Pegasystems CAO sells 1,012 shares at $36.50

Pegasystems’ chief accounting officer exercised stock options, settled related obligations, and sold 1,012 shares while retaining option and restricted stock unit holdings.

Rhea-AI Filing Summary

PEGASYSTEMS INC (PEGA) senior vice president and chief accounting officer Efstathios A. Kouninis reported multiple equity transactions. On August 31, 2026 he exercised options for 2,500 shares at $16.95 per share, with 1,488 shares delivered or withheld to cover the exercise price or tax obligations and 1,012 shares sold at $36.50 per share. On September 1, 2026, 206 restricted stock units converted into common stock, with 51 shares delivered or withheld to cover obligations at $36.81 per share. After these transactions, he continues to hold 9,300 options and 412 restricted stock units, and the transactions are not reported as made under a Rule 10b5-1 trading plan.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 7 txns

Insider KOUNINIS EFSTATHIOS A

Role SVP, Chief Accounting Officer

Sold 1,012 shs ($37K)

Approx. gross sale proceeds $37K

Approx. exercise cost $42K

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units F2, F3	206	$0.00	$0.00
Exercise	Common stock	206	$0.00	$0.00
Exercise Price or Tax Liability	Common stock	51	$36.81	$2K
Exercise	Stock Options F1	2,500	$0.00	$0.00
Exercise	Common stock	2,500	$16.95	$42K
Exercise Price or Tax Liability	Common stock	1,488	$36.50	$54K
Sale	Common stock	1,012	$36.50	$37K

Holdings After Transaction: Stock Options — 9,300 contracts (Direct); Restricted Stock Units — 412 contracts (Direct); Common stock — 1,164 shares (Direct)

Footnotes (3)

1. F1. Options will vest in equal quarterly amounts over a four year period with the first vest occurring on February 2, 2023.
2. F2. Each restricted stock unit represents the right to receive, following vesting, one share of common stock.
3. F3. 20% of the restricted stock units vested on the Date Exercisable in Table II, and the remaining 80% vest in equal quarterly installments over the following four years.

Key Figures

Options exercised: 2,500 shares Option exercise price: $16.95 per share Shares sold: 1,012 shares +5 more

8 metrics

Options exercised 2,500 shares Stock options for common stock exercised on August 31, 2026

Option exercise price $16.95 per share Exercise price for 2,500 stock options exercised on August 31, 2026

Shares sold 1,012 shares Common stock sold on August 31, 2026

Sale price $36.50 per share Price for 1,012 common shares sold on August 31, 2026

Shares delivered or withheld (options event) 1,488 shares at $36.50 per share Common shares delivered or withheld on August 31, 2026 to cover exercise price or tax liability

Restricted stock units converted 206 units Restricted stock units converting into common stock on September 1, 2026

Shares delivered or withheld (RSU event) 51 shares at $36.81 per share Common shares delivered or withheld on September 1, 2026 to cover obligations

Remaining equity awards 9,300 options and 412 restricted stock units Post-transaction derivative and restricted stock unit holdings reported for the executive

Key Terms

Restricted Stock Units, Options, vest

3 terms

Restricted Stock Units financial

"Each restricted stock unit represents the right to receive, following vesting, one share of common stock."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Options financial

"Options will vest in equal quarterly amounts over a four year period with the first vest occurring on February 2, 2023."

Options are contracts that give investors the right to buy or sell an asset at a specific price within a certain time frame. They function like a reservation or a ticket that allows for potential profit or protection against price changes, making them useful tools for managing investment risks or speculating on market movements.

vest financial

"Options will vest in equal quarterly amounts over a four year period with the first vest occurring on February 2, 2023."

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

FAQ

What equity transactions did PEGA executive Efstathios A. Kouninis report on this Form 4?

He reported exercising stock options for 2,500 shares, converting 206 restricted stock units into common stock, delivering or withholding shares to cover obligations, and selling 1,012 shares of common stock in a reported sale transaction.

How many PEGA shares did the executive sell in the reported period?

Efstathios A. Kouninis reported selling 1,012 shares of Pegasystems common stock on August 31, 2026 at a reported price of $36.50 per share in a sale described as occurring in an open market or private transaction.

What stock options did the PEGA executive exercise and at what price?

On August 31, 2026, he exercised options covering 2,500 shares of Pegasystems common stock at an exercise price of $16.95 per share. These options are scheduled to vest in equal quarterly amounts over four years beginning February 2, 2023.

How many shares were used to cover exercise price or tax obligations in the PEGA Form 4?

The filing reports 1,488 shares of common stock delivered or withheld at $36.50 per share on August 31, 2026, and 51 shares delivered or withheld at $36.81 per share on September 1, 2026, to cover the option exercise price or tax liabilities.

What restricted stock unit activity did PEGA disclose for the executive?

On September 1, 2026, 206 restricted stock units converted into the right to receive one share of common stock each, with 51 shares delivered or withheld to cover obligations. After this, 412 restricted stock units remain outstanding for the executive.

What equity awards does the PEGA executive continue to hold after these transactions?

Following the reported transactions, Efstathios A. Kouninis continues to hold 9,300 stock options and 412 restricted stock units related to Pegasystems common stock, as reflected by the post-transaction balances stated in the Form 4 data.

Were the PEGA executive’s reported transactions made under a Rule 10b5-1 trading plan?

The filing indicates that the transactions are not reported as being made under a Rule 10b5-1 trading plan, based on the unchecked status of the plan affirmation on the Form 4.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/02/2026 - 04:03 PM Accepted by SEC EDGAR 09/02/2026 - 04:03 PM Learn about SEC filing dates

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).

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^*

KOUNINIS EFSTATHIOS A

(Last) (First) (Middle)

C/O PEGASYSTEMS INC.

225 WYMAN STREET, STE 300

(Street)

WALTHAM MASSACHUSETTS 02451

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Chief Accounting Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/31/2026

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

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

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

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	08/31/2026		M		2,500	A	$16.95	3,509	D
Common stock	08/31/2026		F		1,488	D	$36.5	2,021	D
Common stock	08/31/2026		S		1,012	D	$36.5	1,009	D
Common stock	09/01/2026		M		206	A	$0	1,215	D
Common stock	09/01/2026		F		51	D	$36.81	1,164	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
Stock Options	$16.95	08/31/2026		M			2,500	02/02/2023(1)	11/02/2032	Common stock	2,500	$0	9,300	D
Restricted Stock Units	$0	09/01/2026		M			206(2)	03/01/2023(3)	03/01/2027	Common stock	206	$0	412	D

Explanation of Responses:

1. Options will vest in equal quarterly amounts over a four year period with the first vest occurring on February 2, 2023.

2. Each restricted stock unit represents the right to receive, following vesting, one share of common stock.

3. 20% of the restricted stock units vested on the Date Exercisable in Table II, and the remaining 80% vest in equal quarterly installments over the following four years.

Remarks:

	/s/ Ewelina Kemp, Attorney-in-Fact for Efstathios A. Kouninis	09/02/2026
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)