Form 4: Altair Engineering Chief Marketing Officer Reports Acquisition by Siemens, Conversion of Stock and Options to Cash
SEC Form 4
Amy Messano, Chief Marketing Officer of Altair Engineering, reports the conversion of her stock and options to cash following the acquisition of the company by Siemens Industry Software Inc.
Summary
- Amy Messano, Chief Marketing Officer of Altair Engineering Inc., filed a Form 4 on March 26, 2025, reporting changes in beneficial ownership of securities.
- The filing details transactions related to the acquisition of Altair by Siemens Industry Software Inc. on March 26, 2025.
- As a result of the merger, each share of Altair's Class A Common Stock was converted into the right to receive $113.00 in cash.
- Outstanding restricted stock units (RSUs) and stock options were also converted into the right to receive cash, with vesting schedules impacting the timing of payments.
- Messano's holdings, including options with various exercise prices and expiration dates, were converted to cash based on the difference between the exercise price and the $113.00 acquisition price.
Sentiment
Score: 7
Explanation: The document reflects a completed acquisition, which is generally a positive event for shareholders who receive a cash payout. The sentiment is neutral to positive as it represents the culmination of a deal.
Future Outlook
The document does not contain forward-looking statements regarding the future outlook of the company, as it focuses on the completion of the acquisition by Siemens.
Industry Context
The acquisition of Altair Engineering by Siemens reflects a trend of consolidation in the software industry, where larger companies acquire specialized firms to expand their product offerings and market reach. This acquisition allows Siemens to integrate Altair's simulation and optimization technologies into its existing portfolio.
Comparison to Industry Standards
- Acquisitions in the software industry often involve a premium paid over the target company's market price.
- The $113 per share acquisition price represents a premium for Altair shareholders.
- Comparable acquisitions in the engineering software space include [hypothetical example] Autodesk's acquisition of [hypothetical company] for [hypothetical premium] and Ansys' acquisition of [hypothetical company] for [hypothetical premium].
- These transactions typically aim to enhance the acquirer's capabilities and market position.
Stakeholder Impact
- Shareholders received $113.00 in cash for each share of Class A Common Stock.
- Employees with RSUs and stock options will receive cash payments based on vesting schedules.
- The acquisition by Siemens may lead to changes in the company's operations and strategy.
Key Dates
| Date | Description |
|---|---|
| October 30, 2024 | Date of the merger agreement between Altair, Siemens, and Astra Merger Sub Inc. |
| March 26, 2025 | Date of the acquisition of Altair Engineering by Siemens Industry Software Inc. and the transaction date for the reported changes in beneficial ownership. |
| June 02, 2030 | Expiration date of one of the Class A Common Stock Option grants. |
| December 02, 2030 | Expiration date of one of the Class A Common Stock Option grants. |
| March 15, 2031 | Expiration date of one of the Class A Common Stock Option grants. |
| February 15, 2032 | Expiration date of one of the Class A Common Stock Option grants. |
| December 15, 2032 | Expiration date of one of the Class A Common Stock Option grants. |
| March 02, 2033 | Expiration date of one of the Class A Common Stock Option grants. |
| March 15, 2034 | Expiration date of one of the Class A Common Stock Option grants. |
Keywords
Form 4, Altair Engineering, Siemens, Acquisition, Merger, Beneficial Ownership, Stock Options, RSUs, Amy Messano, ALTR
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