John Gerard Higgins - 07 Mar 2023 Form 4 Insider Report for PEGASYSTEMS INC (PEGA)

Role
Chief, Client &Partner Success
Signature
s/ Jenna L. Burstyn, Attorney-in-Fact for John Gerard Higgins
Issuer symbol
PEGA
Transactions as of
07 Mar 2023
Net transactions value
$0
Form type
4
Filing time
09 Mar 2023, 16:54:09 UTC
Previous filing
03 Mar 2023
Next filing
05 Jun 2023
SEC
View on sec.gov

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 Award $0 +2,785 $0.000000 2,785 07 Mar 2023 Common stock 2,785 $0.000000 Direct F1, F2, F3
transaction PEGA Restricted Stock Units Award $0 +18,227 $0.000000 18,227 07 Mar 2023 Common stock 18,227 $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 Each restricted stock unit represents the right to receive, following vesting, one share of the issuer's common stock.
F2 Represents election by the individual, as part of the Company's Corporate Incentive Plan (CICP), to receive half of their annual bonus in RSUs, based upon the Company's stock price as of March 7, 2023. All RSUs vest 100% on March 7, 2024, subject to attainment of the CICP performance threshold funding for the year ending December 31, 2023.
F3 Once vested, the shares of common stock are not subject to expiration.
F4 RSUs will vest 25% on March 7, 2024, with the remaining 75% vesting in equal quarterly installments over the remaining three years.