DAS SANJIV 4

What Happened

• Sanjiv Das, President of Pagaya Technologies (PGY), converted/exercised 23,750 derivative securities into common stock (reported at $0.00) on 2026-06-12. On the same day he sold 13,309 shares in an open-market transaction at $16.23 per share for proceeds of $216,005. The filing also reports a disposition of 23,750 derivative shares at $0.00, which the filing ties to tax withholding from a compensatory award.

Key Details

• Transaction date: 2026-06-12; Filing date: 2026-06-16 (appears timely).
• Exercise/conversion: 23,750 shares @ $0.00 (reported as derivative exercise/conversion).
• Open-market sale: 13,309 shares @ $16.23 — proceeds $216,005.
• Derivative disposition: 23,750 shares @ $0.00 (reported as disposed); footnote F1 says sale was necessary to satisfy tax withholding obligations arising from vesting.
• Vesting note: Footnote F2 says the grant vests over two years in eight equal quarterly installments starting June 12, 2025.
• Shares owned after the transactions: not specified in this Form 4 (check the full filing for holdings).

Context

• This was an exercise/conversion of derivative securities (no cash exercise price reported) with an immediate partial sale. The filing and footnote indicate sales were routine and made to satisfy tax-withholding on a compensatory award rather than an outright market-timing decision. For retail investors, purchases can be more indicative of insider bullishness; this filing primarily documents conversion/vesting and tax-related sales.