[Form 4] Pagaya Technologies Ltd. Insider Trading Activity

Rhea-AI Filing Summary

Pagaya Technologies Ltd. former officer Perros Evangelos reported tax-related share activity. He exercised 20,625 Restricted Stock Units into Class A Ordinary Shares and sold 11,558 Class A shares at $16.23 per share to satisfy tax withholding obligations from the vesting of a compensatory award. Following these transactions, he directly holds 131,241 Class A Ordinary Shares and 61,875 Restricted Stock Units, indicating a routine compensation and tax-settlement event rather than a discretionary reduction of his overall position.

Insider Trade Summary

Net Seller: 11,558 shares ($187,586)

Net Sell 3 txns

Insider Perros Evangelos

Role null

Sold 11,558 shs ($188K)

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	20,625	$0.00	--
Exercise	Class A Ordinary Share	20,625	$0.00	--
Sale	Class A Ordinary Share	11,558	$16.23	$188K

Holdings After Transaction: Restricted Stock Unit — 61,875 shares (Direct, null); Class A Ordinary Share — 142,799 shares (Direct, null)

Footnotes (1)

1. Sale of securities was necessary to satisfy tax withholding obligations arising exclusively from the vesting of a compensatory award. The grant shall vest over a period of two years in eight equal quarterly installments starting on June 12, 2025.

Key Figures

Shares sold: 11,558 shares Sale price: $16.23 per share RSUs exercised: 20,625 units +2 more

5 metrics

Shares sold 11,558 shares Class A Ordinary Shares sold at $16.23 to cover taxes

Sale price $16.23 per share Price for 11,558 Class A Ordinary Shares

RSUs exercised 20,625 units Restricted Stock Units converted into Class A Ordinary Shares

Shares held after 131,241 shares Direct Class A Ordinary Share holdings after transactions

RSUs remaining 61,875 units Restricted Stock Units outstanding after the 20,625-unit exercise

Key Terms

Restricted Stock Unit, tax withholding obligations, compensatory award, derivative security, +1 more

5 terms

Restricted Stock Unit financial

"security_title: "Restricted Stock Unit""

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

tax withholding obligations financial

"Sale of securities was necessary to satisfy tax withholding obligations"

compensatory award financial

"arising exclusively from the vesting of a compensatory award"

derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

vesting financial

"The grant shall vest over a period of two years in eight equal quarterly installments"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

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Form 4 Insider Transactions: What Each Field Means →

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

X

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 NEW YORK 10017

(City) (State) (Zip)

UNITED STATES

(Country)

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
	Officer (give title below)	X	Other (specify below)
			Former Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/12/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	06/12/2026		M		20,625	A	$0	142,799	D
Class A Ordinary Share	06/12/2026		S(1)		11,558	D	$16.23	131,241	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	06/12/2026		M			20,625	(2)	(2)	Class A Ordinary Share	20,625	$0	61,875	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	06/16/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Pagaya (PGY) former officer Perros Evangelos report in this Form 4?

He reported a routine compensation and tax event. 20,625 Restricted Stock Units were exercised into Class A Ordinary Shares, and 11,558 shares were sold to cover tax withholding obligations arising from the vesting of a compensatory award.

How many Pagaya (PGY) shares did Perros Evangelos sell and at what price?

He sold 11,558 Class A Ordinary Shares at $16.23 per share. The footnote states this sale was necessary solely to satisfy tax withholding obligations tied to the vesting of a compensatory equity award.

How many Pagaya (PGY) shares does Perros Evangelos hold after these transactions?

He directly holds 131,241 Class A Ordinary Shares after the transactions. In addition, he holds 61,875 Restricted Stock Units, reflecting remaining unconverted equity compensation following the 20,625-unit RSU exercise reported on the same date.

What equity award activity for Pagaya (PGY) did the Form 4 disclose?

The filing shows an exercise of 20,625 Restricted Stock Units. These RSUs converted into Class A Ordinary Shares, with a related share sale undertaken to meet tax withholding needs triggered by the vesting of this compensatory award.

Was the Pagaya (PGY) share sale by Perros Evangelos discretionary or tax-driven?

The sale was tax-driven, not discretionary. A footnote explains that shares were sold because it was necessary to satisfy tax withholding obligations that arose exclusively from the vesting of a compensatory equity award.