John Gerard Higgins - Mar 1, 2022 Form 4 Insider Report for PEGASYSTEMS INC (PEGA)

Role
Chief, Client &Partner Success
Signature
s/ Jenna L. Burstyn, Attorney-in-Fact for John Gerard Higgins
Stock symbol
PEGA
Transactions as of
Mar 1, 2022
Transactions value $
-$40,424
Form type
4
Date filed
3/8/2022, 05:56 PM
Previous filing
Mar 8, 2022
Next filing
Jun 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PEGA Common stock Options Exercise $0 +461 +57.99% $0.00 1.26K Mar 1, 2022 Direct F1
transaction PEGA Common stock Tax liability -$22.5K -258 -20.54% $87.12 998 Mar 1, 2022 Direct
transaction PEGA Common stock Options Exercise $0 +368 +36.87% $0.00 1.37K Mar 1, 2022 Direct F2
transaction PEGA Common stock Tax liability -$17.9K -206 -15.08% $87.12 1.16K Mar 1, 2022 Direct F3

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 +1.29K $0.00 1.29K Mar 1, 2022 Common stock 1.29K $0.00 Direct F4, F5, F6
transaction PEGA Restricted Stock Units Award $0 +10.3K $0.00 10.3K Mar 1, 2022 Common stock 10.3K $0.00 Direct F4, F6, F7
transaction PEGA Stock Options Award $0 +32.3K $0.00 32.3K Mar 1, 2022 Common stock 32.3K $85.40 Direct F8
transaction PEGA Restricted Stock Units Options Exercise $0 -461 -5.89% $0.00 7.36K Mar 1, 2022 Common stock 461 $0.00 Direct F1, F4, F6
transaction PEGA Restricted Stock Units Options Exercise $0 -368 -19.98% $0.00 1.47K Mar 1, 2022 Common stock 368 $0.00 Direct F2, F4, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents a 5% vesting on March 1, 2022. The original grant was 9,207 restricted stock units with 5% vesting on June 1, 2021, and the remaining 95% vesting in 5% quarterly installments.
F2 Represents a 20% vesting on March 1, 2022. The original grant was 1,842 restricted stock units, with the remaining 80% will vest in 5% equal quarterly installments over the remaining four years.
F3 Does not include shares of common stock subject to unvested restricted stock units and/or options awards.
F4 Each restricted stock unit represents the right to receive, following vesting, one share of the issuer's common stock.
F5 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.
F6 Once vested, the shares of common stock are not subject to expiration.
F7 RSUs will vest 20% on March 1, 2023, with the remaining 80% vesting in equal quarterly amounts over the remaining four years.
F8 Options will vest 20% on March 1, 2023, with the remaining 80% vesting in equal quarterly installments over the remaining four years.