-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
WXbaC6/XoL+ShKba9uTpjbZHVn0WKqPoack5NdzFN0uw/tLiC+RxOT382aWvlov5
VsLp1hKw787s1ocxAhKCEw==
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 20, 2009 Pegasystems Inc. (Exact name of registrant as specified in its charter) Commission File Number: 1-11859 Massachusetts 04-2787865 (State or other jurisdiction of (IRS Employer incorporation) Identification No.) 101 Main Street, Cambridge, Massachusetts 02142 (Address of principal executive offices, including zip code) 617-374-9600 (Registrant's telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Item 7.01. Regulation FD Disclosure On November 24, 2009, the Company issued a press release announcing an expansion of its current share repurchase program (the "Current Repurchase Program"). Under this expansion, an additional $15 million in repurchases of the Company's common stock has been approved, over and above the initial $15 million authorization, and the expiration date of the Current Repurchase Program has been extended from December 31, 2009 to December 31, 2010. This expansion is effective as of November 20, 2009. The Company has established a pre-arranged stock repurchase plan, intended to comply with the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and of Rule 10b-18 of the Exchange Act (the "10b5-1 Plan"). Shares that are repurchased under the 10b5-1 Plan will be repurchased under the Current Repurchase Program. Any actual repurchases under the Current Repurchase Program will be disclosed in the Company's annual report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission for the quarterly periods ending between December 31, 2009 and December 31, 2010. Item 9.01. Financial Statements and Exhibits EX-99.1 Press Release issued by Pegasystems Inc. on November 24, 2009 Signature(s) Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Pegasystems Inc. Date: November 25, 2009 By: /s/ Shawn Hoyt Shawn Hoyt General Counsel and Secretary Exhibit Index Exhibit No.
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
EX-99.1 Press Release issued by Pegasystems Inc. on November 24, 2009
EXHIBIT 99.1
For Information, contact:
Craig Dynes
Chief Financial Officer
617-866-6020
craig.dynes@pega.com
Pegasystems Expands Current Share Repurchase Program
CAMBRIDGE, Mass., November 24, 2009 -
Pegasystems (NASDAQ: PEGA), the leader in Business Process Management, today announced that its Board of Directors has authorized an expansion of the Company's current share repurchase program (the "Current Repurchase Program"). Under this expansion, an additional $15 million in repurchases of Pegasystems common stock has been approved, over and above the initial $15 million authorization, and the expiration date of the Current Repurchase Program has been extended to December 31, 2010. This expansion is effective as of November 20, 2009. Through November 20, 2009, the Company had repurchased 836,728 shares under the Current Repurchase Program, for an average price of $16.23 per share.At the Company's discretion, the purchases will be made from time to time on the open market or in privately negotiated transactions. Shares may be repurchased in such amounts as market conditions warrant, subject to regulatory and other considerations.
The Company has established a pre-arranged stock repurchase plan, intended to comply with the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and of Rule 10b-18 of the Exchange Act (the "10b5-1 Plan"). Shares that are repurchased under the 10b5-1 Plan will be repurchased under the Current Repurchase Program.
Any actual repurchases under the Current Repurchase Program will be disclosed in the Company's annual reports on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission for the quarterly periods ending between December 31, 2009 and December 31, 2010.
About Pegasystems
Pegasystems (NASDAQ: PEGA), the leader in Business Process Management, provides software to drive revenue growth, productivity and agility for the world's most sophisticated organizations. Customers use our award-winning SmartBPM® suite to improve customer service, reach new markets and boost operational effectiveness.
Our patented SmartBPM technology makes enterprise applications easy to build and change by directly capturing business objectives and eliminating manual programming. SmartBPM unifies business rules and processes into composite applications that leverage existing systems -- empowering businesspeople and IT staff to Build for Change®, deliver value quickly and outperform their competitors.
Pegasystems' suite is complemented by best-practice frameworks designed for leaders in financial services, insurance, healthcare, government, life sciences, communications, manufacturing and other industries.
Headquartered in Cambridge, MA, Pegasystems has offices in North America, Europe and Asia. Visit us at www.pega.com.
All trademarks are the property of their respective owners.
The information contained in this press release is not a commitment, promise, or legal obligation to deliver any material, code or functionality. The development, release and timing of any features or functionality described remains at the sole discretion of Pegasystems, Pegasystems specifically disclaims any liability with respect to this information.
###