Pegasystems (PEGA) Form 144: 270,000 Shares Proposed Sale via Goldman Sachs

Rhea-AI Filing Summary

Form 144 filed for Pegasystems, Inc. (PEGA) shows an authorized notice to sell 270,000 shares of common stock through Goldman Sachs & Co. LLC, with an aggregate market value reported at $15,670,800 and approximately 171,080,665 shares outstanding. The shares to be sold are identified as Founders Shares acquired on 03/01/1983, with no cash payment recorded at acquisition. The proposed sale date is 09/16/2025. The filing also documents multiple insider sales by the same person during June–August 2025 totaling 243,000 shares and gross proceeds of approximately $16.26 million. The filer certifies no undisclosed material adverse information and includes standard Rule 144 disclosures.

Positive

• Full Rule 144 disclosure provided: the filing identifies broker, share class, acquisition date, and proposed sale date.
• Sells via established broker (Goldman Sachs): indicates use of an institutional market intermediary for the proposed transaction.
• Long-held founder shares: acquisition dated 03/01/1983 signals shares held for an extended period before disposition.

Negative

• Significant recent insider sales: 243,000 shares sold in June–August 2025, indicating meaningful insider liquidity activity.
• Additional proposed sale of 270,000 shares: further insider supply could be perceived negatively by some market participants.

Insights

Securities Analyst

TL;DR: Insider proposes further sales after recent significant disposals; total volumes are material relative to single-person activity.

The filing notifies a planned sale of 270,000 founder shares via Goldman Sachs on 09/16/2025, following 243,000 shares sold across June–August 2025. The document discloses acquisition as founder shares from 03/01/1983 and reports aggregate market value of the proposed block at $15,670,800. From a market-impact perspective, the filings indicate concentrated insider liquidity but do not state any new operational or financial developments for the company. This is a routine Form 144 disclosure of intended sales under Rule 144; the material investor implication is increased insider supply over the recent months.

Corporate Governance Expert

TL;DR: Repeated insider sales merit governance attention but form contains routine representations and no unusual conditions.

The filer represents compliance with Rule 144 and asserts no undisclosed material adverse information. The shares are identified as long-held founder shares acquired in 1983 and listed as being sold through an institutional broker. While repeated insider sales can raise stakeholder questions about insider disposition, the filing itself is procedural and contains no statements of company governance changes, departure notices, or compensatory arrangements. Documentation appears complete for a Form 144 notice.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Goldman Sachs & Co. LLC 200 West Street New York NY 10282	270000	15670800	171080665	09/16/2025	NASD

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	03/01/1983	Founders Shares	The Issuer			270000	03/01/1983	None

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Alan Trefler 225 Wyman Street Waltham MA 02451	Common Stock	06/17/2025	31500	3182838.75
Alan Trefler 225 Wyman Street Waltham MA 02451	Common Stock	08/05/2025	45000	2586879
Alan Trefler 225 Wyman Street Waltham MA 02451	Common Stock	06/18/2025	31500	3176091.45
Alan Trefler 225 Wyman Street Waltham MA 02451	Common Stock	07/10/2025	45000	2328678
Alan Trefler 225 Wyman Street Waltham MA 02451	Common Stock	08/06/2025	45000	2580970.5
Alan Trefler 225 Wyman Street Waltham MA 02451	Common Stock	07/09/2025	45000	2400142.5

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

Who is the filer and what is being reported in the PEGA Form 144?

The filing reports a proposed sale of 270,000 shares of Pegasystems common stock to be executed via Goldman Sachs & Co. LLC with aggregate market value $15,670,800.

When were the shares being sold originally acquired?

The shares to be sold are identified as Founders Shares acquired on 03/01/1983.

Have there been recent insider sales by the same person?

Yes. The filing lists six sales between June and August 2025 totaling 243,000 shares with gross proceeds of about $16.26 million.

What is the proposed date for the sale reported in this Form 144?

The approximate date of sale is listed as 09/16/2025.

Does the filing state any undisclosed material adverse information about the company?

The filer represents by signature that they do not know of any material adverse information about the issuer that has not been publicly disclosed.