Form 4: Altair Engineering Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Jeffrey Marraccini, Chief Information Security Officer of Altair Engineering, sold shares of Class A Common Stock to cover tax obligations related to vesting restricted stock units.
Summary
- On May 8, 2024, Jeffrey Marraccini, the Chief Information Security Officer of Altair Engineering Inc. (ALTR), sold 23 shares of Class A Common Stock.
- The sale was executed at a price of $84.38 per share.
- This transaction was to satisfy tax withholding obligations related to the vesting of Class A Common Stock restricted stock units.
- Following the transaction, Marraccini beneficially owns 4,640 shares, which includes 2,971 unvested Class A Common Stock restricted stock units.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reflects a routine transaction for tax purposes and doesn't indicate any significant positive or negative outlook for the company.
Industry Context
This is a routine transaction where an executive sells shares to cover tax obligations arising from the vesting of stock awards. It's a common practice and doesn't necessarily indicate a change in the executive's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 05/08/2024 | Date of the stock sale transaction. |
| 05/10/2024 | Date of signature on the SEC Form 4 filing. |
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.