Form 4: Pagaya Technologies CTO Sells Over 53,000 Shares Under Pre-Arranged Plan
Insider Transaction Report
Pagaya Technologies Ltd.'s Chief Technology Officer, Avital Pardo, sold a total of 53,852 Class B Ordinary Shares in two transactions in mid-June 2025, pursuant to a Rule 10b5-1 trading plan.
Summary
- Avital Pardo, Chief Technology Officer and Director of Pagaya Technologies Ltd. (PGY), sold a total of 53,852 Class B Ordinary Shares.
- The sales occurred on June 12, 2025, and June 16, 2025.
- On June 12, 2025, 48,913 shares were sold at a weighted average price of $19.0451 per share, with prices ranging from $19.00 to $19.15.
- On June 16, 2025, an additional 4,939 shares were sold at a weighted average price of $19.0139 per share, with prices ranging from $19.00 to $19.04.
- These transactions were executed under a pre-arranged Rule 10b5-1 trading plan.
- Following these sales, Avital Pardo beneficially owns 1,110,220 Class B Ordinary Shares.
- Class B Ordinary Shares were converted to Class A Ordinary Shares upon sale.
Sentiment
Score: 5
Explanation: The sale of shares by an insider could be perceived as slightly negative, but the fact that it was executed under a pre-arranged 10b5-1 plan mitigates concerns about its implications for the company's immediate prospects, making the overall sentiment neutral.
Positives
- The sales were conducted under a Rule 10b5-1 plan, indicating a pre-scheduled transaction rather than a reactive sale based on new, non-public information.
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.
Future Outlook
NA
Industry Context
NA
Stakeholder Impact
- Shareholders: The sale by a key executive might lead to minor concerns about insider confidence, but the 10b5-1 plan context suggests it's a planned liquidity event rather than a signal of negative company performance.
Key Dates
| Date | Description |
|---|---|
| 06/12/2025 | Date of first reported transaction (sale of 48,913 Class B Ordinary Shares). |
| 06/16/2025 | Date of second reported transaction (sale of 4,939 Class B Ordinary Shares) and filing date of the Form 4. |
Keywords
Pagaya Technologies Ltd., PGY, SEC Form 4, Insider Trading, Stock Sale, Avital Pardo, Chief Technology Officer, 10b5-1 Plan, Class B Ordinary Shares, Class A Ordinary Shares
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