Higgins John Gerard 4

What Happened

• John Gerard Higgins, Chief, Client & Partner Success at Pegasystems (PEGA), had restricted stock units (RSUs) convert into common shares on 2026-06-01. A total of 1,396 shares were acquired upon vesting (1,028 + 184 + 184).
• To satisfy tax withholding, 780 of those shares were surrendered (574 + 103 + 103) at a per-share withholding value of $35.73, totaling approximately $27,869. Net new shares received by Higgins were 616 (1,396 acquired − 780 withheld).
• These transactions are reported as derivative exercises (code M) with tax withholding disposals (code F). The derivative “disposed” lines reflect conversion/settlement of RSUs rather than an open-market sale for cash.

Key Details

• Transaction date: 2026-06-01; Form 4 filed 2026-06-02.
• Vesting/conversion: 1,028; 184; 184 shares (total 1,396) recorded as acquired (M).
• Tax withholding: 574; 103; 103 shares (total 780) withheld/disposed at $35.73/share, proceeds reported ≈ $20,509, $3,680, $3,680 (total ≈ $27,869) — coded F.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes: F1 — each RSU equals one share upon vesting; F2 — 20% of the RSU award vested on the exercisable date, with the remaining 80% vesting in equal quarterly installments over the next four years.
• Filing timeliness: not indicated as late in the provided data.

Context

• This was a routine RSU vesting and net-share settlement to cover tax obligations (common practice). It is effectively a conversion of derivative awards into shares with portion withheld for taxes, not an open-market sale to generate cash.
• Transaction codes: M = exercise/conversion of derivative (RSU conversion here); F = payment of exercise price or tax liability (share withholding).
• Such withholding transactions generally reflect standard compensation administration and should not be interpreted as a directional trade decision by the insider.