Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
TREFLER ALAN
 2. Issuer Name and Ticker or Trading Symbol
PEGASYSTEMS INC [PEGA] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
C.E.O. & Chairman
(Last)
(First)
(Middle)

C/O PEGASYSTEMS INC., 1 ROGERS STREET		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2017
(Street)


CAMBRIDGE, MA 02142		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(check applicable line)

_X_ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Common Stock 05/12/2017   S4 0 D $ 0 39,843,848 D  
Common Stock 05/12/2017   S4 12,496 D $ 55.82 (1) 105,504 (2) I Trefler Foundation
Common Stock 05/15/2017   S4 0 D $ 0 39,843,848 D  
Common Stock 05/15/2017   S4 7,504 D $ 55.47 (3) 98,000 (2) I Trefler Foundation

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
TREFLER ALAN
C/O PEGASYSTEMS INC.
1 ROGERS STREET
CAMBRIDGE, MA 02142		       C.E.O. & Chairman  

Signatures

/s/ Janet Mesrobian, Esq., Attorney-In-Fact for Alan Trefler 02/13/2018
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Represents the weighted average of the sale prices on May 12, 2017, ranging from $55.75 to $55.83.
(2) Shares owned by the Trefler Foundation, of which Mr. Trefler has no pecuniary or beneficial interest, and expressly disclaims beneficial ownership of the shares of Pegasystems Inc. stock which are held by the Trefler Foundation. Mr. Trefler does however retain voting and dispositive control over such shares.
(3) Represents the weighted average of the sale prices on May 15, 2017, ranging from $55.00 to $55.70.

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