Form 4: Altair Engineering Director Teresa Harris Reports Stock Transactions
SEC Form 4 Filing
Director Teresa Harris of Altair Engineering Inc. reports the acquisition and disposition of Class A Common Stock, including transactions made under a Rule 10b5-1 trading plan.
Summary
- On September 3, 2024, Teresa Harris, a director of Altair Engineering Inc., reported transactions involving Class A Common Stock.
- Harris acquired 620 shares of Class A Common Stock through the exercise of stock options at a price of $0.
- Concurrently, Harris disposed of 620 shares of Class A Common Stock at a price of $89.7 per share.
- These transactions were executed under a pre-arranged trading plan intended to comply with Rule 10b5-1 of the Exchange Act, established on November 15, 2023.
- Following these transactions, Harris beneficially owns 21,242 shares of Class A Common Stock, including 2,347 unvested restricted stock units.
- Harris also owns 13,260 stock options.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by a company director. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Future Outlook
The document does not contain any specific forward-looking statements or guidance.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency to investors regarding the trading activities of company directors. It is standard practice for directors to utilize 10b5-1 trading plans.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their insiders.
- Rule 10b5-1 trading plans are commonly used by executives to avoid accusations of insider trading, similar to plans used by executives at companies like Microsoft, Apple, and Google.
Stakeholder Impact
- The transactions may have a minor impact on shareholders by slightly increasing the float of available shares.
Key Dates
| Date | Description |
|---|---|
| 11/15/2023 | Date of establishment of the Rule 10b5-1 trading plan. |
| 09/03/2024 | Date of the reported stock transactions (exercise of options and sale of shares). |
| 09/04/2024 | Date of signature of the Form 4 filing. |
| 11/23/2026 | Expiration date of the stock options. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.