Form 4: Pegasystems Executive Rifat Kerim Akgonul Reports Stock Transactions

Pegasystems Chief Product Officer, Rifat Kerim Akgonul, reports the vesting of restricted stock units and a sale of shares to cover tax obligations.

Summary

• Rifat Kerim Akgonul, Chief Product Officer at Pegasystems, reported a transaction involving the vesting of 1,139 restricted stock units on December 9, 2024.
• These units represent a 5% vesting of an original grant of 18,227 restricted stock units, with the initial 25% vesting occurring on March 7, 2024.
• The remaining 75% of the grant will vest in equal quarterly installments over the next three years.
• Additionally, 551 shares of common stock were sold at a price of $97.28 per share to cover tax withholding obligations.
• Following these transactions, Akgonul directly owns 48,301 shares of Pegasystems common stock, excluding unvested restricted stock units and options.

Sentiment

Score: 5

Explanation: The document reflects routine transactions related to executive compensation and does not indicate any significant positive or negative sentiment.

Future Outlook

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

Industry Context

This is a routine filing related to executive compensation and is common for publicly traded companies. It provides transparency into the stock transactions of company insiders.

Comparison to Industry Standards

• The vesting schedule of the restricted stock units, with a 25% initial vesting followed by quarterly vesting over three years, is a common practice in the tech industry for executive compensation.
• The sale of shares to cover tax obligations is also a standard practice for executives receiving equity compensation.
• Companies like Salesforce, Adobe, and Oracle also use similar vesting schedules and stock sales for tax purposes.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they involve a small number of shares relative to the total outstanding shares.
• The sale of shares by the executive may have a slight downward pressure on the stock price, but this is likely to be minimal.

Key Dates

Keywords

Pegasystems, stock, restricted stock units, vesting, insider trading, Form 4, executive compensation, Rifat Kerim Akgonul