Pagaya CFO reports RSU vesting, 2,183-share sale

Pagaya’s CFO reported RSU vesting into shares and a small sale solely to cover tax withholding, with a substantial RSU balance still outstanding.

Rhea-AI Filing Summary

Pagaya Technologies Ltd. (PGY) Chief Financial Officer Jonathan Dobres reported equity-compensation activity and a small sale of Class A Ordinary Shares. On September 15, 2026, 4,375 restricted stock units vested and were settled into 4,375 Class A shares, part of a July 1, 2026 grant of 34,995 RSUs scheduled to vest in eight equal quarterly installments beginning September 15, 2026, leaving 30,620 RSUs outstanding. On September 17, 2026, he sold 2,183 shares at $21.04 per share to satisfy tax withholding obligations arising exclusively from the vesting of this compensatory award. No Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 3 txns

Insider Dobres Jonathan

Role Chief Financial Officer

Sold 2,183 shs ($46K)

Approx. gross sale proceeds $46K

Approx. exercise cost $0.00

Type	Security	Shares	Price	Value
Sale	Class A Ordinary Share F1	2,183	$21.04	$46K
Exercise	Restricted Stock Unit F2	4,375	$0.00	$0.00
Exercise	Class A Ordinary Share	4,375	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 30,620 contracts (Direct); Class A Ordinary Share — 9,758 shares (Direct)

Footnotes (2)

1. F1. Sale of securities was necessary to satisfy tax withholding obligations arising exclusively from the vesting of a compensatory award.
2. F2. On July 1, 2026, the reporting person was granted 34,995 restricted stock units, vesting in eight equal quarterly installments beginning on September 15, 2026.

Key Figures

Shares sold: 2,183 shares Sale price per share: $21.04 per share RSUs vested and settled: 4,375 units/shares +3 more

6 metrics

Shares sold 2,183 shares Class A Ordinary Shares sold by the CFO on September 17, 2026

Sale price per share $21.04 per share Price for 2,183 Class A Ordinary Shares sold on September 17, 2026

RSUs vested and settled 4,375 units/shares Restricted stock units vested and converted into Class A shares on September 15, 2026

RSU grant size 34,995 restricted stock units Grant to the CFO on July 1, 2026, vesting in eight quarterly installments

Remaining RSU holdings 30,620 restricted stock units Direct RSU holdings reported after the September 15, 2026 vesting

Number of vesting installments 8 installments Quarterly vesting schedule beginning September 15, 2026 for the 34,995 RSU grant

Key Terms

Restricted Stock Unit, tax withholding obligations, vesting, compensatory award

4 terms

Restricted Stock Unit financial

"The reporting person was granted 34,995 restricted stock units, vesting in eight equal"

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.

tax withholding obligations financial

"Sale of securities was necessary to satisfy tax withholding obligations arising"

vesting financial

"arising exclusively from the vesting of a compensatory award"

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.

compensatory award financial

"arising exclusively from the vesting of a compensatory award"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Pagaya Technologies (PGY) CFO Jonathan Dobres report in this Form 4?

He reported 4,375 RSUs vesting into 4,375 Class A Ordinary Shares on September 15, 2026, and a sale of 2,183 shares on September 17, 2026, undertaken to satisfy tax withholding obligations from that vesting.

How many Pagaya (PGY) shares did the CFO sell and at what price?

He sold 2,183 Class A Ordinary Shares on September 17, 2026, at a price of $21.04 per share. A footnote states the sale was necessary to satisfy tax withholding obligations from the vesting of a compensatory award.

Was the Pagaya (PGY) CFO’s share sale part of a Rule 10b5-1 trading plan?

No. The filing indicates no Rule 10b5-1 plan is reported for these transactions, and the document-level Rule 10b5-1 checkbox is not checked.

What RSU grant does the Pagaya (PGY) Form 4 describe for the CFO?

On July 1, 2026, he was granted 34,995 restricted stock units, vesting in eight equal quarterly installments beginning on September 15, 2026. The reported 4,375-unit vesting corresponds to one such installment.

How many Pagaya (PGY) RSUs does the CFO hold after this vesting event?

After the September 15, 2026 vesting and related activity, the filing reports that he holds 30,620 restricted stock units directly.

What new Pagaya (PGY) shares did the CFO acquire through RSU vesting?

Through settlement of vested RSUs on September 15, 2026, he acquired 4,375 Class A Ordinary Shares at an effective price of $0.00 per share, reflecting conversion of a compensatory RSU award into shares.

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

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Available on EDGAR 09/17/2026 - 05:36 PM Accepted by SEC EDGAR 09/17/2026 - 05:35 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^*

Dobres Jonathan

(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)
	Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2026

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
Class A Ordinary Share	09/15/2026		M		4,375	A	$0	11,941	D
Class A Ordinary Share	09/17/2026		S(1)		2,183	D	$21.04	9,758	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
Restricted Stock Unit	$0	09/15/2026		M			4,375	(2)	(2)	Class A Ordinary Share	4,375	$0	30,620	D

Explanation of Responses:

1. Sale of securities was necessary to satisfy tax withholding obligations arising exclusively from the vesting of a compensatory award.

2. On July 1, 2026, the reporting person was granted 34,995 restricted stock units, vesting in eight equal quarterly installments beginning on September 15, 2026.

Remarks:

	/s/ Eric Watson, Attorney-in-Fact	09/17/2026
	** 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)