Form 4: Pegasystems CEO Alan Trefler Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Alan Trefler, CEO and Chairman of Pegasystems, reports transactions involving restricted stock units and common stock, resulting in adjustments to his beneficial ownership.
Summary
- Alan Trefler, the CEO and Chairman of Pegasystems, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- The reported transactions include the vesting of restricted stock units (RSUs) and the subsequent release of shares.
- Specifically, 1,249 RSUs vested on March 2, 2024, and 1,393 RSUs vested on March 3, 2024, with both releases occurring on March 4, 2024.
- A total of 425 and 406 shares were tendered to the issuer to cover tax withholding obligations related to these vestings at a price of $66.61.
- Following these transactions, Trefler's direct ownership stands at 24,722,817 shares of common stock.
- He also indirectly owns 4,257,521 shares through the Alan N. Trefler Grantor Retained Annuity Trust I of 2022, 7,500,000 shares through the Alan N. Trefler Grantor Retained Annuity Trust I of 2023, and 3,242,479 shares through the Alan N. Trefler Grantor Retained Annuity Trust II of 2023.
- Trefler directly owns 9,990 restricted stock units from a 2022 grant and 5,572 restricted stock units from a 2021 grant.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation, so the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation.
Key Dates
| Date | Description |
|---|---|
| 03/02/2022 | 20% vesting of original grant of 24,976 restricted stock units. |
| 03/03/2021 | 20% vesting of original grant of 27,862 restricted stock units. |
| 03/02/2024 | 5% vesting of restricted stock units. |
| 03/03/2024 | 5% vesting of restricted stock units. |
| 03/04/2024 | Date of transactions: vesting and release of RSUs, and tax withholding. |
| 03/05/2024 | Date of signature on the Form 4 filing. |
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