Form 4: Altair Engineering Insider Filing: Director Christ Reports Share Conversion Following Siemens Acquisition

Director George J. Christ reports the conversion of Class A and Class B Common Stock to cash following the acquisition of Altair Engineering Inc. by Siemens Industry Software Inc.

Summary

• On March 26, 2025, Altair Engineering Inc. was acquired by Siemens Industry Software Inc.
• The transaction involved the conversion of Class A and Class B Common Stock into cash at a rate of $113.00 per share.
• George J. Christ, a director of Altair, reported the conversion of his directly and indirectly held shares.
• This included the conversion of 187,475 Class A shares held indirectly by The Dana Christ Irrevocable Trust, 187,475 Class A shares held indirectly by The Lauren Christ Irrevocable Trust, and 300,000 Class A shares held indirectly by GC Investments.
• Additionally, 4,044,004 Class B shares held indirectly by GC Investments and 4,481,778 Class B shares held indirectly by Christ Revocable Trust were converted.
• Christ disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as the acquisition provides a clear cash payout for shareholders. The filing itself is a standard reporting requirement following a significant corporate event.

Positives

• The acquisition by Siemens provided a cash payout of $113.00 per share for Altair Engineering Inc. shareholders.

Future Outlook

The document does not contain specific forward-looking statements beyond the completion of the acquisition.

Industry Context

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

Comparison to Industry Standards

• Acquisitions in the software industry often involve a premium paid to shareholders, as seen in the $113 per share payout for Altair shareholders.
• Comparable transactions include Siemens' previous acquisitions in the industrial software space, such as Mentor Graphics, which aimed to bolster its electronic design automation (EDA) capabilities.
• The valuation of Altair in this acquisition would be compared to other engineering software companies based on metrics like revenue multiples and growth rates.

Stakeholder Impact

• Shareholders received $113 per share in cash.
• Employees may experience changes as a result of the acquisition by Siemens.
• Customers may see changes in product offerings and support as Siemens integrates Altair's technology.

Key Dates

Keywords

Altair Engineering, Siemens, Acquisition, Merger, Form 4, Insider Trading, George J. Christ, Share Conversion, Class A Common Stock, Class B Common Stock