James R. Scapa - May 16, 2023 Form 4 Insider Report for Altair Engineering Inc. (ALTR)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Raoul Maitra, attorney-in-fact for James R. Scapa
Stock symbol
ALTR
Transactions as of
May 16, 2023
Transactions value $
-$679,430
Form type
4
Date filed
5/17/2023, 02:06 PM
Previous filing
May 15, 2023
Next filing
Jun 7, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ALTR Class A Common Stock Conversion of derivative security $0 +5K $0.00 5K May 16, 2023 By James R. Scapa Declaration of Trust dated March 5, 1987 F3
transaction ALTR Class A Common Stock Sale -$340K -5K -100% $67.94 0 May 16, 2023 By James R. Scapa Declaration of Trust dated March 5, 1987 F3, F4, F5
transaction ALTR Class A Common Stock Conversion of derivative security $0 +5K $0.00 5K May 16, 2023 By JRS Investments LLC F6
transaction ALTR Class A Common Stock Sale -$340K -5K -100% $67.94 0 May 16, 2023 By JRS Investments LLC F4, F6, F7
holding ALTR Class A Common Stock 113K May 16, 2023 Direct F1
holding ALTR Class A Common Stock 1.3K May 16, 2023 By wife F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ALTR Class B Common Stock Conversion of derivative security $0 -5K -0.05% $0.00 10.3M May 16, 2023 Class A Common Stock 5K $0.00 By James R. Scapa Declaration of Trust dated March 5, 1987 F3, F8
transaction ALTR Class B Common Stock Conversion of derivative security $0 -5K -0.07% $0.00 6.72M May 16, 2023 Class A Common Stock 5K $0.00 By JRS Investments LLC F6, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Includes 72,542 Class A Common Stock restricted stock units that are unvested.
F2 Includes 265 Class A Common Stock restricted stock units that are unvested.
F3 Reporting person serves as Trustee. Reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
F4 The sale of the shares of Class A Common Stock were made pursuant to a plan intended to comply with Rule 10b5-1 of the Exchange Act, previously entered into on December 14, 2022.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.48 to $68.34 per share, inclusive. The reporting person undertakes to provide to Altair Engineering Inc., any security holder of Altair Engineering Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.
F6 Reporting person serves as Manager. Reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
F7 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.48 to $68.34 per share, inclusive. The reporting person undertakes to provide to Altair Engineering Inc., any security holder of Altair Engineering Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.
F8 Each share of Class B common stock is immediately convertible, at the option of the shareholder, into one share of Class A common stock and shall automatically convert into Class A common stock upon the occurrence of certain events. Please see Altair Engineering Inc. Registration Statement filed with the Securities and Exchange Commission on Form S-1 (File No. 333-220710) for a description of the conversion rights.