FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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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(Print or Type Responses)

1. Name and Address of Reporting Person * HOVSEPIAN RONALD W   2. Issuer Name and Ticker or Trading Symbol PEGASYSTEMS INC [PEGA] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) ONE ROGERS STREET 3. Date of Earliest Transaction (Month/Day/Year) 01/02/2019 (Street) CAMBRIDGE, MA 02142 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(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 Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 01/02/2019   M   628 (1) A $ 0 628 (2) D

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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 Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Restricted Stock Units (3)

$ 0

01/02/2019

M

1,282 (4)

01/02/2019

(5)

Common Stock

1,282

$ 0

1,282

D

Restricted Stock Units (3)

$ 0

01/02/2019

M

628 (1)

01/02/2019

(5)

Common Stock

628

$ 0

654

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
HOVSEPIAN RONALD W ONE ROGERS STREET CAMBRIDGE, MA 02142	X

Signatures

/s/ Janet Mesrobian, Esq., Attorney-In-Fact for Ronald Hovsepian		01/04/2019
**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 initial vesting on January 2, 2019, the first business day following the effective date of Mr. Hovsepian's appointment to the Board of Directors as of January 1, 2019. The original grant was 1,282 Restricted Stock Units (RSUs). The remaining 654 shares will vest on March 28, 2019. The exact cash value of the shares was pro-rated to reflect the number of days of expected service from the date of his appointment, to the next Annual Meeting of Stockholders.
(2)	Does not include shares of common stock subject to unvested restricted stock units and/or options awards.
(3)	Each restricted stock unit represents the right to receive, following vesting, one share of the issuer's common stock.
(4)	Represents shares of unrestricted common stock received as consideration for Mr. Hovsepian's services as a Director for the upcoming prorated portion of the current year.
(5)	Once vested, the shares of common stock are not subject to expiration.

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