In a recent deal filed with the Securities and Exchange Commission, Rosen sold Tammy, chief development officer of Pagaya (NASDAQ:) Technologies Ltd. (NASDAQ:PGY), 21,547 Class A common shares. The company, currently worth about $768 million, has seen its shares rise about 8% over the past week. InvestingPro Data indicates that the stock typically trades with high volatility. The shares were sold on January 2, 2025, at $9.97 per share, for a total of $214,823. This sale was necessary to satisfy tax withholding obligations resulting from the award of a quarterly compensatory award.
Additionally, on January 1, 2025, Tammy acquired 56,916 shares of Class A common stock at no cost, after the vesting of restricted stock units (RSUs). Following these transactions, Tammy now directly owns 73,550 shares.
In other recent news, Pagaya Technologies reported strong financial results, with annual revenue approaching $1 billion and adjusted EBITDA of $220 million. The company's strategic plans aim to reach GAAP profitability by 2025, with significant growth in loans, customer acquisition and partner relationships. UBS has resumed coverage on Pagaya Technologies, issued a Neutral rating and expressed caution due to uncertainties surrounding the level of credit losses from risk holding assets.
Shareholders approved major changes to the company's corporate structure, including phased declassification of the Board of Directors, amendments related to the appointment of executive officers, and an adjustment to the ownership limit. Cory Vieira has been appointed as Chief Accounting Officer, bringing extensive experience from BHG Financial, American Express (NYSE:), and General Electric Capital. These latest developments highlight Pagaya's strong financial performance and strategic growth initiatives as the company continues to expand its operations and partnerships.
This article was created with the power of artificial intelligence and reviewed by an editor. For more information, see our terms and conditions.
