Rifat Kerim Akgonul - Mar 7, 2024 Form 4 Insider Report for PEGASYSTEMS INC (PEGA)

Role
Chief Product Officer
Signature
/s/ Ewelina Kemp, Attorney-in-Fact for Rifat Kerim Akgonul
Stock symbol
PEGA
Transactions as of
Mar 7, 2024
Transactions value $
-$147,335
Form type
4
Date filed
3/11/2024, 05:21 PM
Previous filing
Mar 7, 2024
Next filing
Apr 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PEGA Common stock Options Exercise $0 +3.37K +6.47% $0.00 55.4K Mar 7, 2024 Direct F1
transaction PEGA Common stock Tax liability -$62.7K -990 -1.79% $63.37 54.5K Mar 7, 2024 Direct F2
transaction PEGA Common stock Options Exercise $0 +4.56K +8.37% $0.00 59K Mar 7, 2024 Direct F3
transaction PEGA Common stock Tax liability -$84.6K -1.34K -2.26% $63.37 57.7K Mar 7, 2024 Direct F2, F4

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 -3.37K -100% $0.00* 0 Mar 7, 2024 Common stock 3.37K $0.00 Direct F1, F5, F6
transaction PEGA Restricted Stock Units Options Exercise $0 -4.56K -25% $0.00 13.7K Mar 7, 2024 Common stock 4.56K $0.00 Direct F3, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents 100% vesting on March 7, 2024. The original grant was 3,370 restricted stock units, which were granted on March 7, 2023. As part of the Company's 2023 Corporate Incentive Compensation Plan (CICP), Mr. Akgonul elected to receive half of his annual bonus in RSUs.
F2 Tendered to issuer to satisfy tax withholding obligations of the reporting person, exempted pursuant to Rule 16b-3(e).
F3 Represents a 25% vesting on March 7, 2024. The original grant was 18,227 restricted stock units, with the remaining 75% vesting in equal quarterly installments over the remaining three years.
F4 Does not include shares of common stock subject to unvested restricted stock units and/or options awards.
F5 Each restricted stock unit represents the right to receive, following vesting, one share of the issuer's common stock.
F6 Once vested, the shares of common stock are not subject to expiration.