Form 4: Pegasystems COO, CFO Kenneth Stillwell Sells Shares Under Pre-Arranged Trading Plan

Kenneth Stillwell, COO and CFO of Pegasystems, sold shares of common stock on April 1, 2024, under a pre-arranged trading plan.

Summary

• Kenneth Stillwell, the COO and CFO of Pegasystems Inc., sold shares of the company's common stock on April 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 825 shares were sold at a weighted average price of $63.07, with prices ranging from $62.55 to $63.47.
• An additional 1,175 shares were sold at a weighted average price of $64.15, with prices ranging from $63.61 to $64.20.
• Following these transactions, Stillwell directly owns 24,884 shares of Pegasystems common stock, excluding unvested restricted stock units and/or option awards.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of insider trading activity under a pre-arranged plan. It doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

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

Key Dates