possession of material non-public information.
• The details provided in the Form 4, such as the price ranges and number of shares sold, are consistent with standard reporting requirements for insider transactions.

Stakeholder Impact

• The stock sales by the CEO could be perceived differently by stakeholders.
• Some may view it as a routine part of personal financial planning, while others might interpret it as a lack of confidence in the company's future prospects, although the 10b5-1 plan mitigates this concern.

Key Dates