Form 4: PegaSystems COO, CFO Kenneth Stillwell Sells 1,000 Shares Under 10b5-1 Plan

Kenneth Stillwell, COO and CFO of PegaSystems, sold 1,000 shares of common stock at $73.17 per share on October 1, 2024, under a pre-arranged trading plan.

Summary

• Kenneth Stillwell, the COO and CFO of PegaSystems, filed a Form 4 disclosing a transaction in the company's common stock.
• On October 1, 2024, Stillwell sold 1,000 shares of PegaSystems common stock.
• The sale was executed at a price of $73.17 per share.
• The transaction was conducted under a pre-arranged trading plan adopted on November 8, 2023, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
• Following the reported transaction, Stillwell beneficially owns 17,262 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 for an insider stock sale. It doesn't inherently convey positive or negative sentiment.

Industry Context

This is a routine disclosure of an insider transaction. Insiders often use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.

Stakeholder Impact

• The sale of shares by a company executive could be perceived negatively by some shareholders, although the pre-arranged trading plan mitigates this concern.

Key Dates