STILLWELL KENNETH 4

What Happened

• Kenneth Stillwell, Pegasystems’ COO and CFO, had 4,402 restricted stock units convert into common shares on 2026-03-05 (reported on Form 4 filed 2026-03-09). The conversion showed an acquisition of 4,402 shares at $0 (RSU vesting). To satisfy withholding for taxes, 1,733 of those shares were surrendered at an effective value of $47.05 each, totaling about $81,538. Net shares issued to Stillwell after withholding: 2,669.

Key Details

• Transaction date: 2026-03-05; Form 4 filed: 2026-03-09 (timely — within the two business-day reporting requirement).
• Conversion price shown: $0.00 (typical for vested RSUs); tax withholding: 1,733 shares at $47.05 = $81,538.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: F1 — each restricted stock unit equals one common share on vesting. F2 — vesting schedule: 25% vested on the Date Exercisable (table II) and the remaining 75% vest in equal quarterly installments over the following three years.
• Transaction codes: M = conversion/exercise of derivative (RSU conversion here), F = shares withheld to cover tax liability.

Context

• This was a vesting/conversion event (award settlement), not an open-market buy or discretionary sale. The withholding of shares to cover taxes is common and does not by itself indicate a bullish or bearish signal from the insider.
• The filing shows both the derivative conversion and the shares withheld for taxes (a cashless-like settlement for tax purposes). No late filing or 10b5-1 plan is indicated in the provided data.