Form 4: Pegasystems COO Kenneth Stillwell Reports Stock Transactions

Kenneth Stillwell, COO and CFO of Pegasystems, reports the vesting of restricted stock units and shares tendered for tax obligations.

Summary

• Kenneth Stillwell, the COO and CFO of Pegasystems, filed a Form 4 detailing changes in beneficial ownership.
• On June 7, 2024, 2,611 restricted stock units vested, representing 5% of the original grant of 41,768 units.
• Stillwell also tendered 1,028 shares of common stock to cover tax withholding obligations at a price of $58.25 per share.
• Following these transactions, Stillwell directly owns 24,951 shares of Pegasystems common stock.
• He also holds 28,715 restricted stock units.

Sentiment

Score: 5

Explanation: This is a routine filing related to stock vesting and tax obligations, with no indication of unusual activity or significant sentiment impact.

Future Outlook

The remaining 75% of the original restricted stock units will vest in equal quarterly installments over the remaining three years.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track executive compensation and potential alignment with shareholder interests.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation and stock ownership.

Next Steps

• Remaining restricted stock units will continue to vest quarterly over the next three years.

Key Dates