Form 4: PegaSystems Executive John Gerard Higgins Reports Stock Transactions
SEC Form 4
John Gerard Higgins, Chief, Client & Partner Success at PegaSystems, reports the vesting and subsequent sale of common stock to cover tax obligations.
Summary
- On September 3, 2024, John Gerard Higgins, Chief, Client & Partner Success at PegaSystems, reported transactions involving PegaSystems common stock.
- These transactions included the vesting of restricted stock units (RSUs) and the subsequent tendering of shares to cover tax withholding obligations.
- The vesting of RSUs occurred in several tranches, originating from grants made between 2021 and 2024.
- A total of 1,251 RSUs vested on September 1, 2024, with a release date of September 3, 2024.
- The price per share for the shares tendered to cover tax obligations was $70.88.
- Following these transactions, Higgins directly owns 11,932 shares of PegaSystems common stock.
- He also holds derivative securities in the form of unvested restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard executive compensation practices; therefore, the sentiment is neutral.
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 minimal impact on stakeholders as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 06/01/2021 | Original grant date of 9,207 restricted stock units with 5% vesting. |
| 03/01/2022 | 20% vesting date for original grant of 1,842 restricted stock units. |
| 03/01/2023 | 20% vesting date for original grants of 1,844 and 10,285 restricted stock units. |
| 03/01/2024 | 20% vesting date for original grant of 1,845 restricted stock units. |
| 09/01/2024 | 5% vesting date for multiple restricted stock unit grants. |
| 09/03/2024 | Date of transactions reported (vesting and sale of shares). |
| 09/04/2024 | Date of Form 4 filing. |
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