EFSTATHIOS A. KOUNINIS - 02 Jun 2022 Form 4 Insider Report for PEGASYSTEMS INC (PEGA)

Role: VP of Finance & CAO
Signature: /s/ Jenna L. Burstyn, Attorney-in-Fact for Efstathios A. Kouninis
Issuer symbol: PEGA
Transactions as of: 02 Jun 2022
Net transactions value: -$653
Form type: 4
Filing time: 03 Jun 2022, 17:28:27 UTC
Previous filing: 09 Mar 2022
Next filing: 07 Jun 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PEGA	Common stock	Options Exercise	$0	+53	+1.9%	$0.000000	2,828	02 Jun 2022	Direct	F1
transaction	PEGA	Common stock	Tax liability	$653	-13	-0.46%	$50.26	2,815	02 Jun 2022	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PEGA	Restricted Stock Units	Options Exercise	$0	-53	-6.3%	$0.000000	793	02 Jun 2022	Common stock	53	$0.000000	Direct	F1, F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents a 5% vesting on June 2, 2022. The original grant was 1,057 restricted stock units, with 20% vesting on March 2, 2022, with the remaining 80% vesting in equal quarterly installments over the remaining four years
F2	Does not include shares of common stock subject to unvested restricted stock units and/or options awards.
F3	Each restricted stock unit represents the right to receive, following vesting, one share of the issuer's common stock.
F4	Once vested, the shares of common stock are not subject to expiration.