Form 4: Altair Engineering Inc. Executive Raoul Maitra Reports Stock and Option Grants

Raoul Maitra, Chief Legal Officer of Altair Engineering Inc., reports the grant of stock options and restricted stock units.

Summary

• On March 15, 2024, Raoul Maitra, Chief Legal Officer of Altair Engineering Inc., was granted 3,500 Class A Common Stock restricted stock units.
• These restricted stock units vest in four equal annual installments starting March 15, 2025.
• Maitra also received options to purchase 8,750 shares of Class A Common Stock at an exercise price of $79.03 on the same date.
• These options also vest in four equal annual installments commencing March 15, 2025.
• Following these transactions, Maitra beneficially owns 28,729 shares of Class A Common Stock, including 7,622 unvested restricted stock units, and options to purchase 8,750 shares.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects standard executive compensation practices, which are generally viewed favorably as aligning management interests with shareholders.

Positives

• The grant of stock options and restricted stock units aligns the executive's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the executive.

Industry Context

Stock grants and options are common forms of executive compensation in the technology industry, used to incentivize performance and retain key personnel.

Comparison to Industry Standards

• Executive compensation packages, including stock options and restricted stock units, are standard practice among publicly traded technology companies like Altair Engineering.
• Companies such as Ansys, Autodesk, and Dassault Systèmes also utilize similar equity-based compensation to align executive incentives with shareholder value.
• The vesting schedules, typically spanning 3-4 years, are also consistent with industry norms to ensure long-term commitment.

Stakeholder Impact

• The stock and option grants could potentially increase shareholder value if the executive's performance leads to company growth.
• Employees may view the grants positively as a sign of the company's commitment to its leadership.

Key Dates