Form 4: PegaSystems Chief Product Officer Rifat Kerim Akgonul Sells Shares Under 10b5-1 Plan

Rifat Kerim Akgonul, Chief Product Officer of PegaSystems, executed multiple sales of common stock on August 1, 2024, under a pre-arranged trading plan.

Summary

• On August 1, 2024, Rifat Kerim Akgonul, the Chief Product Officer of PegaSystems, sold shares of the company's common stock.
• 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 1,313 shares were sold at a weighted average price of $68.4, with prices ranging from $67.94 to $68.91.
• An additional 687 shares were sold at a weighted average price of $69.62, with prices ranging from $69.20 to $69.98.
• Finally, 1,000 shares were sold at a price of $70.58.
• Following these transactions, Akgonul directly owns 47,505 shares of PegaSystems common stock, excluding unvested restricted stock units and/or options awards.

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 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders, potentially creating downward pressure on the stock price, although the impact is likely to be minimal due to the pre-arranged nature of the sales.

Key Dates