Form 4: Pagaya Technologies Chief Business Officer Sells Over 54,000 Shares Under Pre-Arranged Plan

Pagaya Technologies Ltd.'s Chief Business Officer and Director, Yahav Yulzari, sold a total of 54,125 Class B Ordinary Shares in two transactions in mid-June 2025, executed under a Rule 10b5-1 trading plan.

Summary

• Yahav Yulzari, Chief Business Officer and Director of Pagaya Technologies Ltd. (PGY), reported two sales of Class B Ordinary Shares.
• On June 12, 2025, Mr. Yulzari sold 48,981 shares at a weighted average price of $19.0456 per share, with prices ranging from $19.00 to $19.15.
• On June 16, 2025, an additional 5,144 shares were sold at a weighted average price of $19.0151 per share, with prices ranging from $19.00 to $19.04.
• Both sales were conducted pursuant to a Rule 10b5-1 trading plan.
• Following these transactions, Mr. Yulzari beneficially owns 4,153,550 Class B Ordinary Shares directly.
• Class B Ordinary Shares were converted to Class A Ordinary Shares upon sale.

Sentiment

Score: 5

Explanation: Neutral. While insider selling can be perceived negatively, the execution under a 10b5-1 plan mitigates concerns about opportunistic trading based on negative non-public information. It's a routine disclosure for personal financial management.

Positives

• The sales were executed under a Rule 10b5-1 plan, indicating pre-scheduled transactions and potentially mitigating concerns about insider trading based on non-public information.

Negatives

• Insider selling, even under a 10b5-1 plan, can sometimes be interpreted by the market as a lack of confidence in the company's near-term prospects, although this is not always the case.
• A significant number of shares (54,125) were sold by a key executive.

Risks

• Potential negative market perception due to insider selling, which could put downward pressure on the stock price.

Future Outlook

The document does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction, as it is a transaction report.

Industry Context

This Form 4 filing reports routine insider share sales under a pre-arranged plan. Such transactions are common across industries and do not inherently indicate specific industry trends, though they are closely watched by investors for insights into management's confidence.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders: May interpret the insider selling as a signal, potentially leading to minor negative sentiment, though the 10b5-1 plan context reduces this impact.
• Employees, Customers, Suppliers, Creditors: Unlikely to be directly impacted by this specific insider transaction report.

Next Steps

• The document does not specify any future actions, events, or milestones for the company or the reporting person beyond the completion of these specific share sales.

Key Dates

Recommendation

Keywords

Pagaya Technologies, PGY, SEC Form 4, Insider Selling, Yahav Yulzari, 10b5-1 Plan, Share Sale, Director Transaction, Officer Transaction, Class B Ordinary Share