secwatch.observer — SEC 8-K summary
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Issuer:     PEGASYSTEMS INC (PEGA)
CIK:        0001013857
Form:       8-K
Filed at:   2023-02-13T23:59:59+00:00
Accession:  0001013857-23-000005
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pegasystems approves 2023 executive incentive plan with RSU election option
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- Plan funded 75% by financial goals, 25% by strategic goals; threshold at 70% of target.
- Executives may elect 50% of target bonus as RSUs valued at 85% of grant-date closing price.
- Enhanced incentive possible if above 100% funding; no payouts if below 70% threshold.
- RSUs vest fully in March 2024, contingent on threshold funding and individual performance.
- Plan supersedes other incentive plans for eligible Section 16 officers and ALT members.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1013857/000101385723000005/0001013857-23-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1013857/000101385723000005/pega-20230207.htm
  HTML page:      https://secwatch.observer/filing/0001013857-23-000005

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer