Pegasystems (PEGA) John G. Higgins Exercises RSUs; Shares Withheld

What Happened

• John Gerard Higgins, Chief, Client & Partner Success at Pegasystems (PEGA), had restricted stock units (RSUs) convert to common stock on Sept 4–7, 2026. He converted a total of 6,098 RSUs (1,616 on 9/4; 2,202 on 9/5; 2,280 on 9/7).
• To cover tax withholding, 902 shares (9/4) were withheld at $37.72 ($34,023), 1,229 shares (9/5) at $37.36 ($45,915), and 1,273 shares (9/7) at $37.36 ($47,559), for a total withholding value of $127,497.
• Net effect: 6,098 shares were issued and 3,404 shares were withheld for taxes, leaving a net increase of 2,694 shares to Higgins’ holdings (shares owned after the transactions not provided in the supplied data).

Key Details

• Dates and prices:
  • 2026-09-04: 1,616 RSUs converted (M, $0.00); 902 shares withheld (F) at $37.72 = $34,023.
  • 2026-09-05: 2,202 RSUs converted (M, $0.00); 1,229 shares withheld (F) at $37.36 = $45,915.
  • 2026-09-07: 2,280 RSUs converted (M, $0.00); 1,273 shares withheld (F) at $37.36 = $47,559.
• Net change: +2,694 shares (6,098 acquired − 3,404 withheld).
• Shares owned after transaction: not reported in the provided filing excerpt.
• Footnotes:
  • F1: Each RSU equals the right to receive one share upon vesting.
  • F2: 25% of the RSUs vested on the Date Exercisable; remaining 75% vest in equal quarterly installments over the next three years.
• Transaction codes explained: M = exercise/conversion of derivative (RSU conversion here, $0 exercise price); F = shares withheld to satisfy tax withholding.
• Filing timeliness: no indication of a late filing in the provided data.

Context

• These transactions are routine RSU vesting and tax-withholding events (similar to a cashless settlement where shares are withheld for taxes), not open-market sales or purchases by the insider. Withholding to cover taxes is common and doesn't necessarily indicate a change in the insider’s view of the company.
• Because RSUs converted at $0, there was no cash exercise price paid; the withheld shares simply satisfied tax obligations associated with the vesting.