Form 4: Altair Engineering Inc. Acquired by Siemens, Executive Nelson Dias' Holdings Converted to Cash

Following the acquisition of Altair Engineering Inc. by Siemens Industry Software Inc., Chief Revenue Officer Nelson Dias' stock and options were converted to cash, as detailed in a Form 4 filing.

Summary

• Nelson Dias, Chief Revenue Officer of Altair Engineering Inc., filed a Form 4 detailing changes in beneficial ownership.
• The filing reflects the acquisition of Altair by Siemens Industry Software Inc. on March 26, 2025.
• As a result of the merger, Dias' Class A Common Stock and stock options were converted into the right to receive cash.
• Each share of Class A Common Stock was converted into the right to receive $113.00 in cash.
• RSUs scheduled to vest on or before December 31, 2025, were vested, canceled, and converted into the right to receive $113.00 in cash.
• RSUs scheduled to vest after December 31, 2025, were canceled and converted into the right to receive $113.00 in cash, payable on the last day of the calendar quarter preceding the quarter in which they would have vested.
• Options scheduled to vest on or before December 31, 2025, were vested, canceled, and converted into the right to receive the cash value of the option.
• Options scheduled to vest after December 31, 2025, were canceled and converted into the right to receive the cash value of the option, payable on the last day of the calendar quarter preceding the quarter in which they would have vested.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The acquisition provides liquidity to shareholders and option holders, which is generally viewed favorably. The conversion to cash at $113 is a concrete outcome.

Positives

• The acquisition provided a clear cash value for Dias' holdings in Altair.

Future Outlook

The document does not contain forward-looking statements for Altair, as it has been acquired.

Industry Context

The acquisition of Altair by Siemens reflects a trend of consolidation in the software and engineering technology sectors, where larger companies acquire specialized firms to expand their capabilities and market reach.

Comparison to Industry Standards

• Mergers and acquisitions in the tech industry often result in the conversion of stock options and RSUs to cash, aligning with standard practices.
• The $113.00 per share cash conversion is the key metric to compare against other similar acquisitions to assess the value received by Altair's shareholders and employees.

Stakeholder Impact

• Shareholders received $113.00 in cash for each share of Class A Common Stock.
• Employees holding RSUs and stock options received cash payments based on the merger agreement and vesting schedules.

Key Dates

Keywords

Form 4, Siemens, Acquisition, Altair Engineering, Beneficial Ownership, Merger, Stock Options, RSUs, Cash Conversion, Nelson Dias