Kenneth Stillwell - Mar 1, 2023 Form 4 Insider Report for PEGASYSTEMS INC (PEGA)

Role
COO, CFO
Signature
/s/ Jenna L. Burstyn, Attorney-in-Fact for Kenneth Stillwell
Stock symbol
PEGA
Transactions as of
Mar 1, 2023
Transactions value $
-$97,454
Form type
4
Date filed
3/3/2023, 05:35 PM
Previous filing
Dec 6, 2022
Next filing
Mar 8, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PEGA Common stock Options Exercise $0 +4.7K +29.8% $0.00 20.5K Mar 1, 2023 Direct F1
transaction PEGA Common stock Tax liability -$57K -1.23K -6% $46.38 19.3K Mar 1, 2023 Direct
transaction PEGA Common stock Options Exercise $0 +2.31K +12% $0.00 21.6K Mar 1, 2023 Direct F2
transaction PEGA Common stock Tax liability -$26.1K -563 -2.61% $46.38 21K Mar 1, 2023 Direct
transaction PEGA Common stock Options Exercise $0 +577 +2.75% $0.00 21.6K Mar 2, 2023 Direct F3
transaction PEGA Common stock Tax liability -$6.49K -141 -0.65% $46.03 21.4K Mar 2, 2023 Direct
transaction PEGA Common stock Options Exercise $0 +697 +3.25% $0.00 22.1K Mar 3, 2023 Direct F4
transaction PEGA Common stock Tax liability -$7.85K -170 -0.77% $46.18 22K Mar 3, 2023 Direct F5

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 Options Exercise $0 -4.7K -20% $0.00 18.8K Mar 1, 2023 Common stock 4.7K $0.00 Direct F1, F6, F7
transaction PEGA Restricted Stock Units Options Exercise $0 -2.31K -100% $0.00* 0 Mar 1, 2023 Common stock 2.31K $0.00 Direct F2, F6, F7
transaction PEGA Restricted Stock Units Options Exercise $0 -577 -7.7% $0.00 6.92K Mar 2, 2023 Common stock 577 $0.00 Direct F3, F6, F7
transaction PEGA Restricted Stock Units Options Exercise $0 -697 -11.12% $0.00 5.57K Mar 3, 2023 Common stock 697 $0.00 Direct F4, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents a 20% vesting on March 1, 2023. The original grant was 23,508 restricted stock units, with the remaining 80% vesting in equal quarterly installments over the remaining four years.
F2 Represents 100% vesting on March 1, 2023. The original grant was 2,311 restricted stock units, which were granted on March 1, 2022. As part of the Company's 2022 Corporate Incentive Compensation Plan (CICP), Mr. Stillwell elected to receive half of his annual bonus in RSUs.
F3 Represents a 5% vesting on March 2, 2023. The original grant was 11,527 restricted stock units, with 20% vesting on March 2, 2022, with the remaining 80% vesting in equal quarterly installments over the remaining four years.
F4 Represents a 5% vesting on March 3, 2023. The original grant was 13,931 restricted stock units, with 20% vesting on March 3, 2021, and the remaining 80% vesting in equal quarterly installments over the remaining four years.
F5 Does not include shares of common stock subject to unvested restricted stock units and/or options awards.
F6 Each restricted stock unit represents the right to receive, following vesting, one share of the issuer's common stock.
F7 Once vested, the shares of common stock are not subject to expiration.