Perros Evangelos 4

What Happened
Evangelos Perros, a former officer of Pagaya Technologies (PGY), exercised or converted 20,625 derivative securities into common stock (reported at $0.00 exercise price) on 2026-06-12. On the same day he sold 11,558 shares in an open market transaction at $16.23 per share, generating proceeds of $187,586. The filing shows the sale was to satisfy tax withholding obligations related to the vesting of a compensatory award.

Key Details

• Transaction date: 2026-06-12; Filing date: 2026-06-16 (filed 4 days after the transaction; Form 4 is generally due within 2 business days).
• Exercise/conversion: 20,625 derivative shares acquired at $0.00.
• Sale: 11,558 shares sold at $16.23, total proceeds $187,586.
• Footnote F1: The sale was necessary to satisfy tax withholding obligations arising exclusively from the vesting of a compensatory award.
• Footnote F2: The related grant vests over two years in eight equal quarterly installments beginning June 12, 2025.
• Shares owned after the transaction: not specified in this filing.

Context
The filing includes both an exercise/conversion (derivative code M) and an immediate open-market sale to cover taxes — a routine "cashless" outcome common when awards vest. Because the sale was explicitly to meet tax withholding (F1), it is generally considered administrative rather than a market signal of confidence or concern. The vesting schedule (F2) indicates additional installments will vest quarterly through the two-year period.