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Pegasystems (PEGA) CEO Alan Trefler offloads 90,000 shares under plan

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Pegasystems Inc. CEO, Chairman and 10% owner Alan Trefler reported open-market sales of a total of 90,000 shares of common stock on January 21–22, 2026. The trades were coded as sales and executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 6, 2024.

The reported sale prices were shown as weighted averages, ranging from about $47.28 to $51.35 per share, with specific transactions including 18,092 shares at $47.73, 11,790 shares at $50.79, and 37,306 shares at $49.73. After these transactions, Trefler directly held 44,349,454 Pegasystems shares. He also reported significant additional indirect holdings through several trusts, including the Alan N. Trefler Irrevocable Non-GST Trust of 2022 and multiple Grantor Retained Annuity Trusts.

Positive

  • None.

Negative

  • None.
Insider TREFLER ALAN
Role C.E.O. & Chairman
Sold 90,000 shs ($4.44M)
Type Security Shares Price Value
Sale Common stock 7,694 $48.75 $375K
Sale Common stock 37,306 $49.73 $1.86M
Sale Common stock 18,092 $47.73 $864K
Sale Common stock 7,824 $48.61 $380K
Sale Common stock 7,172 $49.78 $357K
Sale Common stock 11,790 $50.79 $599K
Sale Common stock 122 $51.35 $6K
holding Common stock -- -- --
holding Common stock -- -- --
holding Common stock -- -- --
holding Common stock -- -- --
Holdings After Transaction: Common stock — 44,386,760 shares (Direct); Common stock — 10,876,525 shares (Indirect, Alan N. Trefler Irrevocable Non-GST Trust of 2022)
Footnotes (1)
  1. Sold pursuant to a pre-arranged trading plan adopted by Mr. Trefler on November 6, 2024 under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Represents the weighted average of sale prices, ranging from $47.28 to $48.27. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price. Represents the weighted average of sale prices, ranging from $48.28 to $49.27. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price. Represents the weighted average of sale prices, ranging from $49.28 to $50.27. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price. Represents the weighted average of sale prices, ranging from $50.28 to $51.27. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price. Represents the weighted average of sale prices, ranging from $48.14 to $49.10. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price. Represents the weighted average of sale prices, ranging from $49.17 to $50.11. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.
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
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*
TREFLER ALAN
(Last) (First) (Middle)
C/O PEGASYSTEMS INC.
225 WYMAN STREET, STE 300
(Street)
WALTHAM MA 02451
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
PEGASYSTEMS INC [ PEGA ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
C.E.O. & Chairman
3. Date of Earliest Transaction (Month/Day/Year)
01/21/2026
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
Common stock 01/21/2026 S 18,092(1) D $47.73(2) 44,421,362 D
Common stock 01/21/2026 S 7,824(1) D $48.61(3) 44,413,538 D
Common stock 01/21/2026 S 7,172(1) D $49.78(4) 44,406,366 D
Common stock 01/21/2026 S 11,790(1) D $50.79(5) 44,394,576 D
Common stock 01/21/2026 S 122(1) D $51.35 44,394,454 D
Common stock 01/22/2026 S 7,694(1) D $48.75(6) 44,386,760 D
Common stock 01/22/2026 S 37,306(1) D $49.73(7) 44,349,454 D
Common stock 10,876,525 I Alan N. Trefler Irrevocable Non-GST Trust of 2022
Common stock 10,879,283 I Alan N. Trefler Grantor Retained Annuity Trust I of 2024
Common stock 8,703,426 I Alan N. Trefler Grantor Retained Annuity Trust II of 2024
Common stock 2,071,585 I The Trefler 2025 Trust
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. Sold pursuant to a pre-arranged trading plan adopted by Mr. Trefler on November 6, 2024 under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
2. Represents the weighted average of sale prices, ranging from $47.28 to $48.27. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.
3. Represents the weighted average of sale prices, ranging from $48.28 to $49.27. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.
4. Represents the weighted average of sale prices, ranging from $49.28 to $50.27. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.
5. Represents the weighted average of sale prices, ranging from $50.28 to $51.27. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.
6. Represents the weighted average of sale prices, ranging from $48.14 to $49.10. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.
7. Represents the weighted average of sale prices, ranging from $49.17 to $50.11. The individual has provided the Company, and undertakes to provide to the staff of the Security and Exchange Commission or any security holder of the Company, upon request, full information regarding the number of shares sold at each separate price.
Remarks:
/s/Kathryn Leach, Attorney-in-Fact for Alan Trefler 01/23/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Pegasystems (PEGA) report for Alan Trefler?

Pegasystems reported that Alan Trefler, its CEO, Chairman and a 10% owner, sold a total of 90,000 shares of common stock in open-market transactions on January 21–22, 2026.

At what prices did Alan Trefler sell Pegasystems (PEGA) shares?

The Form 4 shows weighted average sale prices for the trades, with ranges from approximately $47.28 to $51.35 per share. Individual reported averages include $47.73, $48.61, $49.78, $50.79, $51.35, $48.75, and $49.73.

How many Pegasystems (PEGA) shares does Alan Trefler hold after the reported sales?

Following the reported transactions, Alan Trefler directly held 44,349,454 shares of Pegasystems common stock, according to the Form 4.

Were Alan Trefler’s Pegasystems share sales under a trading plan?

Yes. A footnote states the shares were sold pursuant to a pre-arranged trading plan adopted by Mr. Trefler on November 6, 2024 under Rule 10b5-1 of the Securities Exchange Act of 1934.

Does Alan Trefler have indirect ownership of Pegasystems (PEGA) shares through trusts?

Yes. The Form 4 lists indirect holdings in Pegasystems common stock through several trusts, including the Alan N. Trefler Irrevocable Non-GST Trust of 2022, two Grantor Retained Annuity Trusts of 2024, and The Trefler 2025 Trust, each with its own reported share balance.

Who signed the Pegasystems (PEGA) Form 4 reporting Alan Trefler’s transactions?

The Form 4 was signed by Kathryn Leach as Attorney-in-Fact for Alan Trefler, indicating she signed under a power of attorney on his behalf.