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

Altair Engineering's CEO, James Ralph Scapa, sold shares of Class A Common Stock on June 28, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On June 28, 2024, James Ralph Scapa, CEO of Altair Engineering Inc., executed multiple transactions involving Class A Common Stock.
• These transactions included both the acquisition and disposition of shares.
• Scapa acquired 6,500 shares of Class A Common Stock through a conversion of Class B Common Stock.
• He also sold shares at weighted average prices ranging from $97.7684 to $99.5661.
• The sales were conducted under a pre-existing Rule 10b5-1 trading plan established on March 11, 2024.
• The transactions were carried out through both direct holdings and indirect holdings via the James R. Scapa Declaration of Trust dated March 5, 1987, and JRS Investments LLC.
• Following the reported transactions, Scapa directly owns 134,045 shares of Class A Common Stock, which includes 88,194 unvested restricted stock units.
• He also indirectly owns shares through his trust and JRS Investments LLC.
• Scapa also indirectly owns 1,193 shares of Class A Common Stock through his wife, which includes 20 unvested restricted stock units.

Sentiment

Score: 5

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

Industry Context

This filing is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders, potentially creating downward pressure on the stock price, although the 10b5-1 plan is designed to mitigate significant market disruption.

Key Dates