secwatch.observer — SEC 8-K summary
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Issuer:     PEGASYSTEMS INC (PEGA)
CIK:        0001013857
Form:       8-K
Filed at:   2023-03-10T23:59:59+00:00
Accession:  0001013857-23-000063
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pegasystems boosts share reserve by 6M shares in LTIP amendment; discloses 2023 executive comp
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- Board approved amendment to 2004 LTIP, increasing shares available by 6,000,000, subject to shareholder approval.
- CEO Alan Trefler: base salary $495,000, target bonus 100%; COO/CFO Kenneth Stillwell: $530,000, 70% target.
- Chief Product Officer Kerim Akgonul: $450,000 base, 60% target; Chief of Clients Leon Trefler: $400,000 base, 50% target plus $375,000 sales commissions.
- John Higgins (Chief of Client & Partner Success): base £371,000, 50% target plus £145,000 sales commissions.
- Aggregate target incentive payments for executive officers total $1,336,000 and £185,500.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1013857/000101385723000063/0001013857-23-000063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1013857/000101385723000063/pega-20230306.htm
  HTML page:      https://secwatch.observer/filing/0001013857-23-000063

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