Monitor for follow-up selling by other insiders; assess whether this is routine post-vesting exercise or early signal of reduced confidence. No material financial impact expected.
Price Chart
Executive Summary
Pegasystems CPO Rifat Kerim executed a series of derivative exercises and open-market sales over two days, generating $1.39 million in proceeds from the sale of 15,682 shares. The majority of share dispositions were due to tax withholding and option exercises, not open-market selling.
Key Financial Metrics
Key Facts
- CPO Rifat Kerim sold 15,682 shares in open-market transactions on March 11 and March 16, generating $681,857 in proceeds.
- Total value of open-market sales in the cluster: $681,857 (approx. 0.0095% of $7.2B market cap).
- Kerim exercised options for 120,000 shares across four transactions, with cashless exercises totaling 60,000 shares at $0 exercise price.
- Tax withholding accounted for surrender of 44,318 shares valued at $1.92 million, a non-cash event.
- All activity was conducted by a single insider (C-suite executive), with no board or other executive participation.
Financial Impact
$681,857 in net open-market selling by CPO; $1.92M in tax-related share surrender; $1.42M in option exercise value.
Risk Factors
- Perception of insider selling could weigh on sentiment if misinterpreted.
- Dilution from 120,000 newly exercised shares, though immaterial at current scale.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CONTEXT: Insider Cluster Data (8 trades, 7d window) | cluster-PEGA-1773777749362 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | Court Ruling | $36.42 | awaiting T+20 | — | $36.71 (+0.80%) |
Oct 21, 2026 6d 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 6w 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 33w ago | Insider Cluster | $44.66 $41.20 | ▼ −7.74% | ▼ −7.59% | $36.71 (−17.80%) |
US Market Status
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