PGY Insider Sale: Director Disposes 2,828 Shares Under 10b5-1 Plan
Rhea-AI Filing Summary
Dan Petrozzo, a director of Pagaya Technologies Ltd. (PGY), reported the sale of 2,828 Class A ordinary shares on 09/15/2025. The Form 4 shows the shares were disposed at a weighted average price of $41.4315, and the reporting person retained beneficial ownership of 93,450 shares after the transaction.
The filing discloses the sale was effected pursuant to a 10b5-1 trading plan, and that the individual sale transactions occurred at prices ranging from $39.57 to $41.97. The Form 4 was signed by an attorney-in-fact on 09/17/2025.
Positive
- Sale executed under a 10b5-1 plan, indicating the transaction was prearranged and compliant with insider trading rules
- Transparent price disclosure including weighted-average price ($41.4315) and explicit price range ($39.57 to $41.97)
- Filer identified relationship as Director and provided post-transaction beneficial ownership (93,450 shares)
Negative
- Insider sale of 2,828 shares may attract investor scrutiny even if planned
- Materiality relative to total outstanding shares not provided, limiting assessment of impact on share supply or ownership percentage
Insights
TL;DR: Director executed a planned sale of 2,828 shares under a 10b5-1 plan; remaining ownership is 93,450 shares.
The transaction is a straightforward insider disposition disclosed on Form 4. The sale was processed under a pre-established 10b5-1 plan, which typically signals a prearranged, rule-compliant liquidity event rather than opportunistic trading. The weighted-average price reported is $41.4315, with actual trade prices between $39.57 and $41.97, which the filer documents and offers to detail if requested. From a market-impact perspective, the size of the sale relative to reported remaining holdings is modest, but materiality relative to total outstanding shares is not disclosed in this filing.
TL;DR: Disclosure follows 10b5-1 and Form 4 requirements; shows proper use of attorney-in-fact signature and price-range disclosure.
The filing demonstrates procedural compliance: the reporter identified relationship to issuer as Director, indicated the sale date, provided a weighted-average price and a range, and included a 10b5-1 plan explanation. The signature by an attorney-in-fact is executed and dated. While insider sales can attract investor attention, this document does not include any non-routine governance concerns or additional contextual information about intent beyond the 10b5-1 statement.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Ordinary Share | 2,828 | $41.4315 | $117K |
Footnotes (1)
- 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 $39.57 to $41.97 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.
