Michael R. Pyle - Mar 1, 2022 Form 4 Insider Report for PEGASYSTEMS INC (PEGA)

Role
Chief Technology Strategist
Signature
/s/ Jenna L. Burstyn, Attorney-in-Fact for Michael R. Pyle
Stock symbol
PEGA
Transactions as of
Mar 1, 2022
Transactions value $
-$78,676
Form type
4
Date filed
3/3/2022, 05:58 PM
Previous filing
Dec 8, 2021
Next filing
Mar 9, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PEGA Common stock Options Exercise $0 +1.08K +14.64% $0.00 8.49K Mar 2, 2022 Direct F1
transaction PEGA Common stock Tax liability -$31.7K -371 -4.37% $85.40 8.12K Mar 2, 2022 Direct
transaction PEGA Common stock Options Exercise $0 +768 +9.46% $0.00 8.89K Mar 2, 2022 Direct F2
transaction PEGA Common stock Tax liability -$18.9K -221 -2.49% $85.40 8.67K Mar 2, 2022 Direct
transaction PEGA Common stock Options Exercise $0 +1.11K +12.84% $0.00 9.78K Mar 3, 2022 Direct F3
transaction PEGA Common stock Tax liability -$28.1K -327 -3.34% $85.99 9.45K Mar 3, 2022 Direct 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 PEGA Restricted Stock Units Award $0 +5.86K $0.00 5.86K Mar 1, 2022 Common stock 5.86K $0.00 Direct F5, F6, F7
transaction PEGA Restricted Stock Units Award $0 +1.66K $0.00 1.66K Mar 1, 2022 Common stock 1.66K $0.00 Direct F7, F8
transaction PEGA Restricted Stock Units Options Exercise $0 -1.08K -100% $0.00* 0 Mar 2, 2022 Common stock 1.08K $0.00 Direct F1, F5, F7
transaction PEGA Restricted Stock Units Options Exercise $0 -768 -33.33% $0.00 1.54K Mar 2, 2022 Common stock 768 $0.00 Direct F2, F5, F7
transaction PEGA Restricted Stock Units Options Exercise $0 -1.11K -49.96% $0.00 1.12K Mar 3, 2022 Common stock 1.11K $0.00 Direct F3, F5, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents 100% vesting on March 2, 2022. The original grant was 1,084 restricted stock units, which were granted on March 2, 2021. As part of the Company's 2021 Corporate Incentive Compensation Plan (CICP), Mr. Pyle elected to receive half of his annual bonus in RSUs.
F2 Represents a one-third vesting on March 2, 2022. The original grant was 2,304 restricted stock units. The remaining two-thirds will vest in equal installments on March 2, 2023 and March 2, 2024.
F3 Represents a one-third vesting on March 3, 2022. The original grant was 3,341 restricted stock units. The remaining third will vest on March 3, 2023.
F4 Does not include shares of common stock subject to unvested restricted stock units and/or options awards.
F5 Each restricted stock unit represents the right to receive, following vesting, one share of the issuer's common stock.
F6 RSUs will vest 25% on June 1, 2022, with the remaining 75% vesting in equal quarterly installments over the following year.
F7 Once vested, the shares of common stock are not subject to expiration.
F8 Represents election by the individual, as part of the Company's Corporate Incentive Plan (CICP), to receive half of their annual bonus in RSUs, based upon the Company's stock price as of March 1, 2022. All RSUs vest 100% on March 1, 2023, subject to attainment of the CICP performance threshold funding for the year ending December 31, 2022.