Form 4: PegaSystems COO Kenneth Stillwell Reports Stock Transactions
SEC Form 4
Kenneth Stillwell, COO and CFO of PegaSystems, reports exercising stock options and selling 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 October 25, 2024, Stillwell exercised stock options to acquire 938 shares at $44.30 and 15,920 shares at $33.90.
- He then sold 686 shares and 10,380 shares at $79.54 and 252 shares and 5,540 shares at $79.15 to cover tax liabilities associated with the option exercises.
- Following these transactions, Stillwell directly owns 17,400 shares of common stock and 116,640 stock options.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve a relatively small number of shares.
Key Dates
| Date | Description |
|---|---|
| 03/02/2018 | 20% of stock options vested |
| 02/02/2023 | First vest of stock options occurred |
| 10/25/2024 | Date of stock option exercise and share sales |
| 10/29/2024 | Date of Form 4 filing |
| 03/02/2027 | Expiration date of some stock options |
| 11/02/2032 | Expiration date of some stock options |
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