Form 4: PegaSystems COO, CFO Kenneth Stillwell Sells Shares Under Pre-Arranged Trading Plan
SEC Form 4 Filing
Kenneth Stillwell, COO and CFO of PegaSystems, sold shares of common stock on August 1, 2024, under a pre-arranged trading plan.
Summary
- Kenneth Stillwell, the COO and CFO of PegaSystems, sold shares of the company's common stock on August 1, 2024.
- The sales were executed under a pre-arranged trading plan adopted on November 8, 2023, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
- A total of 1,287 shares were sold at a weighted average price of $68.36, 613 shares at $69.50, and 1,100 shares at $70.53.
- Following these transactions, Stillwell directly owns 18,197 shares of PegaSystems common stock, excluding unvested restricted stock units and/or options awards.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to insider trading. 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 sell shares under pre-arranged trading plans to avoid accusations of trading on inside information.
Stakeholder Impact
- The stock sale could have a minor impact on shareholder sentiment, but is unlikely to have a significant effect given the pre-arranged nature of the trades.
Key Dates
| Date | Description |
|---|---|
| 2023-11-08 | Date of adoption of the pre-arranged trading plan by Mr. Stillwell under Rule 10b5-1 |
| 2024-08-01 | Date of the stock sales |
| 2024-08-05 | Date of signature of the Form 4 filing |
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