Pegasystems (PEGA) SVP & Chief Accounting Officer Exercises Options, Sells Shares

What Happened
Efstathios A. Kouninis, SVP and Chief Accounting Officer of Pegasystems (PEGA), exercised 2,500 stock options on 2026-09-03 at a strike price of $16.95, acquiring shares with an intrinsic cost of $42,375. To satisfy tax withholding and/or cover the transaction, 1,437 shares were withheld (payment of tax liability) valued at $55,684 and 1,063 shares were sold in an open-market transaction at $38.75 for $41,191. All 2,500 shares received from the exercise were disposed (1,437 withheld + 1,063 sold), producing gross proceeds of $96,875 from the dispositions.

Key Details

• Transaction date: 2026-09-03 (exercise and dispositions).
• Exercise: 2,500 options at $16.95 = $42,375 (code M = option exercise).
• Tax withholding: 1,437 shares at $38.75 = $55,684 (code F = tax/payment).
• Open-market sale: 1,063 shares at $38.75 = $41,191 (code S = sale).
• Net shares retained from this exercise: 0 (2,500 acquired and 2,500 disposed).
• Footnote: F1 — the options vest in equal quarterly amounts over four years; first vesting occurred Feb 2, 2023.
• Filing timeliness: Reported the same day (no late filing indicated in this record).

Context and interpretation
This was an option exercise combined with withholding and an open-market sale—commonly a cashless or partially cashless exercise to cover taxes and/or exercise costs. Such transactions are routine for option holders and do not, by themselves, indicate a change in the insider’s view of the company. Transaction codes: M = option exercise, F = tax withholding/payment, S = open-market sale.