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 a portion of the acquired shares to cover tax obligations.
Summary
- On August 21, 2024, Kenneth Stillwell, the COO and CFO of PegaSystems, exercised stock options for 10,000 shares at a price of $33.90.
- Following the exercise, Stillwell disposed of 6,981 shares to cover his tax liability at a price of $67.51.
- He also sold 3,019 shares at $67.55.
- After these transactions, Stillwell directly owns 18,197 shares of PegaSystems common stock.
- Stillwell also holds options for 132,560 shares.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of insider trading activity. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives who receive stock options as part of their compensation. The sale of shares to cover tax obligations is also a typical practice.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely negligible.
Key Dates
| Date | Description |
|---|---|
| 02/02/2023 | First vesting date of the stock options. |
| 08/21/2024 | Date of stock option exercise and share sales. |
| 08/23/2024 | Date of Form 4 filing. |
| 11/02/2032 | Expiration date of the stock options. |
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