Matthew C. Brown - Mar 26, 2025 Form 4 Insider Report for Altair Engineering Inc. (ALTR)

Role
Chief Financial Officer
Signature
/s/ Raoul Maitra, attorney-in-fact for Matthew C. Brown
Stock symbol
ALTR
Transactions as of
Mar 26, 2025
Transactions value $
-$14,304,601
Form type
4
Date filed
3/26/2025, 04:42 PM
Previous filing
Mar 6, 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ALTR Class A Common Stock Disposed to Issuer -$7.47M -66.1K -100% $113.00 0 Mar 26, 2025 Direct F1, F2, F3, F4

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 A Common Stock Option Disposed to Issuer -$2.49M -45K -100% $55.30 0 Mar 26, 2025 Class A Common Stock 45K $57.70 Direct F1, F5, F6, F7
transaction ALTR Class A Common Stock Option Disposed to Issuer -$615K -12K -100% $51.21 0 Mar 26, 2025 Class A Common Stock 12K $61.79 Direct F1, F6, F8, F9
transaction ALTR Class A Common Stock Option Disposed to Issuer -$401K -8K -100% $50.09 0 Mar 26, 2025 Class A Common Stock 8K $62.91 Direct F1, F6, F10, F11
transaction ALTR Class A Common Stock Option Disposed to Issuer -$1.61M -24K -100% $67.09 0 Mar 26, 2025 Class A Common Stock 24K $45.91 Direct F1, F6, F12, F13
transaction ALTR Class A Common Stock Option Disposed to Issuer -$986K -20.6K -100% $47.81 0 Mar 26, 2025 Class A Common Stock 20.6K $65.19 Direct F1, F6, F14, F15
transaction ALTR Class A Common Stock Option Disposed to Issuer -$732K -21.6K -100% $33.97 0 Mar 26, 2025 Class A Common Stock 21.6K $79.03 Direct F1, F6, F16, F17
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Matthew C. Brown is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On March 26, 2025, the Company was acquired by Siemens Industry Software Inc. ("Siemens") pursuant to the merger agreement entered into among the Company, Siemens, and Astra Merger Sub Inc., dated as of October 30, 2024.
F2 Includes 2,500 Class A Common Stock restricted stock units ("RSUs") that are unvested and scheduled to vest on or prior to December 31, 2025, and 36,955 RSUs that are unvested and scheduled to vest on or after January 1, 2026.
F3 Upon the consummation of the merger, each issued and outstanding share of the Company's Class A Common Stock ("Common Stock") was canceled and converted into the right receive $113.00 in cash without interest. Each RSU that was granted under the Company's 2017 Equity Incentive Plan (the "2017 Plan") that was outstanding immediately prior to the consummation of the merger and was scheduled to vest on or before December 31, 2025 was vested, canceled and converted into the right to receive $113.00 in cash without interest.
F4 (continued from footnote 3) Each RSU that was granted under the 2017 Plan that was outstanding immediately prior to the consummation of the merger, and scheduled to vest on or after January 1, 2026 was canceled and converted into the right to receive $113.00 in cash without interest, and will be paid on the last day of the calendar quarter preceding the quarter in which such RSU would have otherwise vested in accordance with the vesting schedule in effect immediately prior to the consummation of the merger, less any applicable withholding taxes, subject to acceleration in certain circumstances.
F5 This option is fully vested.
F6 Each option that was outstanding immediately prior to the consummation of the merger and was scheduled to vest on or before December 31, 2025 was vested, canceled and converted into the right to receive the cash value of the option. Each option that was outstanding immediately prior to the consummation of the merger, and scheduled to vest on or after January 1, 2026 was canceled and converted into a right to receive the cash value of the option, such cash value of the option to be paid on the last day of the calendar quarter preceding the quarter in which such option would have otherwise vested in accordance with the vesting schedule in effect immediately prior to the consummation of the merger, less any applicable withholding taxes, subject to acceleration in certain circumstances.
F7 This option represents an aggregate cash value of $2,488,500.00, representing the difference between the exercise price of the option and $113.00.
F8 Includes 0 shares of Common Stock underlying the options that are unvested and scheduled to vest on or prior to December 31, 2025, and 3,000 shares of Common Stock underlying the options that are unvested and scheduled to vest on or after January 1, 2026.
F9 This option represents an aggregate cash value of $614,520.00, representing the difference between the exercise price of the option and $113.00.
F10 Includes 0 shares of Common Stock underlying the options that are unvested and scheduled to vest on or prior to December 31, 2025, and 2,000 shares of Common Stock underlying the options that are unvested and scheduled to vest on or after January 1, 2026.
F11 This option represents an aggregate cash value of $400,720.00, representing the difference between the exercise price of the option and $113.00.
F12 Includes 12,000 shares of Common Stock underlying the options that are unvested and scheduled to vest on or prior to December 31, 2025, and 0 shares of Common Stock underlying the options that are unvested and scheduled to vest on or after January 1, 2026.
F13 This option represents an aggregate cash value of $1,610,160.00, representing the difference between the exercise price of the option and $113.00.
F14 Includes 0 shares of Common Stock underlying the options that are unvested and scheduled to vest on or prior to December 31, 2025, and 10,312 shares of Common Stock underlying the options that are unvested and scheduled to vest on or after January 1, 2026.
F15 This option represents an aggregate cash value of $986,081.25, representing the difference between the exercise price of the option and $113.00.
F16 Includes 0 shares of Common Stock underlying the options that are unvested and scheduled to vest on or prior to December 31, 2025, and 16,172 shares of Common Stock underlying the options that are unvested and scheduled to vest on or after January 1, 2026.
F17 This option represents an aggregate cash value of $732,495.11, representing the difference between the exercise price of the option and $113.00.