Pagaya Technologies (PGY) president vests 22,916 RSUs

Rhea-AI Filing Summary

Pagaya Technologies Ltd. president Sanjiv Das exercised restricted stock units into ordinary shares in a routine equity award event. On October 16, 2025, he exercised 22,916 Restricted Stock Units, receiving the same number of Class A Ordinary Shares at a conversion price of $0.00 per share. A footnote explains this transaction relates to an award of 183,333 RSUs, with one quarter vesting on April 16, 2024 and the remainder vesting in six equal quarterly installments beginning July 16, 2024.

Insider Trade Summary

22,916 shares exercised/converted

Mixed 1 txn

Insider DAS SANJIV

Role President

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	22,916	$0.00	--

Holdings After Transaction: Restricted Stock Unit — 0 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

RSUs exercised: 22,916 units Underlying shares acquired: 22,916 shares Exercise price: $0.00 per share +3 more

6 metrics

RSUs exercised 22,916 units Restricted Stock Units exercised on October 16, 2025

Underlying shares acquired 22,916 shares Class A Ordinary Shares received from RSU exercise

Exercise price $0.00 per share Conversion or exercise price for RSUs

Original RSU award size 183,333 RSUs Total RSUs initially subject to this award

Initial vesting date April 16, 2024 One quarter of RSUs vested on this date

Installment vesting start July 16, 2024 Six equal quarterly installments began on this date

Key Terms

Restricted Stock Unit, derivative exercise/conversion, Class A Ordinary Share, vesting

4 terms

Restricted Stock Unit financial

"security_title: "Restricted Stock Unit""

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

derivative exercise/conversion financial

"transaction_action: "derivative exercise/conversion""

Class A Ordinary Share financial

"underlying_security_title: "Class A Ordinary Share""

A Class A ordinary share is a type of common stock a company issues that carries a specific set of rights—most often particular voting power, dividend terms, or transfer rules—distinct from other share classes. For investors it matters because those rights affect control over company decisions, how income is paid out, and how easy shares are to buy or sell; think of it like a tiered ticket that gives different access and influence at the same event.

vesting financial

"the remaining RSUs vested thereafter in 6 equal quarterly installments"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

Form 4 Insider Transactions: What Each Field Means →

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^*

DAS SANJIV

(Last) (First) (Middle)

C/O PAGAYA TECHNOLOGIES LTD.

335 MADISON AVENUE, 16TH FLOOR

(Street)

NEW YORK NEW YORK 10017

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Pagaya Technologies Ltd. [ PGY ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/16/2025

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)
10/20/2025

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

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
Restricted Stock Unit	$0	10/16/2025		M			22,916	(1)	(1)	Class A Ordinary Share	22,916	$0	0	D

Explanation of Responses:

1. 1/4th of the total 183,333 RSUs initially subject to this award vested on April 16, 2024, and the remaining RSUs vested thereafter in 6 equal quarterly installments beginning on July 16, 2024.

Remarks:

This amendment is being filed solely to correct the number of restricted stock units under this award beneficially owned following the reported transaction.

	/s/Eric Watson, Attorney-in-Fact	04/20/2026
	** 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)

FAQ

What insider transaction did Pagaya (PGY) report for Sanjiv Das?

Pagaya reported that president Sanjiv Das exercised 22,916 Restricted Stock Units into an equal number of Class A Ordinary Shares on October 16, 2025. This was a derivative exercise at a conversion price of $0.00 per share, reflecting a scheduled equity award event.

How many Pagaya RSUs did Sanjiv Das exercise in this Form 4/A?

Sanjiv Das exercised 22,916 Restricted Stock Units in this filing. Each unit converted into one Class A Ordinary Share, so he acquired 22,916 shares in total through this derivative exercise rather than through an open-market stock purchase.

Was the Pagaya (PGY) Form 4/A transaction a stock sale by Sanjiv Das?

No, the transaction was not a stock sale. It is coded as “M,” indicating an exercise or conversion of a derivative security, specifically Restricted Stock Units, into Class A Ordinary Shares, with no open-market sale reported in this filing.

What vesting schedule applies to Sanjiv Das’s 183,333 Pagaya RSU award?

The 183,333 RSUs had one quarter vest on April 16, 2024. According to the footnote, the remaining RSUs vested in six equal quarterly installments beginning on July 16, 2024, making the October 16, 2025 transaction part of this scheduled vesting.

What type of security did Sanjiv Das exercise in the Pagaya Form 4/A?

He exercised a derivative security described as a Restricted Stock Unit. Each RSU converted into a Class A Ordinary Share at a stated conversion or exercise price of $0.00, turning compensation-based units into actual equity without a cash purchase.

Does Sanjiv Das have remaining Pagaya RSUs from this specific award after the transaction?

For this particular RSU award, the filing shows zero derivative securities remaining following the transaction. That indicates the 22,916-unit exercise completed the visible RSU position from this grant in the data provided.