Form 4: Pegasystems VP of Finance Exercises Stock Options and Sells Shares

Pegasystems' VP of Finance, Efstathios A. Kouninis, exercised stock options and sold shares to cover taxes on November 11, 2024.

Summary

• Efstathios A. Kouninis, VP of Finance & CAO at Pegasystems, executed transactions involving the company's common stock on November 11, 2024.
• He exercised 1,000 stock options at a price of $44.3 per share.
• To cover the tax liability associated with the option exercise, 625 shares were withheld by the company at a price of $88 per share.
• Additionally, Mr. Kouninis sold 375 shares at $88 per share.
• Following these transactions, Mr. Kouninis directly owns 0 shares of common stock, not including unvested restricted stock units and/or options awards.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing standard stock option exercises and share sales, which is neither positive nor negative.

Industry Context

This is a routine filing related to executive compensation and is common for publicly traded companies. It reflects the standard practice of executives exercising stock options and selling shares to cover taxes.

Comparison to Industry Standards

• The vesting schedule of the stock options, with 20% vesting after one year and the remaining 80% vesting quarterly over four years, is a common practice in the tech industry.
• The use of a cashless exercise, where shares are withheld to cover taxes, is also a standard practice to simplify the process for the executive.

Stakeholder Impact

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

Key Dates

Keywords

stock options, insider trading, share sale, executive compensation, Form 4, Pegasystems, PEGA