Form 4: Altair Engineering Director Teresa Harris Reports Stock Option Exercise and Sale

Director Teresa Harris of Altair Engineering Inc. reports exercising stock options and selling shares under a pre-arranged 10b5-1 plan.

Summary

• On July 9, 2024, Teresa A Harris, a director of Altair Engineering Inc., executed transactions involving the company's Class A Common Stock.
• Harris exercised stock options to acquire 620 shares at a price of $4.52 per share.
• Simultaneously, Harris sold 620 shares of Class A Common Stock at a price of $97.73 per share.
• These transactions were conducted under a pre-existing 10b5-1 trading plan established on November 15, 2023.
• Following these transactions, Harris directly owns 21,242 shares of Class A Common Stock, including 2,347 unvested restricted stock units, and holds options for 14,500 shares.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing insider trading activity, which is neither particularly positive nor negative. The transactions are part of a pre-arranged plan, suggesting no immediate cause for concern.

Industry Context

This filing is a routine disclosure of insider transactions. It is common for executives and directors to have pre-arranged trading plans (Rule 10b5-1) to avoid accusations of trading on inside information.

Comparison to Industry Standards

• Insider trading activity is a common occurrence in publicly traded companies.
• The use of 10b5-1 trading plans is a standard practice to ensure compliance with insider trading regulations.
• The reported transactions are typical for directors who receive stock options as part of their compensation.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the pre-arranged nature of the trades mitigates concerns about insider information being used.

Key Dates