Tejada Jennifer 4

What Happened

• Jennifer Tejada, Executive Chair and director of PagerDuty (PD), exercised/converted a total of 463,501 derivative/share awards (358,400 on 2026-05-18 and 105,101 on 2026-05-19) at $2.00 per share (cost = $927,002) and sold the same 463,501 shares on the open market for total gross proceeds of $3,228,931 (sales on 5/18 and 5/19). The transactions were effectively a cashless exercise followed by immediate sales; gross proceeds minus exercise cost ≈ $2,301,929.
• The filing also reports derivative conversions listed with $0 proceeds that reflect the mechanics of the exercise/conversion (see footnotes).

Key Details

• Transaction dates: 2026-05-18 and 2026-05-19; Form 4 filed 2026-05-20 (no late filing indicated).
• Exercise price: $2.00 per share for 463,501 shares (total exercise cash paid ≈ $927,002).
• Sale prices (weighted averages): 358,400 shares sold 5/18 at $6.98 (range $6.68–$7.085); 105,101 shares sold 5/19 at $6.92 (range $6.78–$7.24). Total sale proceeds ≈ $3,228,931.
• Net cash to insider (roughly): $3,228,931 − $927,002 ≈ $2,301,929 (before taxes/fees).
• Shares owned after transaction: not specified in the provided filing details.
• Notable footnotes: sales were effected pursuant to a 10b5-1 trading plan adopted 9/10/2025 (F1); a portion of the shares represent restricted stock units (RSUs) (F2); weighted-average sale price ranges disclosed and available on request (F3, F4). Footnote F5 describes the original option vesting schedule.

Context

• This is a common pattern: exercising vested options or converting awards and immediately selling the resulting shares under a pre-established 10b5-1 plan. Such transactions are typically routine monetizations of vested compensation rather than a straightforward bullish or bearish signal.
• For retail investors: purchases by insiders can be more informative than routine sales. Here, Tejada did not end up increasing her stake—she converted/exercised awards and sold them under her trading plan.