Form 4: Altair Engineering Executive Brian Gayle Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Brian Gayle, Chief Accounting Officer of Altair Engineering Inc., sold 173 shares of Class A Common Stock on May 8, 2024, to satisfy tax withholding obligations related to vesting restricted stock units.
Summary
- On May 8, 2024, Brian Gayle, the Chief Accounting Officer of Altair Engineering Inc., sold 173 shares of Class A Common Stock.
- The sale was executed at a weighted average price of $84.3764 per share, with individual transactions ranging from $84.14 to $84.38.
- This transaction was to cover tax withholding obligations associated with the vesting of Class A Common Stock restricted stock units.
- Following the transaction, Gayle directly owns 19,196 shares, which includes 4,552 unvested Class A Common Stock restricted stock units.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (sale of shares for tax obligations) by a company executive, which is neither particularly positive nor negative.
Industry Context
Sales of shares by company executives are a normal part of corporate governance. Often these sales are to cover tax obligations.
Stakeholder Impact
- The sale of shares by an executive can have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased supply, but this is usually temporary and minimal.
Key Dates
| Date | Description |
|---|---|
| 05/08/2024 | Date of the transaction (sale of shares). |
| 05/10/2024 | Date of signature on the SEC Form 4. |
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