Form 4: Pagaya Technologies President Sanjiv Das Reports Routine Share Transactions

Pagaya Technologies President Sanjiv Das reported the exercise of Restricted Stock Units and a subsequent sale of shares to cover tax obligations.

Summary

• Sanjiv Das, President of Pagaya Technologies Ltd., reported transactions involving Class A Ordinary Shares.
• On July 1, 2025, 8,538 Class A Ordinary Shares were acquired through the exercise of Restricted Stock Units (RSUs) at a price of $0.
• Following this acquisition, direct beneficial ownership of Class A Ordinary Shares was 93,172.
• On July 2, 2025, 4,784 Class A Ordinary Shares were sold at a price of $22.57 per share.
• This sale was conducted to satisfy tax withholding obligations arising exclusively from the vesting of a compensatory award.
• After these transactions, the direct beneficial ownership of Class A Ordinary Shares is 88,388.
• The RSU award initially comprised 68,306 units, with 1/3rd vesting on October 1, 2024, 1/3rd on January 1, 2025, and the remaining RSUs vesting over the following four quarters in four equal installments.
• After the reported RSU exercise, 17,076 Restricted Stock Units remain beneficially owned.

Sentiment

Score: 5

Explanation: The filing details a routine insider transaction involving the exercise of equity awards and a subsequent sale for tax purposes, which is a neutral event for company operations.

Positives

• Vesting of compensatory Restricted Stock Units (RSUs) for President Sanjiv Das indicates continued executive compensation and retention.
• The exercise of 8,538 Restricted Stock Units at a $0 cost basis increases the executive's direct shareholding before the tax-related sale.

Negatives

• President Sanjiv Das sold 4,784 Class A Ordinary Shares, reducing his direct beneficial ownership.
• The sale price of $22.57 per share, while for tax purposes, represents a reduction in the executive's direct equity stake.

Future Outlook

The remaining Restricted Stock Units (17,076 units) are scheduled to vest over the following four quarters in four equal installments, indicating future share acquisitions for the reporting person.

Management Comments

• The sale of securities was necessary to satisfy tax withholding obligations arising exclusively from the vesting of a compensatory award.

Industry Context

This Form 4 filing represents a routine insider transaction, common for executives receiving equity compensation. Such transactions are standard practice in the technology and financial services sectors, where equity awards are a significant component of executive remuneration.

Related Party Transactions

• The vesting and exercise of Restricted Stock Units (RSUs) for President Sanjiv Das represent a compensatory related-party transaction.

Stakeholder Impact

• Shareholders gain transparency into executive equity holdings and compensation practices.

Next Steps

• Remaining Restricted Stock Units (17,076 units) will vest over the next four quarters in equal installments.

Key Dates

Keywords

Pagaya Technologies, PGY, Sanjiv Das, Form 4, Insider Trading, Share Sale, RSU, Restricted Stock Units, Executive Compensation, Stock Transaction