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

Altair Engineering's CEO, James Ralph Scapa, sold 16,095 Class A common shares to cover tax obligations related to vesting restricted stock units.

Summary

• James Ralph Scapa, CEO of Altair Engineering Inc., sold 16,095 Class A common shares on December 3, 2024, at a price of $105.65 per share.
• The sale was executed to satisfy tax withholding obligations associated with the vesting of Class A Common Stock restricted stock units.
• Following the transaction, Mr. Scapa directly owns 117,950 Class A common shares and indirectly owns 1,193 shares through his wife.
• The reported holdings include 88,194 unvested Class A Common Stock restricted stock units held directly and 20 unvested units held indirectly.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across publicly traded companies.
• The sale of 16,095 shares is not unusual for a CEO of a company of Altair's size.
• Many companies use restricted stock units as part of executive compensation packages, leading to similar tax-related sales.

Stakeholder Impact

• The sale of shares by the CEO may have a minor impact on the stock price, but it is not expected to be significant.

Key Dates

Keywords

insider trading, stock sale, Form 4, executive compensation, restricted stock units, tax obligations, Altair Engineering, ALTR