Higgins John Gerard, Chief of Client & Partner Success at Pegasystems, has filed 64 Form 4 transactions, all in a single ticker: PEGA. The pattern is entirely mechanical. There are no open-market purchases (code P) and no open-market sales (code S). His total buy value and total sell value are both zero. Every transaction in the recent window pairs an option exercise (code M, valued at $0) with a corresponding share withholding to cover tax (code F).
The most recent cluster, dated September 7, 2026, shows an F transaction valued at $47,559.28 paired with an M. The same pairing appears on September 5 ($45,915.44), September 4 ($34,023.44), and twice on September 1 ($3,828.24 and $21,165.75). This quarterly rhythm repeats in June 2026, with F values of $44,151.12, $43,520.32, $31,669.22, $3,680.19, and $20,509.02. The March 2026 filings show larger withholdings: $60,089.28 on March 7, $57,824.45 on March 5, and $92,990.66 on March 4.
The data indicates no discretionary buying or selling. The F transactions are automatic deductions of shares to satisfy tax obligations on vested equity. The M exercises carry no cash value in the filings. The dollar figures on the F side fluctuate with the share price at the time of vesting, which explains the variation across dates. The absence of P or S codes across 64 filings means Higgins has not expressed a directional view through the open market during this period. His activity is compensation-driven, not conviction-driven.
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