Pagaya (PGY) CEO awarded 185,000 RSUs vesting in eight quarterly tranches

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Krubiner Gal reported acquisition or exercise transactions in this Form 4 filing.

Pagaya Technologies Ltd. reported that Chief Executive Officer Gal Krubiner received a grant of 185,000 Restricted Stock Units on April 1, 2026. These RSUs represent rights to receive an equal number of Class A Ordinary Shares at no purchase price.

The grant will vest in eight equal quarterly installments beginning on June 25, 2026, spreading vesting over approximately two years. The company noted that this transaction was reported later than the grant date because of an inadvertent administrative delay, and not due to any error by the reporting person.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Krubiner Gal

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit	185,000	$0.00	--

Holdings After Transaction: Restricted Stock Unit — 185,000 shares (Direct)

Footnotes (1)

On April 1, 2026, the Reporting Person was granted 185,000 Restricted Stock Units (the "Grant") by the Issuer. The transaction reported herein is being reported late due to an inadvertent administrative delay and not any error of the Reporting Person. The Grant shall vest in eight equal quarterly installments beginning on June 25, 2026.

Key Figures

RSU grant size: 185,000 units Underlying shares: 185,000 shares Vesting schedule: 8 equal quarterly installments +2 more

5 metrics

RSU grant size 185,000 units Restricted Stock Units granted to CEO on April 1, 2026

Underlying shares 185,000 shares Class A Ordinary Shares underlying the RSU grant

Vesting schedule 8 equal quarterly installments Vesting begins on June 25, 2026

Exercise/Conversion price $0.0000 per share RSUs convert to Class A Ordinary Shares at no purchase price

Shares after transaction 185,000 derivative units Total RSUs held following the reported grant

Key Terms

Restricted Stock Units, Grant, vest, quarterly installments, +1 more

5 terms

Restricted Stock Units financial

"the Reporting Person was granted 185,000 Restricted Stock Units (the "Grant")"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Grant financial

"185,000 Restricted Stock Units (the "Grant") by the Issuer"

vest financial

"The Grant shall vest in eight equal quarterly installments"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

quarterly installments financial

"shall vest in eight equal quarterly installments beginning on June 25, 2026"

derivative financial

"transaction_type": "derivative","transaction_shares": "185000.0000""

A derivative is a financial contract whose value depends on the price or performance of another asset or measure — for example a stock, index, interest rate, commodity, or currency. Investors use derivatives like insurance or leveraged bets to hedge risk, speculate, or gain exposure without owning the underlying asset; they can protect portfolios but also amplify losses and introduce counterparty and market risk.

Form 4 Insider Transactions: What Each Field Means →

04/08/2026 - 05:34 PM

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^*

Krubiner Gal

(Last)

(First)

(Middle)

C/O PAGAYA TECHNOLOGIES LTD.

335 MADISON AVENUE, 16TH FLOOR

(Street)

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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Unit	⁽¹⁾	04/01/2026		A		185,000		⁽²⁾	⁽²⁾	Class A Ordinary Share	185,000	$0	185,000	D

Explanation of Responses:

1. On April 1, 2026, the Reporting Person was granted 185,000 Restricted Stock Units (the "Grant") by the Issuer. The transaction reported herein is being reported late due to an inadvertent administrative delay and not any error of the Reporting Person.

2. The Grant shall vest in eight equal quarterly installments beginning on June 25, 2026.

Remarks:

	/s/Eric Watson, Attorney-in-Fact	04/08/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Pagaya Technologies (PGY) disclose for its CEO?

Pagaya Technologies disclosed that CEO Gal Krubiner received a grant of 185,000 Restricted Stock Units on April 1, 2026. These RSUs are a form of equity compensation that can convert into 185,000 Class A Ordinary Shares at no cost upon vesting.

How do the 185,000 RSUs granted to Pagaya (PGY) CEO vest over time?

The 185,000 Restricted Stock Units granted to Pagaya’s CEO vest in eight equal quarterly installments. Vesting begins on June 25, 2026, meaning one-eighth of the RSUs becomes deliverable every quarter until the full grant has vested over the schedule.

Was the Form 4 for Pagaya (PGY) CEO’s RSU grant filed late?

Yes. The footnotes state the April 1, 2026 RSU grant was reported late because of an inadvertent administrative delay. The company explicitly notes the delay was not caused by any error of the reporting person in this insider transaction.

Does the Pagaya (PGY) CEO RSU grant involve any cash payment?

No cash payment is involved for the Pagaya CEO RSU grant. The Form 4 shows a transaction price and conversion price of 0.0000 per unit, meaning the 185,000 RSUs convert into Class A Ordinary Shares without a purchase price when they vest.

What type of security was granted to Pagaya (PGY) CEO in this Form 4?

The Form 4 shows a grant of Restricted Stock Units, classified as derivative securities. Each of the 185,000 RSUs is linked to one underlying Class A Ordinary Share, giving the CEO future share delivery rights subject to the stated vesting schedule.