Akgonul Rifat Kerim 4

What Happened
Akgonul Rifat Kerim, Chief Product Officer of Pegasystems, exercised/converted 2,278 restricted stock units (RSUs) on March 7, 2026. The RSUs converted at an effective exercise price of $0.00 per share. To satisfy tax withholding obligations, 669 shares were withheld at $47.24 per share for a total withholding value of $31,604, resulting in approximately 1,609 net shares delivered to the insider.

Key Details

• Transaction date: 2026-03-07; Form filed: 2026-03-10 (covers the March 7 transaction).
• Exercise/Conversion: 2,278 RSUs converted (code M), exercise price $0.00.
• Tax withholding: 669 shares withheld (code F) at $47.24/share = $31,604.
• Net shares received (approx.): 2,278 − 669 = 1,609 shares.
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes: F1 — each restricted stock unit equals one share upon vesting; F2 — the award vests 25% on the Date Exercisable with remaining 75% vesting quarterly over 3 years.
• Transaction codes: M = exercise/conversion of derivative (RSU settlement); F = shares withheld for tax withholding.

Context
This was an RSU vesting/settlement with shares withheld for taxes (a routine, administrative step often seen at vesting). The $0.00 exercise price and the use of share withholding indicate settlement of RSUs rather than a market purchase. Tax-withholding disposals are common and do not by themselves indicate a buy/sell signal about the insider’s view of the company.