Form 4: PEGA CEO Alan Trefler Sells Shares via 10b5-1 Plan

Pegasystems CEO and Chairman Alan Trefler sold a total of 80,000 shares of common stock across multiple transactions on October 21 and 22, 2025, through a pre-arranged 10b5-1 trading plan.

Summary

• Alan Trefler, the CEO, Chairman, Director, and 10% Owner of Pegasystems Inc. (PEGA), reported multiple sales of common stock.
• A total of 80,000 shares of common stock were sold in several transactions on October 21, 2025, and October 22, 2025.
• The sales were executed at weighted average prices ranging from $54.62 to $66.25 per share.
• These transactions were conducted pursuant to a pre-arranged Rule 10b5-1 trading plan adopted by Mr. Trefler on November 6, 2024.
• Following these sales, Mr. Trefler's direct beneficial ownership of common stock decreased to 44,934,364 shares.
• Mr. Trefler also holds significant indirect beneficial ownership through various trusts, including 10,876,525 shares via the Alan N. Trefler Irrevocable Non-GST Trust of 2022, 10,879,283 shares via the Alan N. Trefler Grantor Retained Annuity Trust I of 2024, 8,703,426 shares via the Alan N. Trefler Grantor Retained Annuity Trust II of 2024, and 2,071,585 shares via The Trefler 2025 Trust.

Sentiment

Score: 5

Explanation: Neutral. The filing reports routine insider stock sales executed under a pre-arranged 10b5-1 trading plan, which is a common practice for executives to manage personal finances and diversify holdings without implying a negative outlook on the company.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which indicates planned diversification and reduces the perception of opportunistic trading.

Negatives

• The direct beneficial ownership of common stock by a key executive, Alan Trefler, has decreased by 80,000 shares.

Stakeholder Impact

• Shareholders: Reduction in direct ownership by the CEO, though executed under a pre-arranged plan, which is a common practice for personal financial management.

Key Dates

Recommendation

The filing details routine insider sales by the CEO under a pre-arranged 10b5-1 plan. Such transactions are generally not indicative of management's view on the company's future performance and are often for personal financial planning or diversification. Therefore, it does not provide a strong signal for a 'buy' or 'sell' recommendation, suggesting a 'hold' is appropriate based solely on this filing.

Keywords

PEGA, Pegasystems, Alan Trefler, insider trading, Form 4, stock sale, 10b5-1 plan, CEO, Chairman, Director