Kenneth Stillwell, serving as COO and CFO, has filed 73 Form 4 transactions, all tied to a single company: Pegasystems (PEGA). The aggregate picture is decisively one-sided: roughly $6.42 million in total open-market sales against zero purchases. The recent activity confirms that bias. In the last several months, Stillwell executed open-market sales of PEGA on May 5, 2026 ($305,560), April 1, 2026 ($43,170), March 10, 2026 ($1,971,640), and March 2, 2026 ($43,370). The March 10 disposition stands out as the largest single sale in the recent window, representing over 30% of his total reported sell value for the period.
The remaining filings are largely mechanical or compensatory, not discretionary trades. A cluster of Form 4s in early June 2026 shows option exercises (code M, valued at $0) paired with shares withheld to cover taxes (code F), totaling roughly $210,000 across four dates. Similar F and M pairings appear in March and May, alongside a grant of restricted stock (code A) on March 3, 2026. These transactions do not reflect a change in his market stance; they are routine consequences of equity compensation. The only signals of conviction—open-market buys or sells—are the four S transactions, all in PEGA, all within the last three months, and all on the sell side.
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