Form 4: PegaSystems COO Kenneth Stillwell Executes Stock Options and Sells Shares
SEC Form 4 Filing
Kenneth Stillwell, COO and CFO of PegaSystems, exercised stock options and sold shares on February 14, 2025, according to a Form 4 filing with the SEC.
Summary
- On February 14, 2025, Kenneth Stillwell, the COO and CFO of PegaSystems, engaged in transactions involving the company's common stock.
- Stillwell exercised 8,233 stock options at a price of $58.95 and 12,960 stock options at a price of $33.9.
- He also disposed of shares to cover tax liabilities related to the option exercises, with 6,382 shares disposed of at $84.95 and 7,069 shares disposed of at $84.95.
- Additionally, Stillwell sold 1,851 shares at an average price of $84.77 and 5,891 shares at an average price of $84.71.
- Following these transactions, Stillwell directly owns 14,466 shares of PegaSystems common stock.
- He also holds 90,720 stock options.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions without indicating positive or negative implications for the company.
Industry Context
This filing is a routine disclosure of insider transactions. It's common for executives to exercise stock options and sell a portion of the shares for tax purposes and portfolio diversification.
Comparison to Industry Standards
- Executive compensation packages often include stock options as a way to align management's interests with those of shareholders.
- The vesting schedules and exercise prices are typical for stock option grants in the technology industry.
- Comparing Stillwell's transactions to those of executives at similar companies like Salesforce (CRM) or ServiceNow (NOW) would provide further context.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the increase in the number of shares available in the market.
- The impact on employees, customers, suppliers, and creditors is likely to be negligible.
Key Dates
| Date | Description |
|---|---|
| 03/05/2019 | 20% of stock options vested |
| 02/02/2023 | First vest occurred for options with exercise price of $33.9 |
| 02/14/2025 | Date of transactions: stock option exercises and share sales |
| 02/19/2025 | Date of Form 4 filing |
| 03/05/2028 | Expiration date of stock options with exercise price of $58.95 |
| 11/02/2032 | Expiration date of stock options with exercise price of $33.9 |
Keywords
Form 4, Stock Options, Share Sales, PegaSystems, Kenneth Stillwell, PEGA, Insider Trading
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