Form 4: Pagaya Technologies Director Acquires 25,000 Shares in Equity Grant

Director Harvey Golub acquired 25,000 Class A Ordinary Shares of Pagaya Technologies, consisting of restricted stock units and ordinary shares, as part of an annual equity grant.

Summary

• Harvey Golub, a director at Pagaya Technologies, acquired 25,000 Class A Ordinary Shares on December 22, 2024.
• The acquisition consists of 18,750 restricted stock units (RSUs) and 6,250 Class A Ordinary Shares.
• Each RSU represents a contingent right to receive one share of the company's Class A Ordinary Share.
• The grant vested 25% on January 1, 2025, with the remaining portion vesting in three equal quarterly installments on April 1, July 1, and October 1 of 2025.
• The transaction was reported late due to an administrative delay.

Sentiment

Score: 7

Explanation: The document reflects a routine equity grant to a director, which is generally positive for aligning interests, but the administrative delay in reporting is a minor concern.

Positives

• The equity grant aligns director interests with shareholder value.
• The vesting schedule encourages long-term commitment from the director.

Negatives

• The transaction was reported late due to an administrative delay, indicating a potential weakness in internal controls.

Risks

• Administrative delays in reporting transactions could lead to compliance issues.
• The vesting schedule could be impacted by unforeseen circumstances.

Future Outlook

The remaining restricted stock units will vest in three equal quarterly installments throughout 2025.

Management Comments

• The transactions reported herein are being reported late due to an inadvertent administrative delay and not any error of the Reporting Person.
• Annual equity grant for non-employee directors as approved by shareholders and described under the heading 'Non-Employee Director Compensation' in our 10-K filed on 4/25/2024.

Industry Context

Equity grants to directors are a common practice in publicly traded companies to align their interests with those of shareholders.

Comparison to Industry Standards

• Equity grants to non-employee directors are a standard practice across the industry.
• The vesting schedule of the RSUs is typical for such grants, often spanning multiple years to encourage long-term commitment.
• The size of the grant is consistent with the company's compensation policy as described in the 10-K filing.

Stakeholder Impact

• The equity grant aligns the director's interests with those of shareholders.
• The vesting schedule encourages long-term commitment from the director.

Next Steps

• The remaining restricted stock units will vest in three equal quarterly installments on April 1, July 1 and October 1 of 2025.

Key Dates

Keywords

Pagaya Technologies, Harvey Golub, equity grant, restricted stock units, Class A Ordinary Shares, director, insider trading, SEC Form 4