SEC Form 4 · accession 0001209191-17-038568
PEGASYSTEMS INC · PEGA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael R Pyle
Officer — Senior VP, Engineering
Period of report
Jun 6, 2017
Accepted (ET)
Jun 8, 2017 · 4:46 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001013857
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jun 6, 2017 | M | 4,000 | $0.00 | A | 29,769 | D | |
| Common StockF1 | Jun 6, 2017 | F | 2,096 | $59.65 | D | 27,673 | D | |
| Common StockF2,F3 | Jun 6, 2017 | S | 1,523 | $60.09 | D | 26,150 | D | |
| Common StockF4 | Jun 7, 2017 | M | 440 | $0.00 | A | 26,590 | D | |
| Common Stock | Jun 7, 2017 | F | 208 | $60.60 | D | 26,382 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionsF5 | $6.00 | Jun 6, 2017 | M | 4,000 | D | Dec 13, 2008 | Dec 13, 2017 | Common Stock | 32,000 | 8,000 | D |
| Restricted Stock UnitsF6,F4,F7 | $0.00 | Jun 7, 2017 | M | 440 | D | Mar 7, 2015 | — | Common Stock | 8,798 | 3,080 | D |
Explanation of responses
- F1Represents the exercise price of the Stock Options referenced in Table II and Mr. Pyle's tax liability, which were paid by way of withholding by the Company of shares of equal value.
- F2Sold pursuant to a pre-arranged stock trading plan under rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
- F3Represents the weighted average of the sale prices on June 6, 2017, ranging from $59.60 to $60.35.
- F4Represents 5% vesting on June 7, 2017. The original grant was 8798 restricted stock units, with 20% vesting on March 7, 2015, and the remaining 80% vesting in equal quarterly installments over the remaining 4 years.
- F5Options vested 20% on December 13, 2008, with the remaining 80% vesting in equal quarterly installments over the next four years.
- F6Each restricted stock unit represents the right to receive, following vesting, one share of Pegasystems Inc.'s common stock.
- F7Once vested, the shares of common stock are not subject to expiration.