Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | ALTAIR ENGINEERING INC. |
Entity Central Index Key | 0001701732 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Pay Versus Performance Table In accordance with rules adopted by the SEC pursuant to the Dodd-Frank Ac Pay Versus Performance” (a) (b) (c) (d) (e) (f) (g) (h) (i) Fiscal year ended Summary Compensation (2) Average (1) Average (2) Value of Value of (3) Net Adjusted (3) 2022 5,142,001 812,028 1,614,787 537,488 126.57 132.79 (43,429,000 ) 108,600,000 2021 3,758,011 6,003,210 1,154,249 1,675,742 215.26 206.76 (8,794,000 ) 85,253,000 2020 2,021,188 5,085,599 1,169,176 1,671,132 162.00 149.98 (10,500,000 ) 57,288,000 (1) As reflected elsewhere herein, our Non-PEO NEOs for 2022 were Matthew Brown, Gilma Saravia, Mahalingam Srikanth and Ravi Kunju. Our Non-PEO NEOs for 2021 were Matthew Brown, Howard Morof (our former Chief Financial Officer who ceased to be employed on March 6, 2021), Gilma Saravia, Brett Chouinard and Uwe Schramm. Our Non-PEO NEOs for 2020 were Howard Morof, Gilma Saravia, Amy Messano and Uwe Schramm. (2) For each Covered Year, the values included in this column for the compensation actually paid to our PEO and the average compensation actually paid to our non-PEO NEOs reflect the following adjustments to the values included in column (b) and column (d), respectively: PEO 2022 2021 2020 Summary Compensation Table Total for PEO (column (b)) 5,142,001 3,758,011 2,021,188 - SCT “Stock Awards” column value (1,704,403 ) (1,238,600 ) (482,400 ) - SCT “Option Awards” column value (2,007,665 ) (895,496 ) (409,155 ) + year-end fair value of equity awards granted in the Covered Year that are outstanding and unvested as of the Covered Year-end 2,242,918 2,898,155 2,245,183 +/- year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the Covered Year-end (2,255,672 ) 1,231,180 1,489,083 + vesting date fair value of equity awards granted and vested in the Covered Year end — — — +/- year-over-year change in fair value of equity awards granted in prior years that vested in the Covered Year (605,150 ) 267,960 222,700 - fair value as of prior-year end of equity awards granted in prior years that failed to vest in the Covered Year — — — Compensation Actually Paid to PEO (column (c)) 812,028 6,003,210 5,085,599 Average of Non-PEO NEOs 2022 2021 2020 Summary Compensation Table Total for PEO (column (b)) 1,614,787 1,154,249 1,169,176 - SCT “Stock Awards” column value (400,257 ) (413,346 ) (127,704 ) - SCT “Option Awards” column value (747,431 ) (313,961 ) (650,448 ) + year-end fair value of equity awards granted in the Covered Year that are outstanding and unvested as of the Covered Year-end 936,576 1,103,103 1,111,867 +/- year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the Covered Year-end (767,594 ) 529,204 145,957 + vesting date fair value of equity awards granted and vested in the Covered Year end — 204,058 — +/- year-over-year change in fair value of equity awards granted in prior years that vested in the Covered Year (98,592 ) 44,225 22,283 - fair value as of prior-year end of equity awards granted in prior years that failed to vest in the Covered Year — (631,789 ) — Compensation Actually Paid to PEO (column (c)) 537,488 1,675,742 1,671,132 (3) The Peer Group TSR set forth in this table utilizes the Nasdaq Computer Index (assuming reinvestment of all dividends), which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K, included in our Annual Report on Form 10-K for the year ended December 31, 2022. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in our company and in the Nasdaq Computer Index and assumes reinvestment of all dividends. Historical stock performance is not indicative of future stock performance. (4) We have identified Adjusted EBITDA as our Company Selected Measure. Adjusted EBITDA is a Non-GAAP financial measure. For our company, Adjusted EBITDA represents net income adjusted for income tax expense, interest expense, interest income and other, depreciation and amortization, stock-based compensation expense, restructuring charges, asset impairment charges and other special items identified by management. A reconciliation of our 2022 Adjusted EBITDA to net income (loss), the most comparable GAAP financial measure, is presented in Appendix A to this proxy statement. Identifying a Company Selected Measure is a matter of opinion. Other companies, including our peer companies, may utilize different measures as a basis for compensation or may utilize similar measures that are calculated in a manner that is different from the manner in which we calculate that measure. We may change the Company Selected Measure from year to year, depending upon a number of factors relating to our business. | ||
Company Selected Measure Name | Adjusted EBITDA | ||
Named Executive Officers, Footnote [Text Block] | As reflected elsewhere herein, our Non-PEO NEOs for 2022 were Matthew Brown, Gilma Saravia, Mahalingam Srikanth and Ravi Kunju. Our Non-PEO NEOs for 2021 were Matthew Brown, Howard Morof (our former Chief Financial Officer who ceased to be employed on March 6, 2021), Gilma Saravia, Brett Chouinard and Uwe Schramm. Our Non-PEO NEOs for 2020 were Howard Morof, Gilma Saravia, Amy Messano and Uwe Schramm. | ||
Peer Group Issuers, Footnote [Text Block] | The Peer Group TSR set forth in this table utilizes the Nasdaq Computer Index (assuming reinvestment of all dividends), which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K, included in our Annual Report on Form 10-K for the year ended December 31, 2022. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in our company and in the Nasdaq Computer Index and assumes reinvestment of all dividends. Historical stock performance is not indicative of future stock performance. | ||
PEO Total Compensation Amount | $ 5,142,001 | $ 3,758,011 | $ 2,021,188 |
PEO Actually Paid Compensation Amount | $ 812,028 | 6,003,210 | 5,085,599 |
Adjustment To PEO Compensation, Footnote [Text Block] | PEO 2022 2021 2020 Summary Compensation Table Total for PEO (column (b)) 5,142,001 3,758,011 2,021,188 - SCT “Stock Awards” column value (1,704,403 ) (1,238,600 ) (482,400 ) - SCT “Option Awards” column value (2,007,665 ) (895,496 ) (409,155 ) + year-end fair value of equity awards granted in the Covered Year that are outstanding and unvested as of the Covered Year-end 2,242,918 2,898,155 2,245,183 +/- year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the Covered Year-end (2,255,672 ) 1,231,180 1,489,083 + vesting date fair value of equity awards granted and vested in the Covered Year end — — — +/- year-over-year change in fair value of equity awards granted in prior years that vested in the Covered Year (605,150 ) 267,960 222,700 - fair value as of prior-year end of equity awards granted in prior years that failed to vest in the Covered Year — — — Compensation Actually Paid to PEO (column (c)) 812,028 6,003,210 5,085,599 | ||
Non-PEO NEO Average Total Compensation Amount | $ 1,614,787 | 1,154,249 | 1,169,176 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 537,488 | 1,675,742 | 1,671,132 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | Average of Non-PEO NEOs 2022 2021 2020 Summary Compensation Table Total for PEO (column (b)) 1,614,787 1,154,249 1,169,176 - SCT “Stock Awards” column value (400,257 ) (413,346 ) (127,704 ) - SCT “Option Awards” column value (747,431 ) (313,961 ) (650,448 ) + year-end fair value of equity awards granted in the Covered Year that are outstanding and unvested as of the Covered Year-end 936,576 1,103,103 1,111,867 +/- year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the Covered Year-end (767,594 ) 529,204 145,957 + vesting date fair value of equity awards granted and vested in the Covered Year end — 204,058 — +/- year-over-year change in fair value of equity awards granted in prior years that vested in the Covered Year (98,592 ) 44,225 22,283 - fair value as of prior-year end of equity awards granted in prior years that failed to vest in the Covered Year — (631,789 ) — Compensation Actually Paid to PEO (column (c)) 537,488 1,675,742 1,671,132 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Relationship between Pay and TSR | ||
Compensation Actually Paid vs. Net Income [Text Block] | Relationship between Pay and Net Loss | ||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | Relationship between Pay and Adjusted EBITDA | ||
Total Shareholder Return Vs Peer Group [Text Block] | Relationship between Pay and TSR | ||
Tabular List [Table Text Block] | Tabular List The following table sets forth the sole financial performance measure we used Adjusted EBITDA | ||
Total Shareholder Return Amount | $ 126.57 | 215.26 | 162 |
Peer Group Total Shareholder Return Amount | 132.79 | 206.76 | 149.98 |
Net Income (Loss) | $ (43,429,000) | $ (8,794,000) | $ (10,500,000) |
Company Selected Measure Amount | 108,600,000 | 85,253,000 | 57,288,000 |
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted EBITDA | ||
Non-GAAP Measure Description [Text Block] | We have identified Adjusted EBITDA as our Company Selected Measure. Adjusted EBITDA is a Non-GAAP financial measure. For our company, Adjusted EBITDA represents net income adjusted for income tax expense, interest expense, interest income and other, depreciation and amortization, stock-based compensation expense, restructuring charges, asset impairment charges and other special items identified by management. A reconciliation of our 2022 Adjusted EBITDA to net income (loss), the most comparable GAAP financial measure, is presented in Appendix A to this proxy statement. Identifying a Company Selected Measure is a matter of opinion. Other companies, including our peer companies, may utilize different measures as a basis for compensation or may utilize similar measures that are calculated in a manner that is different from the manner in which we calculate that measure. We may change the Company Selected Measure from year to year, depending upon a number of factors relating to our business. | ||
PEO [Member] | Stock Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (1,704,403) | $ (1,238,600) | $ (482,400) |
PEO [Member] | Option Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (2,007,665) | (895,496) | (409,155) |
PEO [Member] | Fair Value of Equity Awards Granted in the Covered Year that are Outstanding and Unvested as of the Covered Year end [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 2,242,918 | 2,898,155 | 2,245,183 |
PEO [Member] | Change in Fair Value of Equity Awards Granted in Prior Years that are Outstanding and Unvested as of the Covered Year end [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (2,255,672) | 1,231,180 | 1,489,083 |
PEO [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in the Covered Year end [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Covered Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (605,150) | 267,960 | 222,700 |
PEO [Member] | Fair Value as of Prior Year end of Equity Awards Granted in Prior Years that Failed to Vest in the Covered Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
Non-PEO NEO [Member] | Stock Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (400,257) | (413,346) | (127,704) |
Non-PEO NEO [Member] | Option Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (747,431) | (313,961) | (650,448) |
Non-PEO NEO [Member] | Fair Value of Equity Awards Granted in the Covered Year that are Outstanding and Unvested as of the Covered Year end [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 936,576 | 1,103,103 | 1,111,867 |
Non-PEO NEO [Member] | Change in Fair Value of Equity Awards Granted in Prior Years that are Outstanding and Unvested as of the Covered Year end [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (767,594) | 529,204 | 145,957 |
Non-PEO NEO [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in the Covered Year end [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 204,058 | 0 |
Non-PEO NEO [Member] | Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Covered Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (98,592) | 44,225 | 22,283 |
Non-PEO NEO [Member] | Fair Value as of Prior Year end of Equity Awards Granted in Prior Years that Failed to Vest in the Covered Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 0 | $ (631,789) | $ 0 |