Statement of Changes in Beneficial Ownership (4)

Date : 09/13/2017 @ 5:24PM
Source : Edgar (US Regulatory)
Stock : Pegasystems Inc. (MM) (PEGA)
Quote : 51.45  -1.0 (-1.91%) @ 6:01PM

Statement of Changes in Beneficial Ownership (4)

FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

KOUNINIS EFSTATHIOS A
2. Issuer Name and Ticker or Trading Symbol

PEGASYSTEMS INC [ PEGA ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
VP of Finance & CAO
(Last)          (First)          (Middle)

C/O PEGASYSTEMS INC., 1 ROGERS STREET
3. Date of Earliest Transaction (MM/DD/YYYY)

9/11/2017
(Street)

CAMBRIDGE, MA 02142
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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   9/11/2017     M    327   (1) A $0.00   585   D    
Common Stock   9/11/2017     F    107   D $55.65   478   D    
Common Stock   9/11/2017     M    844   A $0.00   1322   D    
Common Stock   9/11/2017     F    481   (2) D $56.45   841   D    
Common Stock   9/11/2017     S    363   D $56.50   478   D    
Common Stock   9/11/2017     M    196   A $0.00   674   D    
Common Stock   9/11/2017     F    111   (2) D $56.55   563   D    
Common Stock   9/11/2017     S    85   D $56.57   478   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: 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 Units   (3) $0.00   9/11/2017     M         327   (1)   3/9/2017     (4) Common Stock   6527   $0.00   4569   D    
Stock Options   $20.49   9/11/2017     M         844    3/2/2016   (5) 3/2/2025   Common Stock   16870   $0.00   8435   D    
Stock Options   $20.05   9/11/2017     M         196    3/7/2015   (6) 3/7/2024   Common Stock   3904   $0.00   1366   D    

Explanation of Responses:
(1)  Represents 5% vesting on September 9, 2017, with a release date of September 11, 2017, the first business day following the vesting. The original grant was 6527 restricted stock units, with 20% vesting on March 9, 2017, and the remaining 80% vesting in equal quarterly installments over the remaining 4 years.
(2)  Represents the exercise price of the Stock Options referenced in Table II and Mr. Kouninis' tax liability, which were paid by way of withholding by the Company of shares of equal value.
(3)  Each restricted stock unit represents the right to receive, following vesting, one share of Pegasystems Inc.'s common stock.
(4)  Once vested, the shares of common stock are not subject to expiration.
(5)  Options vested 20% on March 2, 2016, with the remaining 80% vesting in equal quarterly installments over the next four years.
(6)  Options vested 20% on March 7, 2015, with the remaining 80% vesting in equal quarterly installments over the next four years.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
KOUNINIS EFSTATHIOS A
C/O PEGASYSTEMS INC.
1 ROGERS STREET
CAMBRIDGE, MA 02142


VP of Finance & CAO

Signatures
/s/ Janet Mesrobian, Esq., Attorney-In-Fact for Efstathios Kouninis 9/13/2017
** 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 control number.

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