Form 4: Altair Engineering Executive Brian Gayle Reports Stock and Option Grants

Brian Gayle, Chief Accounting Officer of Altair Engineering, reports the grant of stock options and restricted stock units.

Summary

• Brian Gayle, Chief Accounting Officer of Altair Engineering Inc., reported changes in beneficial ownership on March 19, 2024.
• On March 17, 2024, Gayle was granted 1,281 Class A Common Stock restricted stock units, vesting in four equal annual installments starting March 15, 2025.
• Gayle also received 3,203 Class A Common Stock options on March 17, 2024, with an exercise price of $79.03; these options also vest in four equal annual installments commencing March 15, 2025.
• Following these transactions, Gayle beneficially owns 19,369 shares of Class A Common Stock, including 4,552 unvested restricted stock units, and 3,203 stock options.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects standard executive compensation practices, which are generally viewed favorably as they align management interests with shareholders.

Positives

• The grant of stock options and restricted stock units to a key executive like the Chief Accounting Officer can be seen as an incentive to align their interests with the company's long-term performance.

Industry Context

Stock grants and options are common forms of executive compensation in the technology industry, used to attract and retain talent and align their interests with shareholder value.

Comparison to Industry Standards

• Executive compensation packages, including stock options and restricted stock units, are standard practice among publicly traded technology companies like Altair Engineering.
• Comparable companies such as Ansys, Autodesk, and Dassault Systèmes also utilize similar equity-based compensation strategies to incentivize their executives.
• The vesting schedules and exercise prices are generally aligned with industry norms to ensure long-term commitment and performance.

Stakeholder Impact

• Shareholders: The grants align executive interests with shareholder value.
• Employees: The grants are part of the overall compensation structure.

Key Dates