Form 4: Pagaya Technologies CTO Sells Over 13,000 Shares Under Pre-Arranged Trading Plan

Pagaya Technologies Ltd.'s Chief Technology Officer and Director, Avital Pardo, sold a total of 13,016 Class B Ordinary Shares in two transactions in mid-2025, pursuant to a Rule 10b5-1 trading plan.

Summary

• Avital Pardo, Chief Technology Officer and Director of Pagaya Technologies Ltd. (PGY), reported two sales of Class B Ordinary Shares.
• On June 18, 2025, 4,757 shares were sold at a weighted average price of $19.0001 per share.
• On June 20, 2025, an additional 8,259 shares were sold at $19.04 per share.
• Both sales were conducted under a Rule 10b5-1 pre-arranged trading plan, indicating a scheduled transaction.
• Following these transactions, Mr. Pardo beneficially owns 1,097,204 Class B Ordinary Shares directly.
• The Class B Ordinary Shares were converted to Class A Ordinary Shares upon sale.

Sentiment

Score: 5

Explanation: The sentiment is neutral to slightly negative. While insider selling can be a negative signal, the fact that it's under a 10b5-1 plan mitigates the negative impact, suggesting it's a pre-planned financial management decision rather than a reaction to adverse company news.

Positives

• The sales were conducted under a Rule 10b5-1 plan, indicating a pre-scheduled transaction rather than a reaction to new, negative information, which can mitigate negative market perception.

Negatives

• An insider, specifically a Chief Technology Officer and Director, sold shares, which can sometimes be perceived negatively by the market, even if pre-planned.

Risks

• Potential for negative market perception due to insider selling, despite the use of a 10b5-1 plan.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Management Comments

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

Industry Context

This filing is a routine insider transaction report and does not provide specific insights into broader industry trends. Insider sales, even under 10b5-1 plans, are common for executives managing personal finances or diversifying portfolios.

Comparison to Industry Standards

• This document reports standard insider trading activity via a Form 4. There are no specific comparable companies, projects, or results mentioned within this filing to assess against industry benchmarks.
• The use of a 10b5-1 plan is a standard practice for insiders to sell shares while mitigating concerns about insider trading, aligning with common corporate governance practices.

Corporate Governance

Stakeholder Impact

• Shareholders may observe the insider selling, which could lead to minor concerns, though the 10b5-1 plan mitigates the negative interpretation.
• Employees are not directly impacted by this specific filing.

Next Steps

• The document does not specify any future actions, events, or milestones for the company or the reporting person beyond the reported transactions.

Key Dates

Keywords

Pagaya Technologies, PGY, Form 4, Insider Trading, Share Sale, Avital Pardo, CTO, Director, 10b5-1 Plan, SEC Filing