Pagaya Technologies Executive Reduces Stake While Stock Trades Near Highs

Rhea-AI Filing Summary

Insider Trading Alert: Yahav Yulzari, Chief Business Officer and Director of Pagaya Technologies (PGY), executed two planned sales of Class B Ordinary Shares under a 10b5-1 trading plan:

• June 18, 2025: Sold 4,700 shares at weighted average price of $19.0002 (range $19.00-$19.01)
• June 20, 2025: Sold 8,259 shares at $19.04 per share

Following these transactions, Yulzari retains beneficial ownership of 4,140,591 Class B Ordinary Shares held directly. The Class B shares were automatically converted to Class A Ordinary Shares upon sale. These sales were executed according to a pre-established 10b5-1 trading plan, which provides a safe harbor from insider trading allegations by scheduling trades in advance.

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).

X

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^*

Yulzari Yahav

(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
X	Officer (give title below)		Other (specify below)
	Chief Business Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2025

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 B Ordinary Share(1)	06/18/2025	06/18/2025	S(2)		4,700	D	$19.0002(3)	4,148,850	D
Class B Ordinary Share(1)	06/20/2025	06/20/2025	S(2)		8,259	D	$19.04	4,140,591	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. Class B Ordinary Shares were converted to Class A Ordinary Shares upon sale.

2. This sale was effected pursuant to a 10b5-1 plan, as noted on the form specific filing information.

3. Weighted average price. These shares were sold in multiple transactions at prices ranging from $19.00 to $19.01 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.

Remarks:

	/s/ Natalie Wilmore, Attorney-in-Fact	06/23/2025
	** 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

How many PGY shares did Yahav Yulzari sell in June 2025?

Yahav Yulzari, PGY's Chief Business Officer and Director, sold a total of 12,959 shares in two transactions: 4,700 shares on June 18, 2025, and 8,259 shares on June 20, 2025.

What was the selling price of PGY shares in Yulzari's June 18, 2025 transaction?

The shares were sold at a weighted average price of $19.0002, with transactions occurring between $19.00 and $19.01 per share.

How many PGY shares does Yahav Yulzari still own after the June 2025 sales?

Following the reported transactions, Yahav Yulzari directly owns 4,140,591 Class B Ordinary Shares of PGY.

Were the PGY share sales part of a planned transaction?

Yes, the sales were executed pursuant to a Rule 10b5-1 trading plan, as indicated in footnote 2 of the Form 4 filing.

What type of shares did Yulzari sell in the PGY transactions?

According to the filing's footnote 1, the Class B Ordinary Shares were automatically converted to Class A Ordinary Shares upon sale.