<SEC-DOCUMENT>0001013857-22-000045.txt : 20220303
<SEC-HEADER>0001013857-22-000045.hdr.sgml : 20220303
<ACCEPTANCE-DATETIME>20220303174233
ACCESSION NUMBER:		0001013857-22-000045
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20220216
FILED AS OF DATE:		20220303
DATE AS OF CHANGE:		20220303

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Trefler Leon
		CENTRAL INDEX KEY:			0001480560

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11859
		FILM NUMBER:		22710639

	MAIL ADDRESS:	
		STREET 1:		1 MAIN STREET
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02142

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PEGASYSTEMS INC
		CENTRAL INDEX KEY:			0001013857
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		IRS NUMBER:				042787865
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE MAIN STREET
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02142-1531
		BUSINESS PHONE:		6173749600

	MAIL ADDRESS:	
		STREET 1:		ONE MAIN STREET
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02142-1531
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>wf-form3_164634732270371.xml
<DESCRIPTION>FORM 3
<TEXT>
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<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2022-02-16</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001013857</issuerCik>
        <issuerName>PEGASYSTEMS INC</issuerName>
        <issuerTradingSymbol>PEGA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001480560</rptOwnerCik>
            <rptOwnerName>Trefler Leon</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PEGASYSTEMS INC.</rptOwnerStreet1>
            <rptOwnerStreet2>ONE MAIN STREET</rptOwnerStreet2>
            <rptOwnerCity>CAMBRIDGE</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02142</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief of Clients and Markets</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>20020</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>11.05</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2013-12-12</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2022-12-12</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10756.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>20.05</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2015-03-07</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2024-03-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>24553.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>20.49</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2016-03-02</value>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2025-03-02</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>30365.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>25.2</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2017-03-09</value>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2026-03-09</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>35295.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Stock Units</value>
                <footnoteId id="F5"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.0</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2018-03-02</value>
                <footnoteId id="F6"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F7"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>370.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>44.3</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2018-03-02</value>
                <footnoteId id="F8"/>
            </exerciseDate>
            <expirationDate>
                <value>2027-03-02</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>24382.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Stock Units</value>
                <footnoteId id="F5"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.0</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2019-03-05</value>
                <footnoteId id="F9"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F7"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1812.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>58.95</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2019-03-05</value>
                <footnoteId id="F10"/>
            </exerciseDate>
            <expirationDate>
                <value>2028-03-05</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>23327.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Stock Units</value>
                <footnoteId id="F5"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.0</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2020-03-06</value>
                <footnoteId id="F11"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F7"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3513.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>64.35</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2020-03-06</value>
                <footnoteId id="F12"/>
            </exerciseDate>
            <expirationDate>
                <value>2029-03-06</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>26582.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Stock Units</value>
                <footnoteId id="F5"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.0</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2021-03-03</value>
                <footnoteId id="F13"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F7"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>4347.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>90.05</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2021-03-03</value>
                <footnoteId id="F14"/>
            </exerciseDate>
            <expirationDate>
                <value>2030-03-03</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>26502.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Stock Units</value>
                <footnoteId id="F5"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.0</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2022-03-02</value>
                <footnoteId id="F15"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F7"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>130.45</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2022-03-02</value>
                <footnoteId id="F16"/>
            </exerciseDate>
            <expirationDate>
                <value>2031-03-02</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>13143.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Options vested 20% on December 12, 2013, with the remaining 80% vesting in equal quarterly installments over the next four years.</footnote>
        <footnote id="F2">Options vested 20% on March 7, 2015, with the remaining 80% vesting in equal quarterly installments over the next four years.</footnote>
        <footnote id="F3">Options vested 20% on March 2, 2016, with the remaining 80% vesting in equal quarterly installments over the next four years.</footnote>
        <footnote id="F4">Options vested 20% on March 9, 2017, with the remaining 80% vesting in equal quarterly installments over the next four years.</footnote>
        <footnote id="F5">Each restricted stock unit represents the right to receive, following vesting, one share of the issuer's common stock.</footnote>
        <footnote id="F6">The original grant was 7,387 restricted stock units, with 20% vesting on March 2, 2018, and the remaining 80% vesting in equal quarterly installments over the next four years.</footnote>
        <footnote id="F7">Once vested, shares of common stock are not subject to expiration.</footnote>
        <footnote id="F8">Options vested 20% on March 2, 2018, with the remaining 80% vesting in equal quarterly installments over the next four years.</footnote>
        <footnote id="F9">The original grant was 7,246 restricted stock units, with 20% vesting on March 5, 2019, and the remaining 80% vesting in equal quarterly installments over the remaining four years.</footnote>
        <footnote id="F10">Options vested 20% on March 5, 2019, with the remaining 80% vesting in equal quarterly installments over the next four years.</footnote>
        <footnote id="F11">The original grant was 7,806 restricted stock units, with 20% vesting on March 6, 2020, and the remaining 80% vesting in equal quarterly installments over the remaining four years.</footnote>
        <footnote id="F12">Options vested 20% on March 6, 2020, with the remaining 80% vesting in equal quarterly installments over the next four years.</footnote>
        <footnote id="F13">The original grant was 6,687 restricted stock units, with 20% vesting on March 3, 2021, with the remaining 80% vesting in equal quarterly installments over the next four years.</footnote>
        <footnote id="F14">Options vested 20% on March 3, 2021, with the remaining 80% vesting in equal quarterly installments over the next four years.</footnote>
        <footnote id="F15">The original grant is 3,843 restricted stock units. The RSUs will vest 20% on March 2, 2022, with the remaining 80% vesting in equal quarterly installments over the remaining four years.</footnote>
        <footnote id="F16">Options will vest 20% on March 2, 2022, with the remaining 80% vesting in equal quarterly installments over the next four years.</footnote>
    </footnotes>

    <remarks>Leon Trefler became Pegasystems Inc.'s Chief of Clients and Markets on February 16, 2022. EXHIBIT LIST: EX-24 LTrefler Exhibit 24</remarks>

    <ownerSignature>
        <signatureName>/s/ Jenna L. Burstyn, Attorney-in-Fact for Leon Trefler</signatureName>
        <signatureDate>2022-03-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
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<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>section16poa-leontrefler.htm
<DESCRIPTION>LTREFLER EXHIBIT 24
<TEXT>
<!-- Document created using Workiva -->
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<pre>

POWER OF ATTORNEY
For Executing Forms 3, 4 and 5

The undersigned hereby constitutes and appoints each of Matthew J. Cushing and Jenna L. Burstyn, signing singly, as the undersigned's true and lawful attorney-in-fact to:

(1) execute for and on behalf of the undersigned, in the undersigned?s capacity as an officer and/or director of Pegasystems Inc. (the "Company"), Forms 3, 4 and 5 (including any amendments thereto) in accordance with Section 16(a) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the rules thereunder; and

(2) do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete the execution of any such Forms 3, 4 and 5 and the timely filing of such forms with the United States Securities and Exchange Commission (the "SEC") and any other authority; and

(3) take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in his or her discretion.

The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform all and every act and thing whatsoever requisite, necessary and proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or his or her substitute or substitutes, shall lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers herein granted.  The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned's liabilities or responsibilities to comply with Section 16 of the Exchange Act.

This Power of Attorney replaces in their entirety any and all prior powers of attorney executed by the undersigned with respect to the subject matters set forth herein, including any powers of attorney previously filed with the SEC, which prior powers of attorney are hereby revoked in their entirety.  This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4 and 5 with respect to the undersigned's holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact.

IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed this 28th day of February, 2022.



Signed:/s/ Leon Trefler
LEON TREFLER
CHIEF OF CLIENTS AND MARKETS
</pre>
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