Vieira Cory 4

What Happened
Cory Vieira, Pagaya Technologies' Chief Accounting Officer, converted 5,208 derivative units into common shares and sold 2,140 of those shares in an open-market sale at $15.01 each, generating $32,121. The conversion/exercise is reported as derivative activity (code M); the sale is reported as an open-market sale (code S). This sale was done to satisfy tax withholding obligations related to a compensatory award and is routine rather than a directional buy signal.

Key Details

• Transaction date: June 2, 2026. Filing date: June 4, 2026 (filed within the usual two-business-day window).
• Conversion/exercise: 5,208 shares acquired via conversion/exercise of a derivative (code M) at $0.00 per share.
• Sale: 2,140 shares sold in the open market at $15.01 per share for proceeds of $32,121 (code S).
• Net shares retained from this conversion: approximately 3,068 shares (5,208 acquired minus 2,140 sold).
• Footnote F1: The sale was necessary to satisfy tax withholding obligations arising exclusively from the vesting of a compensatory award.
• Footnote F2: Half of the total 41,664 restricted stock units vested on December 2, 2025; the remaining RSUs vest over the following 12 months in four quarterly installments.
• Filing timeliness: Not reported as late.

Context

• The derivative activity reflects the vesting/conversion of a compensatory award (likely RSUs) rather than a market purchase; the subsequent sale was to cover withholding taxes (a common, routine action).
• Such tax-withholding sales should not be read as a strong signal of insider sentiment; purchases are typically more informative about confidence in the company.