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 335 restricted stock units on December 3, 2024.
• These units represent a 5% vesting of an original grant of 6,687 restricted stock units.
• The initial 20% of the grant vested on March 3, 2021, with the remaining 80% vesting in equal quarterly installments over four years.
• Akgonul also disposed of 162 shares of common stock at a price of $94.48 per share to cover tax withholding obligations.
• Following these transactions, Akgonul directly owns 47,713 shares of Pegasystems common stock, not including unvested restricted stock units or options.

Sentiment

Score: 7

Explanation: The document reflects routine executive stock transactions, which are neither positive nor negative for the company's overall performance. It is a neutral event.

Industry Context

This is a routine filing related to executive compensation and is typical for publicly traded companies.

Comparison to Industry Standards

• The vesting schedule of the restricted stock units, with an initial 20% vesting followed by quarterly installments, is a common practice in the tech industry for executive compensation.
• The sale of shares to cover tax obligations is also a standard procedure for executives receiving equity compensation.

Stakeholder Impact

• The transactions have a minimal impact on shareholders as they are part of standard executive compensation practices.

Key Dates

Keywords

Pegasystems, stock transaction, restricted stock units, insider trading, executive compensation, vesting, tax withholding