Form 4: Altair Engineering CFO Matthew Brown Acquires Shares Through Employee Stock Purchase Plan

Altair Engineering's Chief Financial Officer, Matthew Brown, acquired 73 shares of Class A Common Stock through the company's Employee Stock Purchase Plan.

Summary

• Matthew Brown, the Chief Financial Officer of Altair Engineering Inc., acquired 73 shares of Class A Common Stock on January 14, 2025.
• The shares were purchased at a price of $82.42 each.
• This transaction was part of the company's 2021 Employee Stock Purchase Plan and is exempt under Rule 16b-3(c).
• Following the transaction, Mr. Brown beneficially owns 55,592 shares of Class A Common Stock, which includes 29,812 unvested restricted stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction, indicating a neutral to slightly positive sentiment due to insider participation in the company's stock purchase plan.

Positives

• The purchase demonstrates the CFO's confidence in the company's future prospects.
• The transaction was part of a pre-existing employee stock purchase plan.

Industry Context

This is a routine transaction for a company with an employee stock purchase plan. It is common for executives to participate in such plans.

Comparison to Industry Standards

• Employee stock purchase plans are a common practice among publicly traded companies, including technology firms like Altair Engineering.
• The level of participation and the number of shares acquired by executives are generally consistent with industry norms for similar-sized companies.
• Companies like Autodesk and Ansys also have similar plans in place for their employees.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it shows management's confidence in the company.
• The employee stock purchase plan benefits employees by allowing them to acquire company stock.

Key Dates

Keywords

Altair Engineering, Matthew Brown, Employee Stock Purchase Plan, Class A Common Stock, SEC Form 4, insider trading, stock acquisition