Form 4: Pegasystems Chief Product Officer Reports Routine Stock Transactions, Including RSU Vesting and Tax-Related Sales

Pegasystems Inc.'s Chief Product Officer, Rifat Kerim Akgonul, reported the acquisition of 818 common shares through restricted stock unit vesting and the disposition of 397 shares to cover tax obligations on June 2, 2025.

Summary

• Rifat Kerim Akgonul, Chief Product Officer of Pegasystems Inc. (PEGA), reported transactions involving the company's common stock on June 2, 2025.
• The transactions included the acquisition of 818 shares of common stock through the vesting of restricted stock units (RSUs).
• Concurrently, 397 shares of common stock were disposed of to satisfy tax withholding obligations related to the RSU vesting.
• All reported transactions occurred at a price of $98.15 per share.
• Following these transactions, Mr. Akgonul directly beneficially owns 38,061 shares of Pegasystems common stock.
• The transactions were made pursuant to a Rule 10b5-1 plan, indicating pre-scheduled trading.

Sentiment

Score: 5

Explanation: Neutral. This is a routine insider transaction filing (Form 4) reporting RSU vesting and tax-related sales, which is a standard part of executive compensation. It does not inherently convey positive or negative sentiment about the company's performance or outlook.

Positives

• The acquisition of shares through RSU vesting indicates continued equity participation and alignment of interests between the executive and shareholders.
• The transactions were conducted under a Rule 10b5-1 plan, suggesting pre-planned and automated transactions, which can reduce concerns about opportunistic insider trading.

Negatives

• The disposition of shares, even for tax purposes, results in a reduction of the executive's direct ownership stake, though this is a common and necessary practice for RSU vesting.

Future Outlook

This document is a Form 4, which reports past insider transactions and does not contain forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

Form 4 filings are routine disclosures of insider transactions, reflecting executive compensation structures common across many industries. These specific transactions, involving RSU vesting and tax withholding, are standard practices for equity-based compensation.

Related Party Transactions

• The reported transactions involve the acquisition of shares by an executive from the issuer (company) through RSU vesting and the disposition of shares back to the issuer to satisfy tax withholding obligations, which are standard related-party dealings in the context of executive compensation.

Stakeholder Impact

• Shareholders: The filing provides transparency regarding executive stock ownership and compensation, which is generally positive for corporate governance. The slight reduction in direct ownership due to tax sales is a routine event and not indicative of a change in executive confidence.
• Employees: No direct impact on employees beyond the executive's compensation structure.

Next Steps

• Continued vesting of the remaining 80% of the 11,754 restricted stock units in equal quarterly installments over the remaining four years, following the initial 20% vesting on March 1, 2023.
• Continued vesting of the remaining 80% of the 4,611 restricted stock units in equal quarterly installments over the remaining four years, following the initial 20% vesting on March 2, 2022.

Key Dates

Keywords

Pegasystems, PEGA, Form 4, Insider Trading, Restricted Stock Units, RSU, Stock Vesting, Executive Compensation, Rifat Kerim Akgonul, Chief Product Officer, Equity Ownership