Form 4: Pagaya Technologies CTO Transfers Over 1.2 Million Shares for Estate Planning

Avital Pardo, Chief Technology Officer and Director of Pagaya Technologies Ltd., transferred 1,216,545 Class B Ordinary Shares for no consideration as part of an estate planning arrangement.

Summary

• Avital Pardo, the Chief Technology Officer and a Director of Pagaya Technologies Ltd. (PGY), reported a change in beneficial ownership.
• On June 11, 2025, Pardo transferred 1,216,545 Class B Ordinary Shares.
• The transfer was made for no consideration ($0 price) and is described as an estate planning purpose.
• The shares were transferred from Pardo's individual holding to a trust, where Pardo remains the beneficiary and retains voting and dispositive power.
• Following this transaction, Avital Pardo directly holds 1,164,072 Class B Ordinary Shares.
• Additionally, Pardo indirectly beneficially owns 2,049,878 Class B Ordinary Shares held by Adamas Holdings Group Limited.

Sentiment

Score: 5

Explanation: The sentiment is neutral. The transaction is an internal transfer for estate planning purposes, not a market sale or purchase, and does not reflect positively or negatively on the company's performance or outlook.

Positives

• The transaction is for estate planning purposes, indicating a structured approach to personal asset management by a key executive.
• The reporting person, Avital Pardo, retains voting and dispositive power over the transferred shares, meaning control over these shares has not been relinquished.

Negatives

• No direct negatives are apparent from this specific Form 4 filing, as it represents an internal transfer for estate planning rather than a market sale or adverse event.

Risks

• Any future transactions involving the Issuer's securities by the newly established trust will be subject to Section 16 reporting requirements, increasing the complexity of tracking beneficial ownership changes.

Future Outlook

The document indicates that any future transactions in Pagaya Technologies Ltd.'s securities by the trust established for estate planning will be subject to Section 16 reporting.

Management Comments

• The transfer of shares was for no consideration for estate planning purposes from individual holder to a trust of which individual holder is beneficiary and maintains voting and dispositive power.

Industry Context

This Form 4 filing is a routine disclosure of an insider's change in beneficial ownership, specifically an internal transfer for estate planning. It does not provide insights into broader industry trends or competitive landscape within the financial technology sector where Pagaya Technologies operates.

Related Party Transactions

• Transfer of 1,216,545 Class B Ordinary Shares from Avital Pardo to a trust for estate planning purposes, where Pardo remains the beneficiary and retains control.

Stakeholder Impact

• Shareholders: Minimal direct impact as the transaction is an internal transfer for estate planning and does not involve a market sale that would affect liquidity or share price. The beneficial ownership remains with the insider.
• Employees, Customers, Suppliers, Creditors: No direct impact from this specific insider transaction.

Next Steps

• Future transactions in Pagaya Technologies Ltd.'s securities by the trust will be subject to Section 16 reporting requirements.

Key Dates

Keywords

Pagaya Technologies, PGY, Avital Pardo, Form 4, SEC filing, insider transaction, beneficial ownership, estate planning, Class B Ordinary Share, Chief Technology Officer, Director