Form 4: Pagaya CDO Sells Shares Under 10b5-1 Plan

Pagaya Technologies' Chief Development Officer, Tami Rosen, sold 7,561 Class A Ordinary Shares for approximately $30.73 per share under a pre-arranged 10b5-1 plan.

Summary

• Tami Rosen, Chief Development Officer and Director of Pagaya Technologies Ltd. (PGY), reported a sale of Class A Ordinary Shares.
• The transaction involved the disposition of 7,561 shares.
• The shares were sold on December 19, 2025, at a weighted average price of $30.7345 per share.
• The sale price ranged from $29.90 to $32.62 per share.
• This sale was executed pursuant to a Rule 10b5-1 trading plan.
• Following this transaction, Tami Rosen beneficially owns 37,544 Class A Ordinary Shares directly.

Sentiment

Score: 5

Explanation: The filing reports a routine insider stock sale executed under a pre-arranged 10b5-1 plan, which is typically for personal financial management and does not necessarily reflect a change in the company's fundamental outlook.

Positives

• NA

Negatives

• Insider selling, even under a 10b5-1 plan, can sometimes be viewed with slight caution by some investors, though it is often for personal financial planning and not indicative of a negative outlook.

Risks

• NA

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders may note the insider sale, but its execution under a 10b5-1 plan suggests it is a pre-scheduled personal financial event rather than a reaction to new company-specific information.

Key Dates

Recommendation

The reported sale by a Chief Development Officer is a routine transaction executed under a Rule 10b5-1 plan. Such pre-scheduled sales are common for executive financial planning and typically do not signal a change in the company's operational performance or future prospects. Therefore, this specific filing does not provide a strong basis for altering an investment position.

Keywords

Pagaya Technologies, PGY, Insider Trading, Form 4, Stock Sale, Tami Rosen, 10b5-1 Plan