The chief development officer of Pagaya Technologies is selling $214,823 worth of shares to Investing.com
In a recent transaction filing with the Securities and Exchange Commission, Rosen Tami, chief development officer of Pagaya (NASDAQ:) Technologies Ltd. (NASDAQ:PGY), sold 21,547 shares of Class A common stock. The company, currently valued at approximately $768 million, has seen its stock rise nearly 8% over the past week, although InvestingPro the data shows that stocks tend to trade with high volatility. The shares were sold on January 2, 2025 at a price of $9.97 per share, for a total of $214,823. This sale was necessary to satisfy withholding tax obligations arising from the quarterly vesting of the compensatory award.
Furthermore, on January 1, 2025, Tami acquired 56,916 shares of Class A common stock at no cost, following the vesting of restricted stock units (RSUs). After these transactions, Tami directly holds 73,550 shares.
In other recent news, Pagaya Technologies reported strong financial results, with annualized revenue near $1 billion and adjusted EBITDA of $220 million. The company’s strategic plans aim to achieve GAAP profitability by 2025, with significant growth in loans, customer acquisitions and partnerships. UBS continued to cover Pagaya Technologies, issuing a Neutral rating and expressing caution due to uncertainty about the level of credit losses on risk retention assets.
Shareholders approved significant changes in the company’s corporate structure, including the gradual declassification of the board of directors, amendments related to the employment of executive officers and adjustment of the ownership threshold. Cory Vieira has been named Chief Accounting Officer, bringing extensive experience from BHG Financial, American Express (NYSE:), and GE Capital. These recent events highlight Pagaya’s strong financial results and strategic growth initiatives as the company continues to expand its operations and partnerships.
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