Tejada Jennifer 4

What Happened

• Jennifer Tejada, Executive Chair and Director of PagerDuty (PD), exercised/converted derivative awards and sold a total of 398,947 shares in mid‑July 2026. On July 16 she exercised 302,100 shares at $2.00 ($604,200) and sold those shares at a weighted average price of $10.70 for proceeds of $3,232,470. On July 17 she exercised/converted 96,847 shares at $2.00 ($193,694) and sold them at a weighted average price of $10.41 for proceeds of $1,008,468. Combined gross proceeds from the sales were $4,240,938; total pre‑tax exercise cost was $797,894 (net cash realized ≈ $3.44M).

Key Details

• Transaction dates: July 16, 2026 (302,100 shares) and July 17, 2026 (96,847 shares).
• Sale prices (weighted averages): $10.70 (range $10.50–$10.7001) and $10.41 (range $10.29–$10.74); per‑trade breakdowns available from filer on request (see footnotes).
• Exercise price: $2.00 per share for both groups; filing also shows conversion lines at $0.00 reflecting conversion of derivative awards into common stock.
• Footnotes: Trades were effected pursuant to a prearranged 10b5‑1 trading plan adopted Sept 10, 2025 (footnote F1). Footnote F2 notes a portion of the shares represent restricted stock units (RSUs).
• Post‑transaction holdings: the filing does not state the insider’s remaining shares after these transactions.
• Filing date: Form 4 filed July 20, 2026. (No late‑filing indication in the document.)

Context

• This was an exercise/conversion of derivatives followed by immediate open‑market sales (i.e., a cash‑raising transaction rather than an outright open‑market purchase). Such “exercise then sell” transactions are commonly used to cover exercise costs, taxes or diversify, and are typically routine when done under a 10b5‑1 plan.
• The presence of a 10b5‑1 plan and RSU conversions indicates these trades were pre‑arranged and/or tied to vested awards; they should not be read as a timing signal of management’s view beyond what the filer discloses.