Form 4: PegaSystems Executive Sells Shares Under Pre-Arranged Trading Plan
SEC Form 4 Filing
Rifat Kerim Akgonul, Chief Product Officer of PegaSystems, sold shares of common stock on May 1, 2025, under a pre-arranged trading plan.
Summary
- Rifat Kerim Akgonul, Chief Product Officer of PegaSystems Inc., sold shares of common stock on May 1, 2025.
- The sales were executed under a pre-arranged trading plan adopted on November 25, 2024, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
- A total of 2,000 shares were sold in two transactions at weighted average prices of $92.88 and $94.13.
- Following the reported transactions, Akgonul directly owns 44,640 shares of PegaSystems common stock, excluding unvested restricted stock units and/or options awards.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to insider trading. It doesn't inherently convey positive or negative sentiment, as it simply reports transactions.
Industry Context
This is a routine disclosure of insider trading activity. It is common for executives to set up 10b5-1 trading plans to diversify their holdings and avoid accusations of trading on inside information.
Stakeholder Impact
- The sale of shares by a company executive could be perceived negatively by some shareholders, although the existence of a pre-arranged trading plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 2024-11-25 | Date of adoption of the pre-arranged trading plan by Mr. Akgonul. |
| 2025-05-01 | Date of the reported transactions (sale of common stock). |
| 2025-05-05 | Date of signature on the Form 4 filing. |
Keywords
Form 4, PegaSystems, Akgonul, Insider Trading, Share Sale, Rule 10b5-1, Executive, PEGA
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