Akgonul Rifat Kerim 4

What Happened
Akgonul Rifat Kerim, Chief Product Officer at Pegasystems (PEGA), had 2,278 restricted stock units (RSUs) convert to common shares on June 7, 2026. To cover tax withholding, 1,102 of those shares were surrendered at $34.71 per share for a total withholding of $38,250, leaving a net issuance of 1,176 shares to the insider. This transaction reflects routine vesting and tax withholding, not an open-market purchase or sale for investment purposes.

Key Details

• Transaction date: 2026-06-07 (reported on Form 4 filed 2026-06-09). Filing appears timely.
• Conversion: 2,278 RSUs converted to shares (reported as derivative exercise/conversion, code M) at $0.00 per share.
• Tax withholding: 1,102 shares withheld/disposed (code F) at $34.71 per share = $38,250.
• Net shares issued to insider: 2,278 − 1,102 = 1,176 shares.
• Shares owned after transaction: not specified in the provided Form 4 excerpt.
• Footnotes: F1 clarifies each RSU equals one common share upon vesting. F2 notes the award vested 25% on the Date Exercisable with the remaining 75% vesting in equal quarterly installments over the next 3 years.

Context
This was a vesting/tax-withholding event (common when RSUs vest). The structure—conversion of RSUs with share-withholding to satisfy taxes—is effectively a cashless settlement for tax obligations and does not indicate a market purchase or sale intent.