Trefler Leon 4

4 · PEGASYSTEMS INC · Filed Feb 12, 2026

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Updated Feb 12, 2026

PEGA Chief of Clients & Markets Leon Trefler Receives 84,000-Share Award

What Happened

Leon Trefler, Pegasystems (PEGA) Chief of Clients & Markets, had 84,000 shares reported as acquired on Feb 10, 2026 as a derivative award (transaction code A). The Form 4 shows 84,000 shares at $0.00 per share (no cash reported). This was not an open-market purchase or sale but the vesting of previously granted performance-based options.

Key Details

Transaction date: 2026-02-10; Form 4 filed 2026-02-12 (timely filing).
Shares reported acquired: 84,000 (derivative award) at $0.00 per share.
Shares owned after the transaction: not specified in the provided filing excerpt.
Footnote: The options were granted March 5, 2024 with a two-step vesting schedule (25% after year 1 tied to FY2024 performance; 75% after year 2 tied to FY2025 performance). Pegasystems exceeded the FY2025 performance target (160%), triggering vesting as to 84,000 shares.
No indication in this filing that shares were immediately sold or that any tax-withholding shares were surrendered.

Context

This filing documents a performance-based option vesting (a compensation event), not a market buy or sale; such awards reflect executive compensation rather than a direct bullish or bearish trading signal.
For retail investors, vesting events increase insider-held shares but do not by themselves indicate the insider’s intent to buy or sell stock.

Form 4

Period: 2026-02-10

Chief of Clients and Markets

Transactions

Award
Stock Options
[F1]
2026-02-10+84,000→ 101,500 total
Exercise: $31.05From: 2025-03-05Exp: 2034-03-05→ Common stock (84,000 underlying)

Footnotes (1)

[F1]On March 5, 2024, the reporting person was granted an option to purchase shares of Pegasystems common stock. The option vests in two installments, with 25% to vest on the first anniversary of the date of grant based on the Pegasystems' satisfaction of certain performance criteria for the fiscal year ended December 31, 2024, and 75% to vest on the second anniversary of the date of grant based on Pegasystems' satisfaction of certain performance criteria for the fiscal year ended December 31, 2025. Pegasystems overachieved the performance criteria for the fiscal year ended December 31, 2025 at 160%, resulting in vesting of the option as to 84,000 shares.

Signature

/s/ Ewelina Kemp, Attorney-in-Fact for Leon Trefler|2026-02-12

1 file