Form 4: Altair Engineering Inc. Executive James R. Scapa Executes Stock Transactions
SEC Form 4
James R. Scapa, a Director and 10% Owner of Altair Engineering Inc., reports the acquisition and disposition of Class A Common Stock and conversion of Class B Common Stock on March 18, 2024.
Summary
- On March 18, 2024, James R. Scapa, a Director and 10% owner of Altair Engineering Inc., engaged in multiple transactions involving the company's stock.
- These transactions included the acquisition of 5,000 shares of Class A Common Stock at $0 per share, the sale of 500 shares at a weighted average price of $79.8677, and the sale of 4,500 shares at a weighted average price of $80.8396.
- These sales were executed under a pre-arranged 10b5-1 trading plan established on December 14, 2022.
- Additionally, 5,000 shares of Class B Common Stock were converted to Class A Common Stock.
- Following these transactions, Scapa directly owns 0 shares of Class A Common Stock and 10,286,610 shares of Class B Common Stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency to investors regarding the buying and selling activities of company executives and major shareholders. It is common practice for executives to utilize 10b5-1 trading plans to sell shares over time to avoid accusations of insider trading.
Stakeholder Impact
- Shareholders are informed about the transactions of a major shareholder, which can influence market perception.
- The transactions may have a minor impact on stock liquidity.
Key Dates
| Date | Description |
|---|---|
| 1987-03-05 | Date of James R. Scapa Declaration of Trust |
| 2022-12-14 | Date of establishment of Rule 10b5-1 trading plan |
| 2024-03-18 | Date of stock transactions (acquisition, sales, and conversion) |
| 2024-03-19 | Date of signature for the Form 4 filing |
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