PEGA insider Alan Trefler reports 90,000‑share sale via 10b5‑1

Rhea-AI Filing Summary

Pegasystems (PEGA) CEO, Chairman and 10% owner Alan N. Trefler reported open‑market sales totaling 90,000 shares on 10/21–10/22/2025 pursuant to a pre‑arranged Rule 10b5‑1 trading plan adopted on November 6, 2024.

Reported weighted‑average sale prices by tranche included $54.62, $55.88, $56.91, $57.41 on 10/21 and $62.77, $63.64, $64.76, $65.33, and $66.25 on 10/22, with corresponding price ranges available upon request.

Following these transactions, direct beneficial ownership was 44,934,364 common shares. Indirect holdings were reported as 10,876,525 (Alan N. Trefler Irrevocable Non‑GST Trust of 2022), 10,879,283 (Grantor Retained Annuity Trust I of 2024), 8,703,426 (Grantor Retained Annuity Trust II of 2024), and 2,071,585 (The Trefler 2025 Trust).

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

TREFLER ALAN

(Last) (First) (Middle)

C/O PEGASYSTEMS INC.

225 WYMAN STREET, STE 300

(Street)

WALTHAM MA 02451

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PEGASYSTEMS INC [ PEGA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	C.E.O. & Chairman

3. Date of Earliest Transaction (Month/Day/Year)
10/21/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common stock								10,876,525	I	Alan N. Trefler Irrevocable Non-GST Trust of 2022
Common stock								10,879,283	I	Alan N. Trefler Grantor Retained Annuity Trust I of 2024
Common stock								8,703,426	I	Alan N. Trefler Grantor Retained Annuity Trust II of 2024
Common stock								2,071,585	I	The Trefler 2025 Trust
Common stock	10/21/2025		S		4,506(1)	D	$54.62(2)	45,019,858	D
Common stock	10/21/2025		S		5,158(1)	D	$55.88(3)	45,014,700	D
Common stock	10/21/2025		S		20,374(1)	D	$56.91(4)	44,994,326	D
Common stock	10/21/2025		S		14,962(1)	D	$57.41(5)	44,979,364	D
Common stock	10/22/2025		S		11,742(1)	D	$62.77(6)	44,967,622	D
Common stock	10/22/2025		S		5,636(1)	D	$63.64(7)	44,961,986	D
Common stock	10/22/2025		S		17,824(1)	D	$64.76(8)	44,944,162	D
Common stock	10/22/2025		S		9,740(1)	D	$65.33(9)	44,934,422	D
Common stock	10/22/2025		S		58(1)	D	$66.25(10)	44,934,364	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Sold pursuant to a pre-arranged trading plan adopted by Mr. Trefler on November 6, 2024 under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.

2. Represents the weighted average of sale prices, ranging from $54.18 to $55.15. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.

3. Represents the weighted average of sale prices, ranging from $55.23 to $56.22. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.

4. Represents the weighted average of sale prices, ranging from $56.24 to $57.24 . The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.

5. Represents the weighted average of sale prices, ranging from $57.25 to $57.62. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.

6. Represents the weighted average of sale prices, ranging from $62.16 to $63.16. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.

7. Represents the weighted average of sale prices, ranging from $63.16 to $64.16. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.

8. Represents the weighted average of sale prices, ranging from $64.17 to $65.17. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.

9. Represents the weighted average of sale prices, ranging from $65.18 to $66.04. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.

10. Represents the weighted average of sale prices, ranging from $66.23 to $66.27. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.

Remarks:

	/s/ Ewelina Kemp, Attorney-in-Fact for Alan Trefler	10/23/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

How many PEGA shares did Alan Trefler sell, and on what dates?

He sold 90,000 shares on 10/21–10/22/2025.

Were the PEGA insider sales under a Rule 10b5-1 plan?

Yes. Sales were made pursuant to a Rule 10b5‑1 plan adopted on November 6, 2024.

What prices did the PEGA shares sell for in these transactions?

Weighted‑average prices included $54.62, $55.88, $56.91, $57.41, $62.77, $63.64, $64.76, $65.33, and $66.25.

What is Alan Trefler’s direct beneficial ownership after the transactions?

Direct beneficial ownership was 44,934,364 common shares after the reported sales.

What indirect PEGA holdings were reported for Alan Trefler?

Indirect holdings reported: 10,876,525 (Irrevocable Non‑GST Trust 2022), 10,879,283 (GRAT I 2024), 8,703,426 (GRAT II 2024), 2,071,585 (The Trefler 2025 Trust).

Did the filing report any derivative securities activity?

No derivative transactions were listed in Table II.