Monitor for additional insider selling in the next 30 days; current activity appears consistent with routine option exercises and tax planning, not a strong negative signal given low dollar volume relative to market cap.
Price Chart
Executive Summary
Multiple C-suite executives at Pegasystems, including the CFO and Chief Product Officer, conducted stock transactions over a 7-day period, primarily involving derivative exercises and tax-related share withholdings. The cluster includes $2.6M in open-market sales, with the largest sale by CFO Kenneth Stillwell, representing modest insider selling activity.
Key Financial Metrics
Key Facts
- CFO Kenneth Stillwell sold $1.97M in open-market transactions.
- Chief Product Officer Rifat Akgonul sold $352K in shares and surrendered $953K in shares for tax withholding.
- All derivative exercises were non-cash events (totaling 0 economic value).
- Total open-market sales: $2.6M across three insiders.
- Total cluster value (open-market sales only): ~0.036% of $7.2B market cap — below 0.1% threshold for materiality.
- No open-market purchases observed; all buying was via derivative exercises.
Financial Impact
$2.6M in open-market sales, primarily from CFO and C-suite executives
Risk Factors
- Perception of insider confidence erosion if selling continues in coming weeks.
- Concentration of selling among top executives (CFO, COO, CPO) could raise questions despite routine nature.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CONTEXT: Insider Cluster Data (18 trades, 7d window) | cluster-PEGA-1773433172167 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | Court Ruling | $36.42 | awaiting T+20 | — | $36.71 (+0.80%) |
Oct 21, 2026 5d ago | Court Ruling | $36.65 | awaiting T+20 | — | $36.71 (+0.16%) |
Oct 20, 2026 6d ago | 8-K | $35.18 | awaiting T+20 | — | $36.71 (−4.35%) |
Sep 17, 2026 5w ago | Insider Cluster | $35.02 $34.54 | ▼ −1.37% | ▼ −1.57% | $36.71 (+4.83%) |
Sep 15, 2026 5w ago | Insider Cluster | $36.84 $33.83 | ▼ −8.17% | ▼ −10.23% | $36.71 (−0.35%) |
Sep 15, 2026 5w ago | Insider Cluster | $36.84 $33.83 | ▲ +8.17% | ▲ +10.23% | $36.71 (+0.35%) |
Jun 8, 2026 20w ago | 8-K | $34.16 $32.21 | ▼ −5.71% | ▼ −7.15% | $36.71 (+7.46%) |
Apr 24, 2026 26w ago | DEFA14A | $36.77 $34.33 | ▼ −6.64% | ▼ −11.59% | $36.71 (−0.16%) |
Apr 21, 2026 26w ago | 8-K | $37.48 $33.50 | ▲ +10.62% | ▲ +13.78% | $36.71 (+2.05%) |
Mar 10, 2026 32w ago | Insider Cluster | $44.66 $41.20 | ▼ −7.74% | ▼ −7.59% | $36.71 (−17.80%) |
US Market Status
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