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
                                                                                  
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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 *

Trefler Leon
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)
SVP, Global Customer Success
(Last)          (First)          (Middle)

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

9/8/2020
(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 9/8/2020  M  363 (1)A$0.00 11545 D  
Common Stock 9/8/2020  F  161 D$124.26 11384 D  
Common Stock 9/8/2020  M  390 (2)A$0.00 11774 D  
Common Stock 9/8/2020  F  173 D$124.26 11601 D  
Common Stock 9/9/2020  M  603 (3)A$0.00 12204 D  
Common Stock 9/9/2020  F  268 D$120.01 11936 (4)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 Security3. Trans. Date3A. Deemed Execution Date, if any4. 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 Date7. 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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Unit (5)$0.00 9/8/2020  M     363  3/5/2019 (1) (6)Common Stock 363 $0.00 3623 D  
Restricted Stock Unit (5)$0.00 9/8/2020  M     390  3/6/2020 (2) (6)Common Stock 390 $0.00 5464 D  
Restricted Stock Unit (5)$0.00 9/9/2020  M     603  3/9/2017 (3) (6)Common Stock 603 $0.00 1205 D  

Explanation of Responses:
(1) Represents a 5% vesting on September 5, 2020, with a release date of September 8, 2020, the first business day following vesting. The original grant was 7,246 restricted stock units, with 20% vesting on March 5, 2019, and the remaining 80% vesting in equal quarterly installments over the remaining four years.
(2) Represents a 5% vesting on September 6, 2020, with a release date of September 8, 2020, the first business day following vesting. The original grant was 7,806 restricted stock units, with 20% vesting on March 6, 2020, and the remaining 80% vesting in equal quarterly installments over the remaining four years.
(3) Represents a 5% vesting on September 9, 2020. The original grant was 12,049 restricted stock units, with 20% vesting on March 9, 2017, and the remaining 80% vesting in equal quarterly installments over the remaining four years.
(4) Does not include shares of common stock subject to unvested restricted stock units and/or options awards.
(5) Each restricted stock unit represents the right to receive, following vesting, one share of the issuer's common stock.
(6) Once vested, shares of common stock are not subject to expiration.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Trefler Leon
C/O PEGASYSTEMS INC.
1 ROGERS STREET
CAMBRIDGE, MA 02142


SVP, Global Customer Success

Signatures
/s/ Donald L. Lancaster, Attorney-in-Fact for Leon Trefler9/10/2020
**Signature of Reporting PersonDate

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