Form 4: PegaSystems COO Kenneth Stillwell Reports Stock Option Exercise and Share Disposals

Kenneth Stillwell, COO and CFO of PegaSystems, exercised stock options and disposed of shares to cover tax obligations.

Summary

• Kenneth Stillwell, the COO and CFO of PegaSystems, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On May 14, 2025, Stillwell exercised stock options for 12,960 shares at a price of $33.90.
• He then disposed of 7,828 shares to cover his tax liability at a price of $97.70.
• Following these transactions, Stillwell directly owns 24,627 shares of PegaSystems common stock.
• He also holds options for 77,760 shares.
• The options vest in equal quarterly installments over a four-year period, starting on February 2, 2023.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment about the company's performance.

Industry Context

Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions. Investors often monitor these filings to gauge executive sentiment and potential future actions.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in the number of outstanding shares.

Key Dates

Keywords

Form 4, Beneficial Ownership, Stock Options, PegaSystems, PEGA, Stillwell, Executive Compensation, Insider Trading