Leon Trefler - 01 Sep 2023 Form 4 Insider Report for PEGASYSTEMS INC (PEGA)

Role
Chief of Clients and Markets
Signature
/s/ Ewelina Kemp, Attorney-in-Fact for Leon Trefler
Issuer symbol
PEGA
Transactions as of
01 Sep 2023
Net transactions value
-$54,220
Form type
4
Filing time
06 Sep 2023, 19:05:15 UTC
Previous filing
02 Aug 2023
Next filing
08 Sep 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PEGA Common stock Sale $40,550 -811 -3.1% $50.00 25,697 01 Sep 2023 Direct F1
transaction PEGA Common stock Options Exercise $0 +587 +2.3% $0.000000 26,284 01 Sep 2023 Direct F2
transaction PEGA Common stock Tax liability $7,101 -143 -0.54% $49.66 26,141 01 Sep 2023 Direct
transaction PEGA Common stock Options Exercise $0 +192 +0.73% $0.000000 26,333 05 Sep 2023 Direct F3
transaction PEGA Common stock Tax liability $2,393 -47 -0.18% $50.92 26,286 05 Sep 2023 Direct
transaction PEGA Common stock Options Exercise $0 +334 +1.3% $0.000000 26,620 05 Sep 2023 Direct F4
transaction PEGA Common stock Tax liability $4,175 -82 -0.31% $50.92 26,538 05 Sep 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 -587 -6.7% $0.000000 8,228 01 Sep 2023 Common stock 0 $0.000000 Direct F2, F6, F7
transaction PEGA Restricted Stock Units Options Exercise $0 -192 -9.1% $0.000000 1,922 05 Sep 2023 Common stock 0 $0.000000 Direct F3, F6, F7
transaction PEGA Restricted Stock Units Options Exercise $0 -334 -14% $0.000000 2,006 05 Sep 2023 Common stock 0 $0.000000 Direct F4, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Sold pursuant to a pre-arranged trading plan under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
F2 Represents a 5% vesting on September 1, 2023. The original grant was 11,754 restricted stock units, with 20% vesting on March 1, 2023, with the remaining 80% vesting in equal quarterly installments over the remaining four years.
F3 Represents a 5% vesting on September 2, 2023, with a release date of September 5, 2023, the first business day following vesting. The original grant was 3,843 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 September 3, 2023, with a release date of September 5, 2023, the first business day following vesting. The original grant was 6,687 restricted stock units, with 20% vesting on March 3, 2021, with 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.