The cluster is too small relative to market cap to signal material bearish conviction. Monitor for any upcoming earnings or guidance events that may have prompted routine portfolio diversification by these executives. No immediate trading action warranted.
Price Chart
Executive Summary
Two C-suite insiders at Pegasystems (COO/CFO Kenneth Stillwell and CPO Rifat Kerim Akgonul) sold a combined $1.67M in open-market sales on September 11, 2026. The total represents just 0.027% of PEGA's $6.2B market cap, making this a routine cluster with no material signaling value.
Key Financial Metrics
Key Facts
- COO/CFO Kenneth Stillwell sold 39,627 shares at $35.77 for $1.42M
- Chief Product Officer Rifat Kerim Akgonul sold 7,000 shares at $36.03 for $252K
- Both sales occurred on September 11, 2026
- Total cluster value of $1.67M represents 0.027% of PEGA's $6.2B market cap
- No insider buying in the cluster window
Financial Impact
$1.67M in insider sales, representing 0.027% of market cap
Risk Factors
- Insider sales could accelerate if broader market or sector weakness emerges
- CFO selling may attract scrutiny from activist investors or short sellers despite small size
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-PEGA-1789539076439 |
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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