Form 4: Pegasystems COO Kenneth Stillwell Reports Stock Sales and RSU Vesting
SEC Form 4 Filing
Kenneth Stillwell, COO and CFO of Pegasystems, reported the sale of common stock and vesting of restricted stock units (RSUs) between March 1 and March 4, 2024, according to a Form 4 filing with the SEC.
Summary
- Kenneth Stillwell, the COO and CFO of Pegasystems, filed a Form 4 with the SEC detailing changes in his beneficial ownership of the company's stock.
- On March 1, 2024, Stillwell sold 200 shares of common stock at $64.50, 989 shares at a weighted average price of $66.42 (ranging from $65.78 to $66.77), and 811 shares at a weighted average price of $66.92 (ranging from $66.78 to $67.28) under a pre-arranged trading plan adopted on November 8, 2023.
- Also on March 1, 2024, 1,175 restricted stock units (RSUs) vested, and 463 shares were tendered to cover tax obligations.
- On March 4, 2024, 576 and 697 RSUs vested, and 227 and 275 shares were tendered to cover tax obligations.
- Following these transactions, Stillwell directly owns 17,483 shares of Pegasystems common stock and a number of derivative securities.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions and vesting events. The sales are conducted under a pre-arranged plan, mitigating concerns about insider information.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and potential future performance.
Stakeholder Impact
- Shareholders may monitor these transactions for insights into management's perspective on the company's value.
- The transactions have a minor impact on the overall shareholding structure.
Key Dates
| Date | Description |
|---|---|
| 2021-03-03 | Date of original grant for 697 RSUs vesting on 2024-03-04 |
| 2022-03-02 | Date of original grant for 576 RSUs vesting on 2024-03-04 |
| 2023-03-01 | Date of original grant for 1,175 RSUs vesting on 2024-03-01 |
| 2023-11-08 | Date Mr. Stillwell adopted the pre-arranged trading plan under Rule 10b5-1 |
| 2024-03-01 | Sale of common stock and vesting of 1,175 RSUs |
| 2024-03-04 | Vesting of 576 and 697 RSUs |
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