Pegasystems (PEGA) SVP/Chief Accounting Officer Kouninis Exercises Options and Sells Shares

What Happened

• Efstathios A. Kouninis, SVP and Chief Accounting Officer of Pegasystems (PEGA), exercised/converted equity and disposed of shares. On Aug 31, 2026 he exercised options to acquire 2,500 shares at $16.95 per share (exercise cost $42,375). On Sep 1, 2026 he had an additional 206-share conversion reported at $0.00. To satisfy tax withholding and for open-market sales he disposed of 1,488 shares on Aug 31 at $36.50 ($54,312), sold 1,012 shares on Aug 31 at $36.50 ($36,938), and an additional 51 shares on Sep 1 at $36.81 ($1,877). Total disposed = 2,551 shares for total proceeds ≈ $93,127. Net from these transactions: +155 shares (2,706 acquired − 2,551 disposed). These appear to be routine exercises with shares withheld/sold to cover tax obligations and some sold in the open market.

Key Details

• Transaction dates and prices:
  • 2026-08-31: Exercised 2,500 options @ $16.95 (paid $42,375).
  • 2026-08-31: 1,488 shares withheld for tax @ $36.50 (proceeds/withholding value $54,312).
  • 2026-08-31: Open-market sale of 1,012 shares @ $36.50 (proceeds $36,938).
  • 2026-09-01: Conversion/exercise of 206 units @ $0.00; 51 shares withheld/sold for tax @ $36.81 (value $1,877).
• Total disposed: 2,551 shares for ≈ $93,127; total cash paid to exercise (reported) $42,375.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: F1 — options vest quarterly over four years (first vest 2/2/2023). F2 — restricted stock units (RSUs) convert 1:1 to common shares. F3 — 20% of RSUs vested on the reported date; remaining 80% vest quarterly over four years.
• Transaction codes: M = option exercise/conversion; F = shares surrendered for tax withholding; S = open-market sale.
• Timeliness: Form filed 2026-09-02 for transactions on 2026-08-31 and 2026-09-01 — filing appears timely (not marked late).

Context

• This pattern (exercise and immediate withholding/sale) is a common cashless-style outcome: shares are converted/exercised and some are withheld or sold to cover tax liabilities, with some sold on the open market. Such transactions are procedural and do not, by themselves, indicate the insider's view of the company.