Alan Trefler - Feb 14, 2024 Form 4 Insider Report for PEGASYSTEMS INC (PEGA)

Role: C.E.O. & Chairman, 10%+ Owner
Signature: /s/ Ewelina Kemp, Attorney-in-Fact for Alan Trefler
Stock symbol: PEGA
Transactions as of: Feb 14, 2024
Transactions value $: $0
Form type: 4
Date filed: 2/16/2024, 05:33 PM
Previous filing: Dec 21, 2023
Next filing: Mar 5, 2024

Transactions Table

Type	Sym	Class	Shares After	Date	Ownership	Footnotes
holding	PEGA	Common stock	4.26M	Feb 14, 2024	Alan N. Trefler Grantor Retained Annuity Trust I of 2022
holding	PEGA	Common stock	7.5M	Feb 14, 2024	Alan N. Trefler Grantor Retained Annuity Trust I of 2023
holding	PEGA	Common stock	3.24M	Feb 14, 2024	Alan N. Trefler Grantor Retained Annuity Trust II of 2023
holding	PEGA	Common stock	24.7M	Feb 14, 2024	Direct	F1

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	Stock Options	Award	$0	+60.4K		$0.00	60.4K	Feb 14, 2024	Common stock	60.4K	$47.27	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Does not include shares of common stock subject to unvested restricted stock units and/or options awards.
F2	On March 7, 2023, the reporting person was granted an option to purchase 241,636 shares of common stock. The option vests in two instalments, with up to 25% to vest on the first anniversary of the date of grant based on the Pegasystems' satisfaction of certain performance criteria for the fiscal year ended December 31, 2023, and with up to 75% to vest on the second anniversary of the date of grant based on Pegasystems' satisfaction of certain performance criteria for the fiscal year ended December 31, 2024. The performance criteria for the fiscal year ended December 31, 2023 were met in full, resulting in vesting of the option as to 60,409 shares.

Content

Does not include shares of common stock subject to unvested restricted stock units and/or options awards.

On March 7, 2023, the reporting person was granted an option to purchase 241,636 shares of common stock. The option vests in two instalments, with up to 25% to vest on the first anniversary of the date of grant based on the Pegasystems' satisfaction of certain performance criteria for the fiscal year ended December 31, 2023, and with up to 75% to vest on the second anniversary of the date of grant based on Pegasystems' satisfaction of certain performance criteria for the fiscal year ended December 31, 2024. The performance criteria for the fiscal year ended December 31, 2023 were met in full, resulting in vesting of the option as to 60,409 shares.