[Form 4] Pagaya Technologies Ltd. Insider Trading Activity

Rhea-AI Filing Summary

Pagaya Technologies Ltd. insider Form 4: Director Avi Zeevi reported two distributions of Class A ordinary shares received in kind from related Viola funds on 09/23/2025 and 09/24/2025. The 09/23/2025 distribution shows 6,384 shares acquired, increasing Zeevi's reported beneficial ownership to 72,696 Class A shares. The 09/24/2025 distribution shows 76,319 shares acquired, increasing reported beneficial ownership to 149,015 Class A shares. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person on 09/25/2025. The filings state the shares were distributed in kind to partners of Viola Ventures IV Principals Fund, L.P. and Viola Ventures 4, L.P.

Positive

• Timely disclosure of insider transactions filed and signed by attorney-in-fact on 09/25/2025
• Clear reporting of shares received via distributions in kind with specific share counts and resulting beneficial ownership

Negative

• None.

Insights

Financial Analyst

TL;DR: Director acquired additional Class A shares via in-kind distributions; no cash transactions reported.

The Form 4 discloses two non‑cash acquisitions by Director Avi Zeevi totaling 82,703 Class A shares across 09/23/2025 and 09/24/2025, described as distributions in kind from two Viola-related funds. The report lists resulting beneficial ownership levels of 72,696 and 149,015 shares after each transaction. These entries are presented as routine partner distributions rather than open‑market purchases or option exercises; the filing contains no price paid and lists transaction codes consistent with non‑cash distributions.

Corporate Governance Expert

TL;DR: Disclosure complies with Section 16 timing; transactions are transfers from affiliated funds.

The Form 4 identifies Avi Zeevi as a director and reports timely disclosure with an attorney‑in‑fact signature dated 09/25/2025. The transactions are characterized as distributions in kind to partners of Viola Ventures IV Principals Fund, L.P. and Viola Ventures 4, L.P., indicating indirect ownership flows from affiliated investment vehicles. The filing does not disclose any change in officer role or other corporate governance actions.

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
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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).

1. Name and Address of Reporting Person^*

Zeevi Avi

(Last) (First) (Middle)

C/O PAGAYA TECHNOLOGIES LTD.

335 MADISON AVENUE, 16TH FLOOR

(Street)

NEW YORK NY 10017

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/23/2025

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
Class A Ordinary Share	09/23/2025	09/23/2025	J(1)		6,384	A	$0	72,696	D
Class A Ordinary Share	09/24/2025	09/24/2025	J(2)		76,319	A	$0	149,015	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. Shares were acquired by the Reporting Person through a distribution in kind to the partners of Viola Ventures IV Principals Fund, L.P.

2. Shares were acquired by the Reporting Person through a distribution in kind to the partners of Viola Ventures 4, L.P.

Remarks:

	/s/ Natalie Wilmore, Attorney-in-Fact	09/25/2025
	** 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).
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.

FAQ

What transactions did Pagaya (PGY) director Avi Zeevi report on Form 4?

The Form 4 reports two in-kind distributions of Class A ordinary shares: 6,384 shares on 09/23/2025 and 76,319 shares on 09/24/2025.

How many Class A shares does Avi Zeevi beneficially own after the reported transactions?

The filings show reported beneficial ownership levels of 72,696 shares after the 09/23/2025 transaction and 149,015 shares after the 09/24/2025 transaction.

Were the Pagaya shares acquired by Avi Zeevi purchased or received in another way?

The Form 4 indicates the shares were received as distributions in kind to partners of Viola Ventures IV Principals Fund, L.P. and Viola Ventures 4, L.P., not as open‑market purchases.

Who signed the Form 4 for Avi Zeevi and when was it signed?

The Form 4 was signed by Natalie Wilmore, Attorney-in-Fact on 09/25/2025.

What reporting status does Avi Zeevi have with Pagaya Technologies Ltd.?

The Form 4 identifies Avi Zeevi as a Director of Pagaya Technologies Ltd.