Akgonul Rifat Kerim 4

What Happened
Akgonul Rifat Kerim, Chief Product Officer of Pegasystems (PEGA), had 2,202 restricted stock units (RSUs) convert into common shares on March 5, 2026. The RSU conversion shows an exercise/conversion price of $0.00 (no cash exercise cost). To satisfy tax withholding, 647 shares were disposed/withheld at $47.05 per share for a withholding value of $30,441, leaving a net delivery of 1,555 shares to the insider.

Key Details

• Transaction date: 2026-03-05 (reported on Form 4 filed 2026-03-09, within SEC timeliness requirements).
• Conversion: 2,202 RSUs converted to 2,202 shares (code M, $0.00).
• Tax withholding: 647 shares withheld/disposed at $47.05 each, totaling $30,441 (code F).
• Net shares delivered to insider: 2,202 − 647 = 1,555 shares.
• Footnotes: F1—each RSU equals one share upon vesting; F2—vesting schedule: 25% vested on the Date Exercisable, remaining 75% vest quarterly over three years.
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context
This was a routine vesting/conversion of RSUs and a tax-withholding disposition, not an open-market buy or sale intended as a trading signal. The withholding of shares (code F) is common practice to cover tax liabilities on vested awards. Because the conversion had no exercise price, it reflects compensation vesting rather than a cash purchase.