PEGA SVP Efstathios Kouninis Exercises RSUs, Withholds Shares

What Happened Efstathios Kouninis, SVP and Chief Accounting Officer of Pegasystems (PEGA), had restricted stock units (RSUs) vest and were converted into common shares on Sept. 4–7, 2026. A total of 1,096 shares were acquired through conversion of RSUs (322 on 9/4, 440 on 9/5, 334 on 9/7) at $0 (code M). To satisfy tax withholding obligations, 269 shares were surrendered (79 on 9/4 at $37.72; 108 on 9/5 at $37.36; 82 on 9/7 at $37.36), totaling approximately $10,079 (code F). Net result: Kouninis retained 827 additional shares (1,096 acquired minus 269 withheld). These transactions are routine vesting and tax-withholding, not open-market purchases or discretionary sales.

Key Details

• Transaction dates and prices:
  • 2026-09-04: 322 RSUs converted → 322 shares acquired (M); 79 shares withheld at $37.72 (F) = $2,980
  • 2026-09-05: 440 RSUs converted → 440 shares acquired (M); 108 shares withheld at $37.36 (F) = $4,035
  • 2026-09-07: 334 RSUs converted → 334 shares acquired (M); 82 shares withheld at $37.36 (F) = $3,064
• Total acquired: 1,096 shares; total withheld/surrendered for taxes: 269 shares (~$10,079); net shares added: 827.
• Footnotes: F1 confirms each RSU entitles holder to one share upon vesting. F2 notes a vesting schedule (25% vested on the Date Exercisable, remaining 75% vest quarterly over three years).
• Filing info: Period of report 2026-09-04; Form filed 2026-09-09. No late-filing flag supplied in the provided data.

Context

• These transactions reflect RSU vesting with net-share settlement: RSUs converted to shares (no exercise price), and a portion of shares were withheld/surrendered to cover tax withholding—common for employee equity awards and not necessarily a market sentiment signal.
• For retail investors: net share additions from vesting are informative (Kouninis increased his holdings by 827 shares), but tax-withholding sales are routine and should not be interpreted as a directional sell decision.