Higgins John Gerard 4

What Happened
John Gerard Higgins, Chief, Client & Partner Success at Pegasystems (PEGA), had 2,202 restricted stock units (RSUs convert-to-shares event) vest/convert on March 5, 2026. Of those, 1,229 shares were surrendered to satisfy tax withholding at an imputed price of $47.05 per share (total value withheld ≈ $57,824). The conversion carried no exercise price (RSUs convert 1:1 to shares).

Key Details

• Transaction date: 2026-03-05; Filing date: 2026-03-09.
• Conversion/Exercise code: M (exercise or conversion of derivative — RSUs converting into common stock).
• Tax withholding code: F — 1,229 shares withheld at $47.05 per share for taxes (≈ $57,824).
• Shares shown as acquired on conversion: 2,202 shares (gross); shares surrendered for tax withholding: 1,229; net shares delivered to Higgins ≈ 973 shares.
• Footnotes: F1 — each RSU = right to one share on vesting; F2 — vesting schedule: 25% on the date exercisable, remainder vest in equal quarterly installments over three years.
• Shares owned after transaction: Not stated in the provided Form 4 excerpt.
• Filing timeliness: No late-filing flag provided in the excerpt.

Context
This was an RSU vest/settlement with share withholding to cover taxes (a common, administrative action), not an open-market sale or purchase. The withholding of 1,229 shares is effectively a cashless/tax-satisfaction step rather than a signal of active selling to the market.