Form 4: Pegasystems COO Kenneth Stillwell Sells 2,000 Shares Under Pre-Arranged Trading Plan

Pegasystems' COO, Kenneth Stillwell, sold 2,000 shares of common stock at $94 per share on January 2, 2025, under a pre-arranged trading plan.

Summary

• Kenneth Stillwell, the COO and CFO of Pegasystems Inc., sold 2,000 shares of the company's common stock on January 2, 2025.
• The sale was executed at a price of $94 per share.
• This transaction was conducted under a pre-arranged trading plan adopted on August 29, 2024, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
• Following the transaction, Mr. Stillwell directly owns 16,466 shares of Pegasystems common stock.
• This total does not include unvested restricted stock units or options awards.

Sentiment

Score: 5

Explanation: The document reflects a routine insider transaction under a pre-arranged plan, which is neither positive nor negative for the company's outlook.

Industry Context

Insider trading activity is a common occurrence in publicly traded companies, and this transaction is a routine disclosure of a pre-planned sale by a company executive.

Comparison to Industry Standards

• Sales by executives under 10b5-1 plans are common and are generally viewed as a way to avoid accusations of insider trading.
• The sale of 2,000 shares is not a large transaction relative to the total shares outstanding for Pegasystems, and is not unusual for an executive.

Stakeholder Impact

• The sale of shares by an executive may have a minor impact on investor sentiment, but is unlikely to have a significant impact on the share price given the pre-arranged nature of the sale.

Key Dates

Keywords

Pegasystems, insider trading, Form 4, Kenneth Stillwell, stock sale, Rule 10b5-1, COO, CFO