Pagaya (PGY) CFO exercises RSUs, sells shares to cover taxes

Rhea-AI Filing Summary

Pagaya Technologies' Chief Financial Officer, Evangelos Perros, exercised restricted stock units and sold shares mainly to cover taxes. On March 12, 2026, RSUs representing 20,625 Class A ordinary shares were converted into shares at a price of $0.00 per share. On the same date, 8,425 Class A ordinary shares were sold at $10.99 per share, with a footnote explaining the sale was necessary to satisfy tax withholding obligations from the vesting of a compensatory award. Following these transactions, Perros directly owns 112,412 Class A ordinary shares.

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^*

Perros Evangelos

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

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	03/12/2026	03/12/2026	M		20,625	A	$0	120,837	D
Class A Ordinary Share	03/12/2026	03/12/2026	S(1)		8,425	D	$10.99	112,412	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	03/12/2026	03/12/2026	M			20,625	(2)	(2)	Class A Ordinary Share	20,625	$0	82,500	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. The grant shall vest over a period of two years in eight equal quarterly installments starting on June 12, 2025.

Remarks:

	/s/Eric Watson, Attorney-in-Fact	03/16/2026
	** 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.

FAQ

What insider transactions did Pagaya (PGY) CFO Evangelos Perros report?

Pagaya CFO Evangelos Perros reported exercising restricted stock units into 20,625 Class A shares and selling 8,425 shares at $10.99 each. The filing shows these actions as part of a compensatory award vesting event.

Were Pagaya (PGY) CFO Perros’ share sales discretionary or tax-related?

The 8,425 Pagaya shares sold by CFO Evangelos Perros were described as necessary to meet tax withholding obligations from a vesting compensatory award, indicating a tax-driven transaction rather than a discretionary open-market sale decision.

How many Pagaya (PGY) shares does the CFO hold after this Form 4?

After the reported transactions, Pagaya CFO Evangelos Perros directly owns 112,412 Class A ordinary shares. This figure comes from the Form 4 totals following the RSU conversion and the tax-related sale of a portion of those shares.

What RSU activity did Pagaya (PGY) disclose for its CFO in this filing?

The filing shows restricted stock units converting into 20,625 Class A shares at an exercise price of $0.00. A footnote notes the grant vests over two years in eight equal quarterly installments starting June 12, 2025.

At what price were Pagaya (PGY) shares sold in the CFO’s Form 4?

The 8,425 Class A ordinary shares sold by Pagaya’s CFO were transacted at a price of $10.99 per share. According to the footnote, this sale was required to cover tax withholding from the vesting of a compensatory equity award.