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

James Scapa, CEO of Altair Engineering, sold shares of Class A Common Stock on March 13, 2024, to satisfy tax withholding obligations related to vesting restricted stock units.

Summary

• On March 13, 2024, James Ralph Scapa, the CEO of Altair Engineering Inc., sold 1,686 shares of Class A Common Stock at a weighted average price of $81.6594.
• Additionally, 93 shares were sold at $81.66.
• These transactions were executed to cover tax withholding obligations associated with the vesting of Class A Common Stock restricted stock units.
• Following the reported transactions, Scapa directly owns 98,605 shares and indirectly owns 1,202 shares.
• The directly owned amount includes 59,042 unvested Class A Common Stock restricted stock units, and the indirectly owned amount includes 41 unvested Class A Common Stock restricted stock units.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports stock sales for tax purposes, a routine event.

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 something investors often monitor.

Stakeholder Impact

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

Key Dates