KOUNINIS EFSTATHIOS A 4

What Happened
Efstathios Kouninis, SVP and Chief Accounting Officer of Pegasystems (PEGA), had restricted stock units (RSUs) vest and converted them into 764 shares on June 4–5, 2026. Of those, 187 shares were withheld to cover tax liabilities (79 shares at $35.11 = $2,774 on June 4; 108 shares at $35.44 = $3,828 on June 5), a total withholding value of $6,602. The RSU conversions show an exercise/conversion price of $0.00, indicating these were vested awards converting into shares rather than a cash purchase.

Key Details

• Transaction dates: June 4, 2026 and June 5, 2026.
• Conversions (code M): 324 shares (6/4) and 440 shares (6/5) — total 764 shares acquired via RSU conversion.
• Withholding/tax disposition (code F): 79 shares at $35.11 ($2,774) and 108 shares at $35.44 ($3,828) — total $6,602.
• Net shares received (retained): 764 − 187 = 577 shares.
• Footnotes: F1 — each RSU = right to one share on vesting; F2 — 25% of the RSUs vested on the Date Exercisable and the remaining 75% vest in equal quarterly installments over the next three years.
• Filing: Report filed 2026-06-08 for transactions on 2026-06-04–05; filing appears timely (within required business-day window).
• Shares owned after transaction: not specified in the provided filing excerpt.

Context
This was a conversion of vested RSUs (no cash purchase price) with shares withheld to satisfy tax obligations — a common administrative result of equity vesting, not a typical open-market sale or purchase signal. The filing uses codes M (exercise/conversion of derivative) and F (payment of exercise price or tax liability) to reflect the conversion and tax withholding.