Form 4: Altair Engineering Executive Marraccini Receives Stock Options and Restricted Stock Units

Jeffrey Marraccini, Chief Information Security Officer at Altair Engineering, was granted stock options and restricted stock units on March 17, 2024.

Summary

• Jeffrey Marraccini, Chief Information Security Officer of Altair Engineering Inc., received stock options and restricted stock units on March 17, 2024.
• He was granted 729 Class A Common Stock restricted stock units that vest in four equal annual installments starting March 15, 2025.
• He also received options to purchase 1,822 shares of Class A Common Stock at an exercise price of $79.03, which also vest in four equal annual installments commencing March 15, 2025.
• Following these transactions, Marraccini directly owns 4,663 shares of Class A Common Stock, including 2,971 unvested restricted stock units, and holds options for 1,822 shares.

Sentiment

Score: 7

Explanation: The document itself is neutral, simply reporting a transaction. However, the granting of equity to a key executive can be seen as a positive sign, indicating confidence in the company's future performance and aligning management's interests with shareholders.

Positives

• The grant of stock options and restricted stock units to a key executive like the Chief Information Security Officer suggests an incentive alignment with the company's long-term performance.
• The vesting schedule encourages continued service and contribution from the executive.

Future Outlook

The document does not contain specific forward-looking statements about the company's financial performance or future prospects, but the equity grants suggest a belief in the company's future success.

Industry Context

Equity grants are a common practice in the technology industry to attract, retain, and incentivize key personnel. The size and terms of the grant are likely benchmarked against similar companies in the sector.

Comparison to Industry Standards

• Stock option and RSU grants are standard practice for publicly traded technology companies like Altair Engineering to incentivize executives.
• Companies such as Ansys, Autodesk, and Cadence Design Systems also utilize similar compensation strategies to align executive interests with shareholder value.
• The vesting schedules, typically four years with annual installments, are also consistent with industry norms.

Stakeholder Impact

• Shareholders may view the equity grants as a positive sign, aligning executive interests with long-term value creation.
• Employees may see the grants as a sign of the company's commitment to its leadership team.

Key Dates