Form 4: Pega Systems VP of Finance Reports Stock Transactions

Efstathios A. Kouninis, VP of Finance & CAO at Pega Systems, reports the vesting and subsequent release of restricted stock units, along with a transaction to cover tax obligations.

Summary

• On September 9, 2024, Efstathios A. Kouninis, VP of Finance & CAO at Pegasystems Inc., reported transactions involving common stock and restricted stock units.
• 167 restricted stock units vested and were released.
• 41 shares of common stock were tendered to the issuer to satisfy tax withholding obligations at a price of $68.59 per share.
• Following these transactions, Kouninis directly owns 303 shares of common stock, excluding unvested restricted stock units and/or options awards, and 1,662 restricted stock units.
• The vesting of the restricted stock units is part of a schedule that began on March 7, 2024, with 25% vesting, and the remaining 75% vesting in equal quarterly installments over three years.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions by a company executive, with no inherent positive or negative sentiment.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to monitor potential alignment of interests between management and shareholders.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.

Key Dates