Form 4: Pega Systems Executive Rifat Kerim Akgonul Sells Shares Under Pre-Arranged Trading Plan
SEC Form 4 Filing
Rifat Kerim Akgonul, Chief Product Officer of Pega Systems, sold shares of common stock on July 1, 2024, under a pre-arranged trading plan.
Summary
- Rifat Kerim Akgonul, the Chief Product Officer of Pega Systems, sold shares of the company's common stock on July 1, 2024.
- The sales were executed under a pre-arranged trading plan adopted on November 9, 2023, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
- A total of 936 shares were sold at a weighted average price of $59.25, with individual prices ranging from $58.89 to $59.75.
- An additional 1,064 shares were sold at a weighted average price of $60.23, with individual prices ranging from $60.21 to $60.58.
- Following these transactions, Mr. Akgonul directly owns 51,505 shares of Pega Systems common stock.
- The reported holdings do not include unvested restricted stock units or option awards, but do include shares acquired on June 30, 2024, through the company's stock purchase plan.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock sales by an executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider trading activity. It is common for executives to use pre-arranged trading plans to sell shares over time to avoid accusations of trading on inside information.
Stakeholder Impact
- The stock sales could have a minor negative impact on shareholder sentiment, but the pre-arranged nature of the sales mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 2023-11-09 | Date of adoption of the pre-arranged trading plan. |
| 2024-06-30 | Date of acquisition of shares through the company stock purchase plan. |
| 2024-07-01 | Date of the reported stock sales. |
| 2024-07-03 | Date of the Form 4 filing. |
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