The activity reflects routine post-exercise tax settlement and modest divestiture, not broad-based insider selling. Traders should monitor for follow-up open-market sales or commentary around executive sentiment ahead of earnings.
Price Chart
Executive Summary
A cluster of insider transactions at Pegasystems Inc. (PEGA) over the past week includes significant share dispositions by the Chief Product Officer, primarily through derivative exercises and tax withholding, alongside open-market sales totaling approximately $1.38 million. The Chief Accounting Officer also conducted a modest open-market sale. Most of the value stems from non-cash transactions related to option exercises and tax settlements.
Key Financial Metrics
Key Facts
- Chief Product Officer Rifat Kerim exercised options for 60,000 shares (two tranches of 30,000), generating $709,200 in value.
- 22,406 shares were surrendered for tax withholding at $43.36, valued at $971,524.16 — a non-cash transaction.
- Kerim sold 7,594 shares in the open market for $329,503.66.
- SVP and Chief Accounting Officer Efstathios Kouninis sold 1,000 shares for $42,880.
- Total open-market sales: $372,383.66; total non-cash transactions: $1,680,724.16.
Financial Impact
Total insider dispositions: $2.05 million ($372K open-market sales, $1.68M non-cash). Open-market sales represent ~0.005% of $7.3B market cap.
Risk Factors
- Perception of insider selling could weigh on sentiment despite being tax-related.
- Concentration of activity among C-suite may amplify market interpretation.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CONTEXT: Insider Cluster Data (5 trades, 7d window) | cluster-PEGA-1773950791213 |
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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