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

Director Dan Petrozzo 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

• Director Dan Petrozzo acquired 25,000 Class A Ordinary Shares of Pagaya Technologies 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, not an error by the reporting person.
• This equity grant is part of the annual compensation for non-employee directors, as approved by shareholders and detailed in the company's 10-K filing on April 25, 2024.

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 is a minor negative.

Positives

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

Negatives

• The transaction was reported late due to an administrative delay.

Risks

• Administrative delays in reporting transactions could lead to compliance issues.

Future Outlook

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

Management Comments

• The equity grant is part of the annual compensation for non-employee directors as approved by shareholders.
• The transactions reported herein are being reported late due to an inadvertent administrative delay and not any error of the Reporting Person.

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 are a standard form of compensation for non-employee directors in publicly listed companies.
• The vesting schedule of the RSUs is typical, with a portion vesting immediately and the remainder over a period of time.
• The specific terms of the grant, such as the number of shares and vesting schedule, are likely comparable to those of other companies of similar size and industry.

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 on April 1, July 1, and October 1 of 2025.

Key Dates

Keywords

Pagaya Technologies, Director, Equity Grant, Restricted Stock Units, Class A Ordinary Shares, Beneficial Ownership, SEC Form 4, Director Compensation