Form 4: PegaSystems Executive Rifat Kerim Akgonul Sells Shares Under Pre-Arranged Trading Plan

Rifat Kerim Akgonul, Chief Product Officer of PegaSystems, sold shares of common stock on April 1, 2024, under a pre-arranged trading plan.

Summary

• On April 1, 2024, Rifat Kerim Akgonul, the Chief Product Officer of PegaSystems Inc., sold shares of the company's common stock.
• The sales were executed under a pre-arranged trading plan adopted on November 9, 2023, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
• A total of 800 shares were sold at a weighted average price of $63.08, with individual prices ranging from $62.56 to $63.46.
• An additional 1,200 shares were sold at a weighted average price of $64.14, with individual prices ranging from $63.61 to $64.20.
• Following these transactions, Mr. Akgonul directly owns 55,785 shares of PegaSystems common stock.
• The reported holdings do not include unvested restricted stock units or option awards, but include shares acquired on March 31, 2024, through the company's stock purchase plan.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. It's neutral in sentiment as it simply reports transactions.

Industry Context

Insider sales are a common occurrence, and pre-arranged trading plans like Rule 10b5-1 are often used to avoid accusations of trading on inside information. The filing provides transparency into the transactions of company executives.

Stakeholder Impact

• The stock sale by a key executive could have a minor negative impact on shareholder sentiment, although the pre-arranged nature of the sale mitigates this concern.

Key Dates