Pagaya Technologies Executive Offloads 294K Shares as Stock Trades Near $20
Rhea-AI Filing Summary
Insider Trading Alert: Pagaya Technologies (PGY) Chief Technology Officer and Director Avital Pardo executed significant share sales through a pre-planned 10b5-1 trading plan. The transactions occurred over two consecutive days:
- On June 24, 2025: Disposed of 239,989 Class B Ordinary Shares at a weighted average price of $19.65 (range: $19.11-$19.96)
- On June 25, 2025: Sold additional 54,254 Class B Ordinary Shares at a weighted average price of $20.24 (range: $20.08-$20.60)
Following these transactions, Pardo's direct ownership decreased to 802,961 shares. All Class B Ordinary Shares were automatically converted to Class A Ordinary Shares upon sale. The transactions were executed under a 10b5-1 plan, indicating they were scheduled in advance to avoid concerns about insider trading.
Positive
- None.
Negative
- CTO Avital Pardo sold a total of 294,243 Class B Ordinary Shares (converted to Class A) for approximately $5.8M through a 10b5-1 plan, representing about 27% of reported holdings
Insights
CTO Pardo sold 26.8% of holdings (294,243 shares) via planned 10b5-1 sales while retaining 802,961 shares.
This Form 4 reveals Avital Pardo, Pagaya's Chief Technology Officer and Director, executed significant share sales through a pre-established 10b5-1 trading plan. On June 24-25, 2025, Pardo sold a total of 294,243 Class B Ordinary Shares at weighted average prices of $19.65 and $20.24 respectively. These transactions represent approximately 26.8% of Pardo's holdings.
The 10b5-1 plan nature of these sales is important to recognize. Such plans allow insiders to establish predetermined trading schedules to avoid accusations of trading on material non-public information. Pre-planned sales typically carry different signaling implications than spontaneous, discretionary transactions.
After completing these transactions, Pardo still maintains direct ownership of 802,961 shares, indicating continued equity alignment with the company despite the significant reduction. The filing notes that the Class B shares were converted to Class A shares upon sale, which is standard practice for insider transactions at Pagaya. The size of this transaction merits attention, as sales exceeding 25% of an executive's position often trigger investor interest regardless of the pre-planned nature.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class B Ordinary Share | 54,254 | $20.2389 | $1.10M |
| Sale | Class B Ordinary Share | 239,989 | $19.6523 | $4.72M |
Footnotes (1)
- Class B Ordinary Shares were converted to Class A Ordinary Shares upon sale. This sale was effected pursuant to a 10b5-1 plan, as noted on the form specific filing information. Weighted average price. These shares were sold in multiple transactions at prices ranging from $20.08 to $20.60 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above. Weighted average price. These shares were sold in multiple transactions at prices ranging from $19.11 to $19.96 inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
