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

Altair Engineering's Chief Financial Officer, Matthew Charles Brown, sold 1,048 shares of Class A Common Stock to cover tax obligations related to vesting restricted stock units.

Summary

• Matthew Charles Brown, the Chief Financial Officer of Altair Engineering Inc., sold 1,048 shares of Class A Common Stock on December 23, 2024.
• The sale was executed at a price of $108.9 per share.
• This transaction was to satisfy tax withholding obligations associated with the vesting of restricted stock units.
• Following the transaction, Mr. Brown directly owns 55,519 shares of Class A Common Stock, which includes 36,062 unvested restricted stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation. It is not indicative of any positive or negative sentiment towards the company's performance or future prospects.

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 number of shares sold is relatively small compared to the total holdings of the executive, which is typical for these types of transactions.
• Similar transactions are regularly reported by executives at companies like Autodesk, Ansys, and Dassault Systemes, which are competitors in the engineering software space.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.
• The sale does not indicate any change in the executive's confidence in the company.

Key Dates

Keywords

Altair Engineering, ALTR, Matthew Charles Brown, CFO, stock sale, insider trading, Form 4, restricted stock units, tax withholding