Form 4: Pagaya Technologies CTO Avital Pardo Sells Over 294,000 Shares in Pre-Planned Transactions

Pagaya Technologies Ltd.'s Chief Technology Officer and Director, Avital Pardo, sold a total of 294,243 Class B Ordinary Shares across two transactions in late June 2025, pursuant to a Rule 10b5-1 trading plan.

Summary

• Avital Pardo, Chief Technology Officer and Director of Pagaya Technologies Ltd. (PGY), reported the sale of Class B Ordinary Shares.
• On June 24, 2025, Pardo sold 239,989 Class B Ordinary Shares at a weighted average price of $19.6523 per share. The prices for these shares ranged from $19.11 to $19.96.
• On June 25, 2025, Pardo sold an additional 54,254 Class B Ordinary Shares at a weighted average price of $20.2389 per share. The prices for these shares ranged from $20.08 to $20.60.
• The total number of Class B Ordinary Shares sold across these two transactions is 294,243.
• All sales were effected pursuant to a Rule 10b5-1 trading plan, which allows insiders to set up a pre-arranged plan to sell company stock.
• Following these reported transactions, Avital Pardo beneficially owns 1,042,950 Class B Ordinary Shares.
• Class B Ordinary Shares are converted to Class A Ordinary Shares upon sale.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to insider selling, which can be perceived as a lack of confidence. However, the fact that it's a 10b5-1 plan mitigates the negativity somewhat, suggesting pre-planned diversification rather than a reaction to adverse news.

Positives

• The sales were conducted under a Rule 10b5-1 trading plan, indicating pre-scheduled transactions for purposes such as diversification or liquidity, rather than a reaction to new negative information.

Negatives

• Insider selling, even under a 10b5-1 plan, can be perceived by investors as a signal of reduced confidence in the company's future stock performance or that the stock is currently fully valued.
• The transactions represent a significant reduction in the insider's direct ownership stake.

Risks

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

Future Outlook

NA

Industry Context

This Form 4 filing is a standard disclosure of insider trading activity and does not provide broader industry context or trends. It reflects an individual executive's equity transactions rather than a company-wide strategic move.

Stakeholder Impact

• Shareholders may view the insider selling as a negative signal, potentially leading to decreased investor confidence and downward pressure on the stock price.

Key Dates

Recommendation

Keywords

Pagaya Technologies, PGY, Form 4, Insider Trading, Stock Sale, Avital Pardo, Chief Technology Officer, Director, 10b5-1 plan, Equity Sales