false 0001701732 0001701732 2023-05-31 2023-05-31

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 31, 2023

 

 

Altair Engineering Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-38263   38-2591828

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

1820 E. Big Beaver Road

Troy, Michigan

   48083
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (248) 614-2400

Not Applicable

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading

Symbol(s)

  

Name of each exchange

on which registered

Class A Common Stock $0.0001 par value per share   ALTR   The NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 

Item 8.01

Other Events

As previously announced, in February 2022 the Board of Directors of Altair Engineering Inc. (the “Company”) authorized the repurchase of up to $50.0 million of its outstanding Class A Common Stock. On May 31, 2023, the Company’s Board expanded that authorization from $50.0 million to $75.0 million. After giving effect to that expansion and repurchases made since February 2022, the Company is currently authorized to repurchase approximately $49.1 million of its outstanding Class A Common Stock.

The Company’s stock repurchase program is approved to run through December 2, 2024, but may be suspended for periods or discontinued at any time.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    ALTAIR ENGINEERING INC.
Dated: May 31, 2023     By:  

/s/ Raoul Maitra

    Name:   Raoul Maitra
    Title:   Chief Legal Officer
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