PEGASYSTEMS (PEGA) CPO Akgonul Exercises RSUs; 2,950 Shares Withheld

What Happened

• Akgonul Rifat Kerim, Chief Product Officer of Pegasystems (PEGA), converted (exercised/vested) a total of 6,098 restricted stock units (derivative conversions) on Sept 4, 5 and 7, 2026. To satisfy tax withholding obligations, 2,950 of those shares were surrendered (disposed) at market prices, generating a withholding value of approximately $110,493. The insider received a net of about 3,148 shares after the withholding.
• This was not an open-market purchase or sale for investment purposes but a routine conversion/vesting event with shares withheld to cover tax liabilities.

Key Details

• Transaction dates and amounts:
  • 2026-09-04: 1,616 RSUs converted; 782 shares withheld at $37.72 = $29,497
  • 2026-09-05: 2,202 RSUs converted; 1,065 shares withheld at $37.36 = $39,788
  • 2026-09-07: 2,280 RSUs converted; 1,103 shares withheld at $37.36 = $41,208
  • Total converted: 6,098 RSUs; total withheld/disposed: 2,950 shares; total withholding value ≈ $110,493; net shares delivered ≈ 3,148.
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1 confirms each restricted stock unit equals one share on vesting. F2 notes 25% of the RSUs vested on the Date Exercisable and the remaining 75% vest in equal quarterly installments over the next three years.
• Transaction codes: M = option/derivative exercise or conversion; F = payment of exercise price or tax liability (share withholding).
• Filing: Report filed Sep 9, 2026, disclosing transactions from Sep 4–7, 2026 (no late-filing indication in the report).

Context

• This is a common “cashless” style outcome for vesting awards: RSUs convert to shares and a portion is withheld to cover taxes. Such transactions generally reflect compensation vesting rather than a deliberate buy/sell signal by the insider.