Form 4: Pegasystems VP of Finance & CAO, Efstathios A. Kouninis, Reports Stock Transactions
SEC Form 4 Filing
Efstathios A. Kouninis, VP of Finance & CAO at Pegasystems, reported the vesting and subsequent sale of restricted stock units to cover tax obligations.
Summary
- Efstathios A. Kouninis, VP of Finance & CAO at Pegasystems, filed a Form 4 detailing transactions involving Pegasystems common stock.
- On December 2, 2024, 103 restricted stock units vested from a grant made on March 1, 2023, and 53 restricted stock units vested from a grant made on March 2, 2022.
- A total of 26 shares were sold at $94.97 per share to cover tax obligations related to the vesting of the 103 restricted stock units.
- An additional 13 shares were sold at $94.97 per share to cover tax obligations related to the vesting of the 53 restricted stock units.
- Following these transactions, Mr. Kouninis directly owns 117 shares of Pegasystems common stock, not including unvested restricted stock units and/or options awards.
Sentiment
Score: 5
Explanation: The document is a routine filing of stock transactions by a company executive. There is no indication of positive or negative sentiment, it is a neutral event.
Industry Context
This is a routine filing for a company insider, and the transactions are related to the vesting of previously granted stock options and the subsequent sale of shares to cover tax obligations. This type of activity is common among executives and does not indicate any specific trend or issue with the company.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, and the transactions reported are typical for executives with stock-based compensation.
- The vesting schedule of the restricted stock units, with a portion vesting initially and the remainder over several years, is a common practice to incentivize long-term performance and retention.
- The sale of shares to cover tax obligations is also a standard practice and does not indicate any unusual activity.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to the vesting of previously granted stock options and the subsequent sale of shares to cover tax obligations.
- The transactions do not have a direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 03/01/2023 | Original grant date for 2,057 restricted stock units, with 20% vesting on this date and the remaining 80% vesting in equal quarterly installments over the remaining four years. |
| 03/02/2022 | Original grant date for 1,057 restricted stock units, with 20% vesting on this date and the remaining 80% vesting in equal quarterly installments over the remaining four years. |
| 12/02/2024 | Date of the reported transactions, including vesting of restricted stock units and sale of shares for tax obligations. |
| 12/03/2024 | Date the Form 4 was signed. |
Keywords
Form 4, Pegasystems, Stock Transactions, Restricted Stock Units, Insider Trading, Vesting, Tax Withholding, Beneficial Ownership
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