EFSTATHIOS A. KOUNINIS - 06 Sep 2023 Form 4 Insider Report for PEGASYSTEMS INC (PEGA)

Role: VP of Finance & CAO
Signature: /s/ Ewelina Kemp, Attorney-in-Fact for Efstathios A. Kouninis
Issuer symbol: PEGA
Transactions as of: 06 Sep 2023
Net transactions value: -$1,186
Form type: 4
Filing time: 08 Sep 2023, 18:03:52 UTC
Previous filing: 06 Sep 2023
Next filing: 15 Sep 2023
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	+98	+56%	$0.000000	272	06 Sep 2023	Direct	F1
transaction	PEGA	Common stock	Tax liability	$1,186	-24	-8.8%	$49.41	248	06 Sep 2023	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	-98	-33%	$0.000000	195	06 Sep 2023	Common stock	0	$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 September 6, 2023. The original grant was 1,952 restricted stock units, with 20% vesting on March 6, 2020, and 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.