Form 4: PegaSystems VP of Finance Efstathios Kouninis Reports Stock Transactions
SEC Form 4 Filing
Efstathios Kouninis, VP of Finance & CAO of PegaSystems, reports transactions involving common stock and restricted stock units, including acquisitions from vesting and disposals to cover tax obligations.
Summary
- Efstathios A. Kouninis, VP of Finance & CAO at PegaSystems, filed a Form 4 detailing changes in beneficial ownership of the company's stock on June 3, 2024.
- The transactions include the acquisition of common stock through the vesting of restricted stock units.
- Kouninis also disposed of shares to satisfy tax withholding obligations.
- The reported transactions resulted in a net change in Kouninis's holdings of PegaSystems common stock.
- Following the reported transactions, Kouninis directly owns 1,377 shares of common stock, excluding unvested restricted stock units and/or option awards.
- The transactions involved the vesting of restricted stock units granted on March 1, 2023, March 2, 2022, and March 3, 2021.
- The price for shares disposed of to cover tax obligations was $57.46.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Positives
- The vesting of restricted stock units indicates that Kouninis is meeting the conditions of his equity compensation plan.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 03/03/2021 | Original grant date of 1,533 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 of 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. |
| 03/01/2023 | Original grant date of 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. |
| 06/01/2024 | 5% vesting of restricted stock units granted on March 1, 2023. |
| 06/02/2024 | 5% vesting of restricted stock units granted on March 2, 2022. |
| 06/03/2024 | Date of transactions reported on Form 4, including vesting of restricted stock units and disposal of shares for tax obligations; 5% vesting of restricted stock units granted on March 3, 2021. |
| 06/04/2024 | Date of signature on the Form 4 filing. |
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