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Form 8-K

sec.gov

8-K — PEGASYSTEMS INC

Accession: 0001013857-26-000025

Filed: 2026-04-21

Period: 2026-04-21

CIK: 0001013857

SIC: 7374 (SERVICES-COMPUTER PROCESSING & DATA PREPARATION)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — pega-20260421.htm (Primary)

EX-99.1 (q12026_ex-991.htm)

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8-K

8-K (Primary)

Filename: pega-20260421.htm · Sequence: 1

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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): April 21, 2026

____________________

PEGASYSTEMS INC.

(Exact name of Registrant as specified in its charter)

_________________________________

Massachusetts

1-11859

04-2787865

(State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

225 Wyman Street, Waltham, MA 02451

(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)

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))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading symbol(s) Name of each exchange on which registered

Common Stock, $.01 par value per share PEGA NASDAQ Global Select Market

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 2.02    RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On April 21, 2026, Pegasystems Inc. issued a press release announcing its financial results for the first quarter of 2026. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.

The information in this Item 2.02 and the Exhibits attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.

ITEM 9.01    FINANCIAL STATEMENTS AND EXHIBITS

Exhibit No. Description

99.1

Press release issued by Pegasystems Inc.

104

Cover Page Interactive Data File (formatted as Inline XBRL)

SIGNATURE

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 thereunto duly authorized.

Pegasystems Inc.

Dated: April 21, 2026 By: /s/ KENNETH STILLWELL

Kenneth Stillwell

Chief Operating Officer and Chief Financial Officer

(Principal Financial Officer)

EX-99.1

EX-99.1

Filename: q12026_ex-991.htm · Sequence: 2

Document

EXHIBIT 99.1

Blueprint AI Drives Pega Cloud Momentum in Q1 2026

•Pega Cloud Annual Contract Value (ACV) increases 29% year over year (27% in constant currency)

•ACV grows 12% year over year (11% in constant currency)

•Cash flow from operations and free cash flow both exceed $200M

WALTHAM, Mass. — April 21, 2026 — Pegasystems Inc. (NASDAQ: PEGA), the Enterprise Transformation Company™, released its financial results for the first quarter of 2026.

“Pega’s Blueprint AI helps enterprises reimagine their businesses while Pega’s powerful workflow engine provides the harness that ensures predictable outcomes,” said Alan Trefler, founder and CEO, Pegasystems. “We continue to be differentiated in the market and of great value as enterprises recognize the need for a sustainable AI architecture.”

“As enterprises move past the experimental phase of AI and demand real ROI, Pega's proven ability to generate measurable value allows us to showcase the financial impact we provide to our clients," said Ken Stillwell, COO and CFO, Pegasystems. "This positions us well to drive ACV growth and expand cash flow margins.”

Financial and performance metrics (1)

Reconciliation of ACV and Constant Currency ACV

(in millions, except percentages) March 31, 2025 March 31, 2026

1-Year Change

ACV $ 1,445 $ 1,622 12  %

Impact of changes in foreign exchange rates —  (24)

Constant currency ACV

$ 1,445 $ 1,598 11  %

Note: Constant currency ACV is calculated by applying the March 31, 2025 foreign exchange rates to current period shown.

(1) Refer to the schedules at the end of this release for additional information, including a reconciliation of GAAP and non-GAAP measures.

1

EXHIBIT 99.1

(continued)

Cash Flow Growth

(Dollars in thousands,

except per share amounts) Three Months Ended

March 31,

2026 2025 Change

Total revenue $ 429,973  $ 475,633  (10) %

Net income - GAAP $ 32,764  $ 85,422  (62) %

Net income - non-GAAP $ 83,068  $ 140,542  (41) %

Diluted earnings per share - GAAP $ 0.18  $ 0.46  (61) %

Diluted earnings per share - non-GAAP $ 0.46  $ 0.76  (39) %

(Dollars in thousands) Three Months Ended

March 31, Change

2026 2025

Pega Cloud $ 205,031  48  % $ 151,123  32  % $ 53,908  36  %

Maintenance 75,317  17  % 76,368  16  % (1,051) (1) %

Subscription services 280,348  65  % 227,491  48  % 52,857  23  %

Subscription license 94,852  22  % 187,721  39  % (92,869) (49) %

Subscription 375,200  87  % 415,212  87  % (40,012) (10) %

Consulting 54,773  13  % 60,421  13  % (5,648) (9) %

Total revenue

$ 429,973  100  % $ 475,633  100  % $ (45,660) (10) %

Quarterly conference call

A conference call and audio-only webcast will be conducted at 8:00 a.m. EDT on Wednesday, April 22, 2026.

Members of the public and investors are invited to join the call and participate in the question and answer session by dialing 1 (800) 715-9871 (domestic) or 1 (646) 307-1963 (international) and using Conference ID 9410633, or via https://events.q4inc.com/attendee/156449953 by logging onto www.pega.com at least five minutes prior to the event's broadcast and clicking on the webcast icon in the Investors section.

2

Discussion of non-GAAP financial measures

Our non-GAAP financial measures should only be read in conjunction with our consolidated financial statements prepared in accordance with GAAP. We believe that these measures help investors understand our core operating results and prospects, which is consistent with how management measures and forecasts our performance without the effect of often one-time charges and other items outside our normal operations. Management uses these measures to assess the performance of the company's operations and establish operational goals and incentives. They are not a substitute for financial measures prepared under U.S. GAAP. Refer to the schedules at the end of this release for additional information, including a reconciliation of GAAP and non-GAAP measures.

Forward-looking statements

Certain statements in this press release may be "forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995, including statements about the growth and development of our business and market.

Words such as expects, anticipates, intends, plans, believes, will, could, should, estimates, may, targets, strategies, intends to, projects, positions, forecasts, guidance, likely, and usually or variations of such words and other similar expressions identify forward-looking statements. These statements represent our views only as of the date the statement was made and are based on current expectations and assumptions.

Forward-looking statements deal with future events and are subject to risks and uncertainties that are difficult to predict, including, but not limited to:

•our future financial performance and business plans;

•the adequacy of our liquidity and capital resources;

•the successful execution of investments in artificial intelligence;

•the timing of revenue recognition;

•variation in demand for our products and services;

•reliance on key personnel;

•potential legal and financial liabilities, as well as damage to our reputation, due to cyber-attacks;

•security breaches and security flaws;

•our ability to protect our intellectual property rights, costs associated with defending such rights, intellectual property rights claims, and other related claims by third parties against us, including related costs, damages, and other relief that may be granted against us;

•our ongoing litigation with Appian Corp. and associated legal proceedings;

•our client retention rate; and

•management of our growth.

These risks and others that may cause actual results to differ materially from those expressed in such forward-looking statements are described further in Part I of our Annual Report on Form 10-K for the year ended December 31, 2025, and other filings we make with the SEC.

Investors are cautioned not to place undue reliance on such forward-looking statements, and there are no assurances that the results included in such statements will be achieved. Although subsequent events may cause our view to change, except as required by applicable law, we do not undertake and expressly disclaim any obligation to publicly update or revise these forward-looking statements, whether as the result of new information, future events, or otherwise.

Any forward-looking statements in this press release represent our views as of April 21, 2026.

3

About Pegasystems

Pega provides the leading AI-powered platform for enterprise transformation. The world’s most influential organizations trust our technology to reimagine how work gets done by automating workflows, personalizing customer experiences, and modernizing legacy systems. Since 1983, our scalable, flexible architecture has fueled continuous innovation, helping clients accelerate their path to the autonomous enterprise. Ready to Build for Change®? Visit www.pega.com.

Press contact:

Lisa Pintchman

VP, Corporate Communications

lisapintchman.rogers@pega.com

617-866-6022

Investor contact:

Peter Welburn

VP, Corporate Development & Investor Relations

PegaInvestorRelations@pega.com

617-498-8968

All trademarks are the property of their respective owners.

4

PEGASYSTEMS INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

Three Months Ended

March 31,

2026 2025

Revenue

Subscription services $ 280,348  $ 227,491

Subscription license 94,852  187,721

Consulting 54,773  60,421

Total revenue 429,973  475,633

Cost of revenue

Subscription services 49,449  38,128

Subscription license 471  388

Consulting 56,834  63,934

Total cost of revenue 106,754  102,450

Gross profit 323,219  373,183

Operating expenses

Selling and marketing 155,603  138,069

Research and development 82,047  74,286

General and administrative 48,573  33,828

Restructuring (153) 11

Total operating expenses 286,070  246,194

Income from operations 37,149  126,989

Foreign currency transaction gain (loss) 1,850  (5,325)

Interest income 2,954  5,335

Interest expense (44) (1,027)

(Loss) on capped call transactions —  (223)

Other (loss) income, net (2,204) 561

Income before provision for income taxes 39,705  126,310

Provision for income taxes 6,941  40,888

Net income $ 32,764  $ 85,422

Earnings per share

Basic $ 0.19  $ 0.50

Diluted $ 0.18  $ 0.46

Weighted-average number of common shares outstanding

Basic 168,817  171,804

Diluted 178,841  188,826

5

PEGASYSTEMS INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

March 31, 2026 December 31, 2025

Assets

Current assets:

Cash and cash equivalents $ 269,962  $ 212,447

Marketable securities 203,992  213,352

Total cash, cash equivalents, and marketable securities 473,954  425,799

Accounts receivable, net 173,856  264,713

Unbilled receivables, net 142,057  166,478

Other current assets 114,010  121,305

Total current assets 903,877  978,295

Long-term unbilled receivables, net 87,459  102,544

Goodwill 81,380  81,506

Long-term deferred income taxes

174,251  175,472

Other long-term assets 304,031  294,027

Total assets $ 1,550,998  $ 1,631,844

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable $ 14,206  $ 12,924

Accrued expenses 79,464  44,847

Accrued compensation and related expenses 67,222  148,797

Deferred revenue 557,449  509,275

Other current liabilities 25,061  21,935

Total current liabilities 743,402  737,778

Long-term operating lease liabilities 57,075  60,825

Other long-term liabilities 44,606  45,860

Total liabilities 845,083  844,463

Total stockholders’ equity 705,915  787,381

Total liabilities and stockholders’ equity $ 1,550,998  $ 1,631,844

PEGASYSTEMS INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

Three Months Ended

March 31,

2026 2025

Net income $ 32,764  $ 85,422

Adjustments to reconcile net income to cash provided by operating activities

Non-cash items 68,681  70,409

Change in operating assets and liabilities, net 110,806  48,397

Cash provided by operating activities 212,251  204,228

Cash provided by investing activities 2,760  261,895

Cash (used in) financing activities (154,163) (575,986)

Effect of exchange rate changes on cash, cash equivalents, and restricted cash (2,898) 3,570

Net increase (decrease) in cash, cash equivalents, and restricted cash 57,950  (106,293)

Cash, cash equivalents, and restricted cash, beginning of period 216,360  341,529

Cash, cash equivalents, and restricted cash, end of period $ 274,310  $ 235,236

6

PEGASYSTEMS INC.

RECONCILIATION OF SELECTED GAAP AND NON-GAAP MEASURES

(in thousands, except percentages and per share amounts)

Three Months Ended

March 31,

2026 2025 Change

Net income - GAAP $ 32,764  $ 85,422  (62) %

Stock-based compensation (1)

45,815  41,425

Legal fees 19,964  6,544

Amortization of intangible assets 783  701

Restructuring (153) 11

Foreign currency transaction (gain) loss (1,850) 5,325

Interest on convertible senior notes —  394

Capped call transactions —  223

Other

2,233  (751)

Income taxes (2)

(16,488) 1,248

Net income - non-GAAP $ 83,068  $ 140,542  (41) %

Diluted earnings per share - GAAP $ 0.18  $ 0.46  (61) %

non-GAAP adjustments 0.28  0.30

Diluted earnings per share - non-GAAP $ 0.46  $ 0.76  (39) %

Diluted weighted-average number of common shares outstanding - GAAP 178,841  188,826  (5) %

Capped call transactions —  (4,850)

Diluted weighted-average number of common shares outstanding - non-GAAP 178,841  183,976  (3) %

Our non-GAAP financial measures reflect the following adjustments:

•Stock-based compensation: We have excluded stock-based compensation from our non-GAAP operating expenses and profitability measures. Although stock-based compensation is a key incentive offered to our employees, and we believe such compensation contributed to our revenues recognized during the periods presented and is expected to contribute to our future revenues, we continue to evaluate our business performance, excluding stock-based compensation.

•Legal fees: Legal and related fees arising from proceedings outside the ordinary course of business. We believe excluding these amounts from our non-GAAP financial measures is useful to investors as the types of events giving rise to them are not representative of our core business operations and ongoing operational performance.

•Amortization of intangible assets: We have excluded the amortization of intangible assets from our non-GAAP operating expenses and profitability measures. Amortization of intangible assets fluctuates in amount and frequency and is significantly affected by the timing and size of acquisitions. Investors should note that intangible assets contributed to our revenues recognized during the periods presented and are expected to contribute to future revenues. Amortization of intangible assets is likely to recur in future periods. We believe excluding these amounts provides a useful comparison of our operational performance in different periods.

•Restructuring: We have excluded restructuring from our non-GAAP financial measures. Restructuring fluctuates in amount and frequency and is significantly affected by the timing and size of our restructuring activities. We believe excluding these amounts from our non-GAAP financial measures is useful to investors as these amounts are not representative of our core business operations and ongoing operational performance.

•Foreign currency transaction (gain) loss: We have excluded foreign currency transaction gains and losses from our non-GAAP profitability measures. Foreign currency transaction gains and losses fluctuate in amount and frequency and are significantly affected by foreign exchange market rates. Foreign currency transaction gains and losses are likely to recur in future periods. We believe excluding these amounts provides a useful comparison of our operational performance in different periods.

•Interest on convertible senior notes: In February 2020, we issued convertible senior notes (the “Notes”), due March 1, 2025, in a private placement. The Notes accrued interest at an annual rate of 0.75%, paid semi-annually in arrears on March 1 and September 1. The outstanding Notes were repaid in their entirety at maturity. We believe that excluding the amortization of issuance costs provides a useful comparison of our operational performance in different periods.

•Capped call transactions: We have excluded gains and losses related to our capped call transactions held at fair value under U.S. GAAP. The capped call transactions were expected to reduce common stock dilution and/or offset any potential cash payments we must make, other than for principal and interest, upon conversion of the Notes. We believe excluding these amounts from our non-GAAP financial measures is useful to investors as the types of events giving rise to them are not representative of our core business operations and ongoing operational performance.

7

•Other: We have excluded gains and losses from our venture investments. We believe excluding these amounts from our non-GAAP financial measures is useful to investors as the types of events giving rise to them are not representative of our core business operations and ongoing operational performance.

•Diluted weighted-average number of common shares outstanding:

•Capped call transactions: In periods of GAAP net income, the shares calculated by applying the if-converted method related to our Notes are included in the diluted weighted-average shares outstanding if they are dilutive. The capped call transactions were expected to reduce common stock dilution and/or offset any potential cash payments we must make, other than for principal and interest, upon conversion of the Notes. We believe that including the expected impact of the capped call transactions in our non-GAAP financial measures provides a useful comparison of our operational performance in different periods.

(1) Stock-based compensation:

Three Months Ended

March 31,

(Dollars in thousands)

2026 2025

Cost of revenue $ 7,876  $ 7,823

Selling and marketing 18,454  15,781

Research and development 10,019  8,385

General and administrative 9,466  9,436

$ 45,815  $ 41,425

Income tax benefit $ (9,164) $ (587)

(2) Effective income tax rates:

Three Months Ended

March 31,

2026 2025

GAAP 17  % 32  %

non-GAAP 22  % 22  %

Our GAAP effective income tax rate is subject to significant fluctuations due to several factors, including our stock-based compensation plans, research and development tax credits, and the valuation allowance on our deferred tax assets in the U.S. and U.K. We determine our non-GAAP income tax rate using applicable rates in taxing jurisdictions and assessing certain factors, including historical and forecasted earnings by jurisdiction, discrete items, and ability to realize tax assets. We believe it is beneficial for our management to review our non-GAAP results consistent with our annual plan’s effective income tax rate as established at the beginning of each year, given tax rate volatility.

8

PEGASYSTEMS INC.

RECONCILIATION OF FREE CASH FLOW (1) AND OTHER METRICS

(in thousands, except percentages)

Three Months Ended

March 31,

Change

2026 2025

Cash provided by operating activities $ 212,251  204,228  4  %

Investment in property and equipment (5,726) (1,880)

Free cash flow (1)

$ 206,525  $ 202,348  2  %

Supplemental information (2)

Legal fees

$ 2,801  $ 2,413

Restructuring 6,711  1,184

Interest paid on convertible senior notes —  1,754

Income taxes, net of refunds 5,233  4,102

$ 14,745  $ 9,453

(1) Our non-GAAP free cash flow is defined as cash provided by operating activities less investment in property and equipment. Investment in property and equipment fluctuates in amount and frequency and is significantly affected by the timing and size of investments in our facilities and equipment. We provide information on free cash flow to enable investors to assess our ability to generate cash without incurring additional external financings. This information is not a substitute for financial measures prepared under U.S. GAAP.

(2) The supplemental information discloses items that affect our cash flows and are considered by management not to be representative of our core business operations and ongoing operational performance.

•Legal fees: Legal and related fees arising from proceedings outside the ordinary course of business.

•Restructuring: Restructuring fluctuates in amount and frequency and is significantly affected by the timing and size of our restructuring activities.

•Interest paid on convertible senior notes: In February 2020, we issued the Notes, due March 1, 2025, in a private placement. The Notes accrued interest at an annual rate of 0.75%, paid semi-annually in arrears on March 1 and September 1. The outstanding Notes were repaid in their entirety at maturity.

•Income taxes, net of refunds: Direct income taxes paid net of refunds received.

PEGASYSTEMS INC.

ANNUAL CONTRACT VALUE

(in thousands, except percentages)

Annual contract value (“ACV”) - ACV represents the annualized value of our active contracts as of the measurement date. The contract's total value is divided by its duration in years to calculate ACV. ACV is a performance measure that we believe provides useful information to our management and investors.

March 31, 2026 March 31, 2025 Change

Constant Currency Change

Pega Cloud $ 906,652  $ 701,311  $ 205,341  29  % 27  %

Maintenance

276,834  298,422  (21,588) (7) % (8) %

Subscription services

1,183,486  999,733  183,753  18  % 16  %

Subscription license

438,514  445,677  (7,163) (2) % (2) %

$ 1,622,000  $ 1,445,410  $ 176,590  12  % 11  %

9

PEGASYSTEMS INC.

BACKLOG

(in thousands, except percentages)

Remaining performance obligations (“Backlog”) - Expected future revenue from existing non-cancellable contracts:

As of March 31, 2026:

Subscription services Subscription license Consulting Total

Pega Cloud Maintenance

1 year or less

$ 709,105  $ 212,262  $ 64,878  $ 42,884  $ 1,029,129  51  %

1-2 years

384,966  77,207  1,402  3,758  467,333  23  %

2-3 years

213,496  53,806  11,150  1,378  279,830  14  %

Greater than 3 years

204,057  28,945  1,013  430  234,445  12  %

$ 1,511,624  $ 372,220  $ 78,443  $ 48,450  $ 2,010,737  100  %

% of Total 75  % 19  % 4  % 2  % 100  %

Change since March 31, 2025

$ 260,513  $ (12,178) $ 33,260  $ 643  $ 282,238

21  % (3) % 74  % 1  % 16  %

As of March 31, 2025:

Subscription services Subscription license Consulting Total

Pega Cloud Maintenance

1 year or less

$ 572,341  $ 229,180  $ 33,519  $ 45,320  $ 880,360  50  %

1-2 years

331,572  73,500  3,718  2,291  411,081  24  %

2-3 years

161,259  37,779  731  144  199,913  12  %

Greater than 3 years

185,939  43,939  7,215  52  237,145  14  %

$ 1,251,111  $ 384,398  $ 45,183  $ 47,807  $ 1,728,499  100  %

% of Total 72  % 22  % 3  % 3  % 100  %

PEGASYSTEMS INC.

RECONCILIATION OF GAAP BACKLOG AND CONSTANT CURRENCY BACKLOG

(in millions, except percentages)

March 31, 2025 March 31, 2026 1 Year Growth Rate

Backlog - GAAP $ 1,728  $ 2,011  16  %

Impact of changes in foreign exchange rates —  (38)

Constant currency backlog

$ 1,728  $ 1,973  14  %

Note: Constant currency backlog is calculated by applying the March 31, 2025 foreign exchange rates to current period shown.

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Apr. 21, 2026

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PEGASYSTEMS INC.

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Entity File Number

1-11859

Entity Tax Identification Number

04-2787865

Entity Address, Address Line One

225 Wyman Street

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Address Line 1 such as Attn, Building Name, Street Name

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Name of the City or Town

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Code for the postal or zip code

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Name of the state or province.

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A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

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Indicate if registrant meets the emerging growth company criteria.

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Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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Two-character EDGAR code representing the state or country of incorporation.

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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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Local phone number for entity.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

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Title of a 12(b) registered security.

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Name of the Exchange on which a security is registered.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

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Trading symbol of an instrument as listed on an exchange.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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