[144] Pagaya Technologies Ltd. SEC Filing

Rhea-AI Filing Summary

Form 144 filed for Pagaya Technologies Ltd. (PGY) reports a proposed sale of 15,026 common shares by or for an insider through Morgan Stanley Smith Barney, with an aggregate market value of $446,121.94 and an approximate sale date of 10/01/2025 on NASDAQ. The shares were acquired as Restricted Stock Units (RSUs) on 06/12/2025 and paid on that date.

The filing also lists prior sales by the same person during the past three months: 7/03/2025 sale of 13,821 shares for $302,028.93, and two 9/15/2025 sales totaling 13,870 shares for combined gross proceeds of $571,448.94. The filer certifies they are not aware of undisclosed material adverse information and, if applicable, references any Rule 10b5-1 trading plan.

Positive

• Regulatory compliance: The filer provided required Form 144 details including broker, number of shares, market value, and acquisition information.
• Shares acquired as RSUs: The securities to be sold were acquired on 06/12/2025 as Restricted Stock Units, indicating compensation-related origin rather than an external purchase.

Negative

• Insider selling activity: Proposed sale of 15,026 shares and recent sales of 27,691 shares in the past three months are reported, totaling 42,717 shares transacted or planned.
• Significant gross proceeds reported: Recent sales generated approximately $873,477.87 in gross proceeds, which may be interpreted by some investors as insider liquidity.

Insights

Financial Analyst

TL;DR: Routine insider sale of recently vested RSUs; disclosure shows modest proceeds relative to typical corporate volumes.

The filing documents a proposed sale of 15,026 shares acquired as RSUs on 06/12/2025, with an indicated market value of $446,121.94 and an intended sale through Morgan Stanley on NASDAQ. Recent executed sales totaling 27,691 shares over July and September generated approximately $873,477.87 in gross proceeds. This pattern is consistent with monetizing compensation awards rather than extraordinary corporate events. No earnings, restructuring, or material nonpublic information is disclosed in the form.

Corporate Governance Expert

TL;DR: Disclosure appears complete and compliant; repeated sales suggest routine insider liquidity, possibly under a trading plan.

The Form 144 includes required details: class, broker, number of shares, acquisition date and nature (RSUs), and recent sales history. The filer affirms absence of undisclosed material adverse information and references potential reliance on Rule 10b5-1 practices for prior sales. From a governance perspective, the filing meets regulatory transparency expectations for insider dispositions.

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	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	15026	446121.94	65319849	10/01/2025	NASDAQ

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	06/12/2025	Restricted Stock Units	Issuer			15026	06/12/2025	N/A

* 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
10b5-1 Sales for TAMI ROSEN 335 Madison Avenue, 16th Floor New York NY 10017	Common	09/15/2025	5833	244986.00
TAMI ROSEN 335 Madison Avenue, 16th Floor New York NY 10017	Common	09/15/2025	8037	326462.94
10b5-1 Sales for TAMI ROSEN 335 Madison Avenue, 16th Floor New York NY 10017	Common	07/03/2025	13821	302028.93

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

What does Pagaya Technologies (PGY) Form 144 report?

The Form 144 reports a proposed sale of 15,026 common shares (aggregate market value $446,121.94) to be sold approximately on 10/01/2025 on NASDAQ.

How were the shares being sold acquired?

The shares were acquired as Restricted Stock Units (RSUs) on 06/12/2025, with payment recorded on that date.

Has the filer sold other Pagaya (PGY) shares recently?

Yes. The filing shows sales in the past three months: 07/03/2025 sale of 13,821 shares for $302,028.93, and two 09/15/2025 sales totaling 13,870 shares for combined gross proceeds of $571,448.94.

Which broker is handling the proposed sale?

The proposed sale lists Morgan Stanley Smith Barney LLC at 1 New York Plaza, 8th Floor, New York, NY as the broker/executing firm.

Does the filer state they have undisclosed material information?

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