Akgonul Rifat Kerim 4

What Happened

• Akgonul Rifat Kerim, Chief Product Officer of Pegasystems (PEGA), had restricted stock units (RSUs) convert into 1,176 shares on 2026-06-01 (reported 2026-06-02). The conversion is reported as an exercise/conversion of a derivative security (code M) at $0.00 per share (typical for RSU vesting).
• To cover tax withholding (code F), the company withheld 569 shares at an implied value of $35.73/share, totaling $20,330. After withholding, the net increase in Kerim’s common shares from this event is 607 shares (1,176 converted − 569 withheld).

Key Details

• Transaction date: 2026-06-01; Form 4 filed: 2026-06-02 (timely).
• Conversion (M): 1,176 RSUs → 1,176 common shares at $0.00.
• Tax withholding (F): 569 shares withheld at $35.73 = $20,330.
• Net new shares received: 607 shares.
• Shares owned after the transaction: not provided in the supplied data.
• Footnotes: F1 clarifies each RSU equals one share on vesting; F2 states 20% of the RSUs vested on the exercisable date and the remaining 80% vest in equal quarterly installments over the following four years.
• This was a vesting/conversion with company tax withholding—not an open-market sale or purchase.

Context

• This is a routine RSU vesting and tax-withholding event. The conversion (code M) simply converts derivative units (RSUs) into common shares; the tax-withholding (code F) is common practice where shares are withheld to satisfy tax obligations. These actions are administrative and do not necessarily signal a buy/sell decision by the insider.