Form 4: Altair Engineering COO Stephanie Buckner Reports Stock and Option Grants

Stephanie Buckner, COO of Altair Engineering, reports the grant of stock options and restricted stock units for herself and restricted stock units for her husband.

Summary

• On March 15, 2024, Stephanie Buckner, the Chief Operating Officer of Altair Engineering Inc., was granted 5,625 Class A Common Stock restricted stock units (RSUs) that vest in four equal annual installments starting March 15, 2025.
• Buckner also received 14,063 Class A Common Stock options, vesting in four equal annual installments commencing March 15, 2025, with an exercise price of $79.03 and expiring on March 15, 2034.
• Her husband was granted 446 Class A Common Stock RSUs, also vesting in four equal annual installments starting March 15, 2025.
• Following these transactions, Buckner directly owns 19,629 shares of Class A Common Stock, including 10,898 unvested RSUs.
• Her husband indirectly owns 7,124 shares of Class A Common Stock, including 2,041 unvested RSUs.
• Buckner also directly owns 14,063 stock options.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices, aligning management interests with shareholders.

Positives

• The grant of stock options and restricted stock units to the COO aligns her interests with those of the shareholders.
• The vesting schedules encourage long-term commitment from the COO.

Industry Context

Stock option and RSU grants are common compensation practices in the tech industry to incentivize and retain key executives.

Comparison to Industry Standards

• Stock option grants are a standard component of executive compensation packages in the technology sector, often used by companies like Autodesk, Ansys, and Dassault Systèmes to align executive incentives with shareholder value.
• The vesting schedule of four years is typical for such grants, mirroring practices at similar companies to encourage long-term commitment.
• The size of the grant should be compared to similar roles at companies of comparable size and market capitalization to determine if it is in line with industry standards.

Stakeholder Impact

• The grants incentivize the COO to improve company performance, potentially benefiting shareholders.
• Employees may view the grants as a positive sign of the company's commitment to its leadership.

Key Dates