John Gerard Higgins - Mar 7, 2023 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 7, 2023
Transactions value $
$0
Form type
4
Date filed
3/9/2023, 04:54 PM
Previous filing
Mar 3, 2023
Next filing
Jun 5, 2023

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 +2.79K $0.00 2.79K Mar 7, 2023 Common stock 2.79K $0.00 Direct F1, F2, F3
transaction PEGA Restricted Stock Units Award $0 +18.2K $0.00 18.2K Mar 7, 2023 Common stock 18.2K $0.00 Direct F1, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents the right to receive, following vesting, one share of the issuer's common stock.
F2 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 7, 2023. All RSUs vest 100% on March 7, 2024, subject to attainment of the CICP performance threshold funding for the year ending December 31, 2023.
F3 Once vested, the shares of common stock are not subject to expiration.
F4 RSUs will vest 25% on March 7, 2024, with the remaining 75% vesting in equal quarterly installments over the remaining three years.