Form 4: Altair Engineering CEO James Scapa Sells Shares to Cover Tax Obligations

Altair Engineering's CEO, James Scapa, sold shares of Class A Common Stock on May 8, 2024, to satisfy tax withholding obligations related to vesting restricted stock units.

Summary

• On May 8, 2024, James Ralph Scapa, CEO of Altair Engineering Inc., sold 5,560 shares of Class A Common Stock at a weighted average price of $84.3736.
• The shares were sold in multiple transactions with prices ranging from $83.64 to $84.38 per share.
• The sale was to cover tax withholding obligations related to the vesting of Class A Common Stock restricted stock units.
• Following the transaction, Scapa directly owns 134,045 shares of Class A Common Stock, which includes 89,292 unvested restricted stock units.
• Additionally, Scapa indirectly owns 1,193 shares through his wife, which includes 20 unvested restricted stock units.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to an executive stock sale for tax purposes. It doesn't convey strong positive or negative sentiment.

Industry Context

Executive stock sales are a common occurrence, often related to compensation and tax planning. The sale itself doesn't necessarily indicate a negative outlook for the company, but it's important to monitor insider transactions in aggregate to gauge management's sentiment.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units that vest over time.
• Sales to cover tax obligations upon vesting are a standard practice among executives at publicly traded companies.
• Comparing Scapa's transactions to those of executives at similar engineering software companies (e.g., Ansys, Autodesk) would provide a better benchmark.

Stakeholder Impact

• The stock sale could have a minor, temporary impact on the stock price, but is unlikely to significantly affect long-term shareholders.
• The transaction does not directly impact employees, customers, suppliers, or creditors.

Key Dates