Form 4: JRS Investments LLC Executes Stock Sales and Conversions in Altair Engineering Inc. (ALTR)

JRS Investments LLC, a 10% owner of Altair Engineering Inc., reports the sale of Class A Common Stock and conversion of Class B Common Stock into Class A Common Stock on August 28, 2024.

Summary

• On August 28, 2024, JRS Investments LLC sold 5,010 shares of Class A Common Stock at a weighted average price of $88.8893.
• An additional 1,490 shares of Class A Common Stock were sold on the same day at a weighted average price of $89.5327.
• These sales were executed under a pre-arranged 10b5-1 trading plan adopted on March 11, 2024.
• Also on August 28, 2024, JRS Investments LLC converted 6,500 shares of Class B Common Stock into Class A Common Stock.
• Following these transactions, JRS Investments LLC directly owns 1,490 shares of Class A Common Stock and indirectly owns 6,646,182 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports transactions. The sales were pre-planned under a 10b5-1 plan, mitigating concerns about negative insider sentiment.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders (officers, directors, or those holding more than 10% of a company's shares) trade in their company's stock. These filings provide transparency to the market regarding insider activity.

Stakeholder Impact

• The stock sales by JRS Investments LLC could potentially exert downward pressure on the stock price in the short term.
• However, the existence of a pre-arranged trading plan suggests that these sales are not based on any inside information or negative outlook.

Key Dates