Reported relationships
Latest disclosed role at each company.
| Company | Last reported as | Report date | Published |
|---|---|---|---|
| PEGASYSTEMS INCPEGA · Entity 309 | Director · C.E.O. & Chairman · 10% owner | September 14, 2026 | September 16, 2026 |
Disclosed balances
About these balances
Latest available filing per company, not a reconstructed current portfolio. Matching sequences show the last reported balance with all source rows expandable; grouping alone does not establish account ownership. Do not add unresolved positions together. Filings may omit unchanged positions, and amendments may correct only part of an older disclosure. Jointly reported shares are not necessarily this owner's personal holdings.
PEGASYSTEMS INC
Report date September 14, 2026 · Filed September 16, 2026
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Common stockSEC Table I · non-derivative | IndirectAlan N. Trefler Grantor Retained Annuity Trust II of 2024 | 0 |
Reported balance
After 2026-09-14 transaction · row 1
Account identity is unresolved; indirect or unspecified ownership is not merged.
1 source rowRow 1 · 2026-09-14 · Gift · Disposed 2,399,690 · Balance 0 F1: Transfers of shares from the Alan N. Trefler Grantor Retained Annuity Trust I of 2024 and the Alan N. Trefler Grantor Retained Annuity Trust II of 2024 to the Alan N. Trefler Irrevocable Non-GST Trust of 2022. F2: Reflects exempt transfers between the reporting person and the trust described in the Nature of Indirect Beneficial Ownership column. |
| Common stockSEC Table I · non-derivative | IndirectAlan N. Trefler Grantor Retained Annuity Trust I of 2024 | 0 |
Reported balance
After 2026-09-14 transaction · row 2
Account identity is unresolved; indirect or unspecified ownership is not merged.
1 source rowRow 2 · 2026-09-14 · Gift · Disposed 2,999,613 · Balance 0 F1: Transfers of shares from the Alan N. Trefler Grantor Retained Annuity Trust I of 2024 and the Alan N. Trefler Grantor Retained Annuity Trust II of 2024 to the Alan N. Trefler Irrevocable Non-GST Trust of 2022. F2: Reflects exempt transfers between the reporting person and the trust described in the Nature of Indirect Beneficial Ownership column. |
| Common stockSEC Table I · non-derivative | IndirectAlan N. Trefler Irrevocable Non-GST Trust of 2022 | 16,275,828 |
Reported balance
After 2026-09-14 transaction · row 3
Account identity is unresolved; indirect or unspecified ownership is not merged.
1 source rowRow 3 · 2026-09-14 · Gift · Acquired 5,399,303 · Balance 16,275,828 F1: Transfers of shares from the Alan N. Trefler Grantor Retained Annuity Trust I of 2024 and the Alan N. Trefler Grantor Retained Annuity Trust II of 2024 to the Alan N. Trefler Irrevocable Non-GST Trust of 2022. |
| Common stockSEC Table I · non-derivative | Direct | 58,504,872 |
Reported balance
Holding disclosure · report date 2026-09-14 · row 4
Holding and transaction disclosures are not merged.
1 source rowRow 4 · Balance 58,504,872 F3: Reflects exempt transfers between the reporting person and the grantor retained annuity trusts described on this Form 4. |
| Common stockSEC Table I · non-derivative | IndirectThe Trefler 2025 Trust | 2,071,585 |
Reported balance
Holding disclosure · report date 2026-09-14 · row 5
Holding and transaction disclosures are not merged.
1 source rowRow 5 · Balance 2,071,585 |
Filing footnotes · ownership attribution and instrument terms
F1: Transfers of shares from the Alan N. Trefler Grantor Retained Annuity Trust I of 2024 and the Alan N. Trefler Grantor Retained Annuity Trust II of 2024 to the Alan N. Trefler Irrevocable Non-GST Trust of 2022.
F2: Reflects exempt transfers between the reporting person and the trust described in the Nature of Indirect Beneficial Ownership column.
F3: Reflects exempt transfers between the reporting person and the grantor retained annuity trusts described on this Form 4.
Transaction history
JSON APIPurchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”
The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.
| Transaction date | Company | Activity / security | Shares / units | Reported price | Reported value | Details |
|---|---|---|---|---|---|---|
| September 14, 2026 Filed Sep 16, 2026 21:43 UTC | PEGASYSTEMS INC PEGA · Entity 309 | GiftCommon stock | 5,399,303 | $0.00 | $0.00 |
DisclosureSEC source: 0001032235-26-000012 · wk-form4_1789595035.xml · nonDerivative · entry 3 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: No plan indicated Ownership: Indirect · Alan N. Trefler Irrevocable Non-GST Trust of 2022 Disclosed balance after: 16,275,828 F1 · shares: Transfers of shares from the Alan N. Trefler Grantor Retained Annuity Trust I of 2024 and the Alan N. Trefler Grantor Retained Annuity Trust II of 2024 to the Alan N. Trefler Irrevocable Non-GST Trust of 2022. Read SEC document |
| September 14, 2026 Filed Sep 16, 2026 21:43 UTC | PEGASYSTEMS INC PEGA · Entity 309 | GiftCommon stock | 2,999,613 | $0.00 | $0.00 |
DisclosureSEC source: 0001032235-26-000012 · wk-form4_1789595035.xml · nonDerivative · entry 2 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: No plan indicated Ownership: Indirect · Alan N. Trefler Grantor Retained Annuity Trust I of 2024 Disclosed balance after: 0 F1 · shares: Transfers of shares from the Alan N. Trefler Grantor Retained Annuity Trust I of 2024 and the Alan N. Trefler Grantor Retained Annuity Trust II of 2024 to the Alan N. Trefler Irrevocable Non-GST Trust of 2022. F2 · balance_after: Reflects exempt transfers between the reporting person and the trust described in the Nature of Indirect Beneficial Ownership column. Read SEC document |
| September 14, 2026 Filed Sep 16, 2026 21:43 UTC | PEGASYSTEMS INC PEGA · Entity 309 | GiftCommon stock | 2,399,690 | $0.00 | $0.00 |
DisclosureSEC source: 0001032235-26-000012 · wk-form4_1789595035.xml · nonDerivative · entry 1 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: No plan indicated Ownership: Indirect · Alan N. Trefler Grantor Retained Annuity Trust II of 2024 Disclosed balance after: 0 F1 · shares: Transfers of shares from the Alan N. Trefler Grantor Retained Annuity Trust I of 2024 and the Alan N. Trefler Grantor Retained Annuity Trust II of 2024 to the Alan N. Trefler Irrevocable Non-GST Trust of 2022. F2 · balance_after: Reflects exempt transfers between the reporting person and the trust described in the Nature of Indirect Beneficial Ownership column. Read SEC document |
| March 03, 2026 Filed Mar 5, 2026 21:21 UTC | PEGASYSTEMS INC PEGA · Entity 309 | GrantStock Option · Derivative | 455,581 | $0.00 Strike: $45.01 | $0.00 |
DisclosureSEC source: 0001032235-26-000009 · wk-form4_1772745674.xml · derivative · entry 1 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 455,581 Underlying: Common stock · 455,581 shares Expires 2036-03-03 F1 · derivative.exercise_date: This stock option vests as to 25% of the shares subject thereto on the Date Exercisable in Table II, with the remaining 75% vesting in equal quarterly amounts over the following three years. Read SEC document |
| March 02, 2026 Filed Mar 3, 2026 21:07 UTC | PEGASYSTEMS INC PEGA · Entity 309 | Exercise / conversionRestricted Stock Units · Derivative | 2,498 | $0.00 Strike: $0.00 | $0.00 |
DisclosureSEC source: 0001032235-26-000007 · wk-form4_1772572064.xml · derivative · entry 8 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 0 Underlying: Common stock · 2,498 shares Expires 2026-03-02 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · shares: Each restricted stock unit represents the right to receive, following vesting, one share of common stock. F2 · derivative.exercise_date: 20% of the restricted stock units vested on the Date Exercisable in Table II, and the remaining 80% vest in equal quarterly installments over the following four years. Read SEC document |
| March 02, 2026 Filed Mar 3, 2026 21:07 UTC | PEGASYSTEMS INC PEGA · Entity 309 | Tax withholdingCommon stock | 814 | $43.73 | $35,596.22 |
DisclosureSEC source: 0001032235-26-000007 · wk-form4_1772572064.xml · nonDerivative · entry 2 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 44,321,466 Read SEC document |
| March 02, 2026 Filed Mar 3, 2026 21:07 UTC | PEGASYSTEMS INC PEGA · Entity 309 | Exercise / conversionCommon stock | 2,498 | $0.00 | $0.00 |
DisclosureSEC source: 0001032235-26-000007 · wk-form4_1772572064.xml · nonDerivative · entry 1 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 44,322,280 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. Read SEC document |
| February 18, 2026 Filed Feb 19, 2026 21:25 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 17,930 | $45.03 | $807,387.90 |
DisclosureSEC source: 0001032235-26-000005 · wk-form4_1771536313.xml · nonDerivative · entry 2 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,319,782 F1 · shares: Sold pursuant to a pre-arranged trading plan adopted by Mr. Trefler on November 11, 2025 under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. F3 · price: Represents the weighted average of sale prices, ranging from $45.00 to $45.26. 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. Read SEC document |
| February 17, 2026 Filed Feb 19, 2026 21:25 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 11,742 | $45.12 | $529,799.04 |
DisclosureSEC source: 0001032235-26-000005 · wk-form4_1771536313.xml · nonDerivative · entry 1 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,337,712 F1 · shares: Sold pursuant to a pre-arranged trading plan adopted by Mr. Trefler on November 11, 2025 under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. F2 · price: Represents the weighted average of sale prices, ranging from $45.00 to $45.37. 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. Read SEC document |
| January 22, 2026 Filed Jan 23, 2026 21:21 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 37,306 | $49.73 | $1,855,227.38 |
DisclosureSEC source: 0001032235-26-000002 · wk-form4_1769203299.xml · nonDerivative · entry 7 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,349,454 F1 · shares: 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. F7 · 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. Read SEC document |
| January 22, 2026 Filed Jan 23, 2026 21:21 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 7,694 | $48.75 | $375,082.50 |
DisclosureSEC source: 0001032235-26-000002 · wk-form4_1769203299.xml · nonDerivative · entry 6 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,386,760 F1 · shares: 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. F6 · 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. Read SEC document |
| January 21, 2026 Filed Jan 23, 2026 21:21 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 122 | $51.35 | $6,264.70 |
DisclosureSEC source: 0001032235-26-000002 · wk-form4_1769203299.xml · nonDerivative · entry 5 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,394,454 F1 · shares: 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. Read SEC document |
| January 21, 2026 Filed Jan 23, 2026 21:21 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 11,790 | $50.79 | $598,814.10 |
DisclosureSEC source: 0001032235-26-000002 · wk-form4_1769203299.xml · nonDerivative · entry 4 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,394,576 F1 · shares: 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. F5 · 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. Read SEC document |
| January 21, 2026 Filed Jan 23, 2026 21:21 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 7,172 | $49.78 | $357,022.16 |
DisclosureSEC source: 0001032235-26-000002 · wk-form4_1769203299.xml · nonDerivative · entry 3 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,406,366 F1 · shares: 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. F4 · 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. Read SEC document |
| January 21, 2026 Filed Jan 23, 2026 21:21 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 7,824 | $48.61 | $380,324.64 |
DisclosureSEC source: 0001032235-26-000002 · wk-form4_1769203299.xml · nonDerivative · entry 2 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,413,538 F1 · shares: 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. F3 · 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. Read SEC document |
| January 21, 2026 Filed Jan 23, 2026 21:21 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 18,092 | $47.73 | $863,531.16 |
DisclosureSEC source: 0001032235-26-000002 · wk-form4_1769203299.xml · nonDerivative · entry 1 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,421,362 F1 · shares: 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. F2 · price: 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. Read SEC document |
| December 19, 2025 Filed Dec 22, 2025 21:16 UTC | PEGASYSTEMS INC PEGA · Entity 309 | GiftCommon stock | 314,960 | $0.00 | $0.00 |
DisclosureSEC source: 0001032235-25-000026 · wk-form4_1766438186.xml · nonDerivative · entry 2 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 44,439,454 Read SEC document |
| December 18, 2025 Filed Dec 19, 2025 21:09 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 23,719 | $58.85 | $1,395,863.15 |
DisclosureSEC source: 0001032235-25-000024 · wk-form4_1766178551.xml · nonDerivative · entry 5 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,755,654 F1 · shares: 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. F6 · price: Represents the weighted average of sale prices, ranging from $58.73 to $59.00. 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. Read SEC document |
| December 18, 2025 Filed Dec 19, 2025 21:09 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 21,281 | $58.50 | $1,244,938.50 |
DisclosureSEC source: 0001032235-25-000024 · wk-form4_1766178551.xml · nonDerivative · entry 4 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,779,373 F1 · shares: 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. F5 · price: Represents the weighted average of sale prices, ranging from $57.73 to $58.72. 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. Read SEC document |
| December 18, 2025 Filed Dec 22, 2025 21:16 UTC | PEGASYSTEMS INC PEGA · Entity 309 | GiftCommon stock | 1,240 | $0.00 | $0.00 |
DisclosureSEC source: 0001032235-25-000026 · wk-form4_1766438186.xml · nonDerivative · entry 1 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 44,754,414 Read SEC document |
| December 17, 2025 Filed Dec 19, 2025 21:09 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 2,053 | $59.34 | $121,825.02 |
DisclosureSEC source: 0001032235-25-000024 · wk-form4_1766178551.xml · nonDerivative · entry 3 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,800,654 F1 · shares: 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. F4 · price: Represents the weighted average of sale prices, ranging from $59.27 to $59.49. 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. Read SEC document |
| December 17, 2025 Filed Dec 19, 2025 21:09 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 14,593 | $58.77 | $857,630.61 |
DisclosureSEC source: 0001032235-25-000024 · wk-form4_1766178551.xml · nonDerivative · entry 2 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,802,707 F1 · shares: 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. F3 · price: Represents the weighted average of sale prices, ranging from $58.27 to $59.26. 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. Read SEC document |
| December 17, 2025 Filed Dec 19, 2025 21:09 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 28,354 | $57.71 | $1,636,309.34 |
DisclosureSEC source: 0001032235-25-000024 · wk-form4_1766178551.xml · nonDerivative · entry 1 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,817,300 F1 · shares: 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. F2 · price: Represents the weighted average of sale prices, ranging from $57.27 to $58.26. 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. Read SEC document |
| December 02, 2025 Filed Dec 3, 2025 21:32 UTC | PEGASYSTEMS INC PEGA · Entity 309 | Exercise / conversionRestricted Stock Units · Derivative | 2,498 | $0.00 Strike: $0.00 | $0.00 |
DisclosureSEC source: 0001032235-25-000022 · wk-form4_1764797545.xml · derivative · entry 7 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 2,498 Underlying: Common stock · 2,498 shares Expires 2026-03-02 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F1 · shares: Each restricted stock unit represents the right to receive, following vesting, one share of the issuer's common stock. F2 · derivative.exercise_date: 20% of the restricted stock units vested on the Date Exercisable in Table II, and the remaining 80% vest in equal quarterly installments over the following four years. Read SEC document |
| December 02, 2025 Filed Dec 3, 2025 21:32 UTC | PEGASYSTEMS INC PEGA · Entity 309 | Tax withholdingCommon stock | 1,208 | $54.85 | $66,258.80 |
DisclosureSEC source: 0001032235-25-000022 · wk-form4_1764797545.xml · nonDerivative · entry 2 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 44,845,654 Read SEC document |
| December 02, 2025 Filed Dec 3, 2025 21:32 UTC | PEGASYSTEMS INC PEGA · Entity 309 | Exercise / conversionCommon stock | 2,498 | $0.00 | $0.00 |
DisclosureSEC source: 0001032235-25-000022 · wk-form4_1764797545.xml · nonDerivative · entry 1 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 44,846,862 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. Read SEC document |
| November 06, 2025 Filed Nov 7, 2025 22:26 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 18,075 | $59.05 | $1,067,328.75 |
DisclosureSEC source: 0001032235-25-000018 · wk-form4_1762554364.xml · nonDerivative · entry 8 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,844,364 F1 · shares: 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. F5 · price: Represents the weighted average of sale prices, ranging from $58.91 to $59.90. 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. Read SEC document |
| November 06, 2025 Filed Nov 7, 2025 22:26 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 26,925 | $58.42 | $1,572,958.50 |
DisclosureSEC source: 0001032235-25-000018 · wk-form4_1762554364.xml · nonDerivative · entry 7 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,862,439 F1 · shares: 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. F4 · price: Represents the weighted average of sale prices, ranging from $57.91 to $58.90. 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. Read SEC document |
| November 05, 2025 Filed Nov 7, 2025 22:26 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 4,031 | $60.87 | $245,366.97 |
DisclosureSEC source: 0001032235-25-000018 · wk-form4_1762554364.xml · nonDerivative · entry 6 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,889,364 F1 · shares: 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. F3 · price: Represents the weighted average of sale prices, ranging from $60.53 to $61.52. 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. Read SEC document |
| November 05, 2025 Filed Nov 7, 2025 22:26 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 40,969 | $59.95 | $2,456,091.55 |
DisclosureSEC source: 0001032235-25-000018 · wk-form4_1762554364.xml · nonDerivative · entry 5 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,893,395 F1 · shares: 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. F2 · price: Represents the weighted average of sale prices, ranging from $59.53 to $60.52. 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. Read SEC document |
| October 22, 2025 Filed Oct 23, 2025 21:15 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 58 | $66.25 | $3,842.50 |
DisclosureSEC source: 0001032235-25-000014 · wk-form4_1761254131.xml · nonDerivative · entry 13 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,934,364 F1 · shares: 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. F10 · price: Represents the weighted average of sale prices, ranging from $66.23 to $66.27. 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. Read SEC document |
| October 22, 2025 Filed Oct 23, 2025 21:15 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 9,740 | $65.33 | $636,314.20 |
DisclosureSEC source: 0001032235-25-000014 · wk-form4_1761254131.xml · nonDerivative · entry 12 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,934,422 F1 · shares: 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. F9 · price: Represents the weighted average of sale prices, ranging from $65.18 to $66.04. 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. Read SEC document |
| October 22, 2025 Filed Oct 23, 2025 21:15 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 17,824 | $64.76 | $1,154,282.24 |
DisclosureSEC source: 0001032235-25-000014 · wk-form4_1761254131.xml · nonDerivative · entry 11 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,944,162 F1 · shares: 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. F8 · price: Represents the weighted average of sale prices, ranging from $64.17 to $65.17. 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. Read SEC document |
| October 22, 2025 Filed Oct 23, 2025 21:15 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 5,636 | $63.64 | $358,675.04 |
DisclosureSEC source: 0001032235-25-000014 · wk-form4_1761254131.xml · nonDerivative · entry 10 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,961,986 F1 · shares: 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. F7 · price: Represents the weighted average of sale prices, ranging from $63.16 to $64.16. 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. Read SEC document |
| October 22, 2025 Filed Oct 23, 2025 21:15 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 11,742 | $62.77 | $737,045.34 |
DisclosureSEC source: 0001032235-25-000014 · wk-form4_1761254131.xml · nonDerivative · entry 9 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,967,622 F1 · shares: 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. F6 · price: Represents the weighted average of sale prices, ranging from $62.16 to $63.16. 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. Read SEC document |
| October 21, 2025 Filed Oct 23, 2025 21:15 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 14,962 | $57.41 | $858,968.42 |
DisclosureSEC source: 0001032235-25-000014 · wk-form4_1761254131.xml · nonDerivative · entry 8 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,979,364 F1 · shares: 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. F5 · price: Represents the weighted average of sale prices, ranging from $57.25 to $57.62. 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. Read SEC document |
| October 21, 2025 Filed Oct 23, 2025 21:15 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 20,374 | $56.91 | $1,159,484.34 |
DisclosureSEC source: 0001032235-25-000014 · wk-form4_1761254131.xml · nonDerivative · entry 7 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 44,994,326 F1 · shares: 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. F4 · price: Represents the weighted average of sale prices, ranging from $56.24 to $57.24 . 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. Read SEC document |
| October 21, 2025 Filed Oct 23, 2025 21:15 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 5,158 | $55.88 | $288,229.04 |
DisclosureSEC source: 0001032235-25-000014 · wk-form4_1761254131.xml · nonDerivative · entry 6 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 45,014,700 F1 · shares: 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. F3 · price: Represents the weighted average of sale prices, ranging from $55.23 to $56.22. 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. Read SEC document |
| October 21, 2025 Filed Oct 23, 2025 21:15 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 4,506 | $54.62 | $246,117.72 |
DisclosureSEC source: 0001032235-25-000014 · wk-form4_1761254131.xml · nonDerivative · entry 5 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 45,019,858 F1 · shares: 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. F2 · price: Represents the weighted average of sale prices, ranging from $54.18 to $55.15. 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. Read SEC document |
| September 17, 2025 Filed Sep 19, 2025 20:34 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 4,054 | $58.72 | $238,050.88 |
DisclosureSEC source: 0001032235-25-000012 · wk-form4_1758314094.xml · nonDerivative · entry 6 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 45,024,364 F1 · shares: 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. F3 · price: Represents the weighted average of sale prices, ranging from $58.65 to $58.90. 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. Read SEC document |
| September 17, 2025 Filed Sep 19, 2025 20:34 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 40,946 | $58.26 | $2,385,513.96 |
DisclosureSEC source: 0001032235-25-000012 · wk-form4_1758314094.xml · nonDerivative · entry 5 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 45,028,418 F1 · shares: 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. F2 · price: Represents the weighted average of sale prices, ranging from $57.65 to $58.64. 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. Read SEC document |
| September 16, 2025 Filed Sep 17, 2025 20:21 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 2,328 | $58.93 | $137,189.04 |
DisclosureSEC source: 0001032235-25-000010 · wk-form4_1758140489.xml · nonDerivative · entry 9 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 45,069,364 F4 · shares: 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. F7 · price: Represents the weighted average of sale prices, ranging from $58.79 to $59.25. The reporting person 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. F6 · balance_after: Reflects exempt transfers between the reporting person and the grantor retained annuity trusts described on this Form 4. Read SEC document |
| September 16, 2025 Filed Sep 17, 2025 20:21 UTC | PEGASYSTEMS INC PEGA · Entity 309 | SaleCommon stock | 42,672 | $58.18 | $2,482,656.96 |
DisclosureSEC source: 0001032235-25-000010 · wk-form4_1758140489.xml · nonDerivative · entry 8 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Direct Disclosed balance after: 45,071,692 F4 · shares: 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. F5 · price: Represents the weighted average of sale prices, ranging from $57.79 to $58.78. The reporting person 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. F6 · balance_after: Reflects exempt transfers between the reporting person and the grantor retained annuity trusts described on this Form 4. Read SEC document |
| September 16, 2025 Filed Sep 17, 2025 20:21 UTC | PEGASYSTEMS INC PEGA · Entity 309 | GiftCommon stock | 9,737,104 | $0.00 | $0.00 |
DisclosureSEC source: 0001032235-25-000010 · wk-form4_1758140489.xml · nonDerivative · entry 7 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Indirect · Alan N. Trefler Irrevocable Non-GST Trust of 2022 Disclosed balance after: 10,876,525 F3 · shares: Transfers of shares from the Alan N. Trefler Grantor Retained Annuity Trust I of 2023 and the Alan N. Trefler Grantor Retained Annuity Trust II of 2023 to the Alan N. Trefler Irrevocable Non-GST Trust of 2022. Read SEC document |
| September 16, 2025 Filed Sep 17, 2025 20:21 UTC | PEGASYSTEMS INC PEGA · Entity 309 | GiftCommon stock | 2,939,019 | $0.00 | $0.00 |
DisclosureSEC source: 0001032235-25-000010 · wk-form4_1758140489.xml · nonDerivative · entry 6 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Indirect · Alan N. Trefler Grantor Retained Annuity Trust II of 2023 Disclosed balance after: 0 F3 · shares: Transfers of shares from the Alan N. Trefler Grantor Retained Annuity Trust I of 2023 and the Alan N. Trefler Grantor Retained Annuity Trust II of 2023 to the Alan N. Trefler Irrevocable Non-GST Trust of 2022. F1 · balance_after: Reflects exempt transfers between the reporting person and the trust described in the Nature of Indirect Beneficial Ownership column . Read SEC document |
| September 16, 2025 Filed Sep 17, 2025 20:21 UTC | PEGASYSTEMS INC PEGA · Entity 309 | GiftCommon stock | 6,798,085 | $0.00 | $0.00 |
DisclosureSEC source: 0001032235-25-000010 · wk-form4_1758140489.xml · nonDerivative · entry 5 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Indirect · Alan N. Trefler Grantor Retained Annuity Trust I of 2023 Disclosed balance after: 0 F3 · shares: Transfers of shares from the Alan N. Trefler Grantor Retained Annuity Trust I of 2023 and the Alan N. Trefler Grantor Retained Annuity Trust II of 2023 to the Alan N. Trefler Irrevocable Non-GST Trust of 2022. F1 · balance_after: Reflects exempt transfers between the reporting person and the trust described in the Nature of Indirect Beneficial Ownership column . Read SEC document |
| September 15, 2025 Filed Sep 17, 2025 20:21 UTC | PEGASYSTEMS INC PEGA · Entity 309 | GiftCommon stock | 2,071,585 | $0.00 | $0.00 |
DisclosureSEC source: 0001032235-25-000010 · wk-form4_1758140489.xml · nonDerivative · entry 4 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Indirect · The Trefler 2025 Trust Disclosed balance after: 2,071,585 F2 · shares: Transfer of shares from the Alan N. Trefler Irrevocable Non-GST Trust of 2022 to The Trefler 2025 Trust. Read SEC document |
| September 15, 2025 Filed Sep 17, 2025 20:21 UTC | PEGASYSTEMS INC PEGA · Entity 309 | GiftCommon stock | 2,071,585 | $0.00 | $0.00 |
DisclosureSEC source: 0001032235-25-000010 · wk-form4_1758140489.xml · nonDerivative · entry 3 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: Plan reported Ownership: Indirect · Alan N. Trefler Irrevocable Non-GST Trust of 2022 Disclosed balance after: 1,139,421 F2 · shares: Transfer of shares from the Alan N. Trefler Irrevocable Non-GST Trust of 2022 to The Trefler 2025 Trust. Read SEC document |
| September 02, 2025 Filed Sep 4, 2025 21:00 UTC | PEGASYSTEMS INC PEGA · Entity 309 | Exercise / conversionRestricted Stock Units · Derivative | 2,496 | $0.00 Strike: $0.00 | $0.00 |
DisclosureSEC source: 0001032235-25-000008 · wk-form4_1757019651.xml · derivative · entry 8 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 4,996 Underlying: Common stock · 2,496 shares Expires 2026-03-02 Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event. F2 · security: Each restricted stock unit represents the right to receive, following vesting, one share of the issuer's common stock. F1 · shares: Represents a 5% vesting on September 2, 2025. The original grant was 24,976 restricted stock units, with 20% vesting on March 2, 2022, and the remaining 80% vesting in equal quarterly installments over the remaining four years. F3 · balance_after: All share amounts in this Form 4 have been restated to reflect a 2-for-1 forward stock split of Pegasystems Inc.'s common stock effectuated on June 20, 2025. Read SEC document |
| September 02, 2025 Filed Sep 4, 2025 21:00 UTC | PEGASYSTEMS INC PEGA · Entity 309 | Tax withholdingCommon stock | 1,025 | $54.21 | $55,565.25 |
DisclosureSEC source: 0001032235-25-000008 · wk-form4_1757019651.xml · nonDerivative · entry 7 TREFLER ALAN · CIK 0001032235 · Director · C.E.O. & Chairman · 10% owner 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 32,918,163 Read SEC document |
Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.