Form 4: PegaSystems Executive John Gerard Higgins Reports Stock Transactions
SEC Form 4 Filing
John Gerard Higgins, Chief, Client & Partner Success at PegaSystems, reports the vesting and subsequent sale of common stock to cover tax obligations.
Summary
- On June 3, 2024, John Gerard Higgins, Chief, Client & Partner Success at PegaSystems, executed multiple 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 tranches related to grants from 2021, 2022, 2023 and 2024.
- A total of 1,158 RSUs vested and converted to common stock.
- A total of 700 shares were tendered to the issuer to satisfy tax obligations at a price of $57.46 per share.
- Following these transactions, Higgins directly owns 10,693 shares of PegaSystems common stock.
- Higgins also holds derivative securities in the form of restricted stock units.
Sentiment
Score: 5
Explanation: The document reflects routine executive stock transactions, indicating a neutral sentiment.
Industry Context
Executive stock transactions are a normal part of corporate governance and compensation practices. They provide insights into executive sentiment and alignment with shareholder interests.
Stakeholder Impact
- The transactions have a minimal impact on shareholders 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 on June 1, 2021, with the remaining 95% vesting in 5% quarterly installments. |
| 03/01/2022 | 20% vesting date for original grant of 1,842 restricted stock units with the remaining 80% vesting in 5% equal quarterly installments over the remaining four years. |
| 03/01/2023 | 20% vesting date for original grant of 10,285 restricted stock units, with the remaining 80% vesting in 5% equal quarterly installments over the remaining four years. |
| 03/01/2023 | 20% vesting date for original grant of 1,844 restricted stock units with the remaining 80% vesting in 5% equal quarterly installments over the remaining four years. |
| 03/01/2024 | 20% vesting date for original grant of 1,845 restricted stock units with the remaining 80% vesting in 5% equal quarterly installments over the remaining four years. |
| 06/03/2024 | Date of transactions: vesting of RSUs and tendering of shares for tax obligations. |
| 06/04/2024 | Date of signature on the Form 4 filing. |
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