Form 4: Pagaya Technologies CBO Sells Over 290,000 Shares Under Pre-Arranged 10b5-1 Plan

Pagaya Technologies Ltd.'s Chief Business Officer and Director, Yahav Yulzari, sold a total of 294,027 Class B Ordinary Shares across two transactions in late June 2025, pursuant to a pre-arranged 10b5-1 trading plan.

Summary

• Yahav Yulzari, Chief Business Officer and Director of Pagaya Technologies Ltd. (PGY), reported the sale of Class B Ordinary Shares.
• On June 24, 2025, Mr. Yulzari sold 241,160 Class B Ordinary Shares at a weighted average price of $19.6515 per share, with prices ranging from $19.11 to $19.96.
• On June 25, 2025, an additional 52,867 Class B Ordinary Shares were sold at a weighted average price of $20.239 per share, with prices ranging from $20.08 to $20.60.
• Both sales were executed pursuant to a Rule 10b5-1 trading plan, which allows insiders to set up a pre-scheduled plan for buying or selling company stock.
• Following these transactions, Mr. Yulzari beneficially owns 4,087,724 Class B Ordinary Shares.
• Class B Ordinary Shares were converted to Class A Ordinary Shares upon sale.

Sentiment

Score: 5

Explanation: The filing reports routine insider stock sales executed under a pre-arranged 10b5-1 plan, which are generally considered neutral events as they are not indicative of new information or a change in management's outlook. The insider retains a significant stake.

Positives

• The sales were conducted under a Rule 10b5-1 plan, indicating they were pre-scheduled and not reactive to immediate market conditions or new material non-public information.
• The reporting person, Yahav Yulzari, retains a substantial beneficial ownership of 4,087,724 Class B Ordinary Shares, demonstrating continued alignment with shareholder interests.

Negatives

• Insider selling, even under a 10b5-1 plan, can sometimes be perceived negatively by the market as it reduces the insider's direct equity stake in the company.

Risks

• No specific risks beyond the general market perception of insider selling were mentioned in the document.

Future Outlook

The document does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• The sales were effected pursuant to a 10b5-1 plan, as noted on the form specific filing information.

Industry Context

This Form 4 filing is a routine disclosure of insider stock transactions, common across all publicly traded companies. It does not provide specific insights into broader industry trends or competitive dynamics, focusing solely on the individual's trading activity.

Stakeholder Impact

• Shareholders may view the insider selling with varying interpretations; however, the execution under a 10b5-1 plan typically mitigates concerns about opportunistic selling.

Key Dates

Recommendation

Keywords

Pagaya Technologies, PGY, Form 4, Insider Trading, Stock Sale, 10b5-1 Plan, Yahav Yulzari, Class B Ordinary Shares, Class A Ordinary Shares, Beneficial Ownership