SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported)
May 23, 2002
Pegasus Solutions, Inc.
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(Exact name of registrant as specified in its charter)
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<Caption>
Delaware 000-22935 75-2605174
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(State of Incorporation) (Commission File Number) (IRS Employer Identification No.)
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3811 Turtle Creek Boulevard #1100, Dallas, Texas 75219
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(Address of principal executive offices) (Zip Code)
(214) 528 - 5656
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(Registrant's telephone number, including area code)
ITEM 5. Other Events.
Pegasus Solutions' Chairman of the Board and Chief Executive Officer,
John F. Davis, III, has entered into a written trading plan in accordance with
Rule 10b5-1 under the Securities Exchange Act of 1934 pursuant to which he will
gradually liquidate a portion of his holdings of common stock of Pegasus
Solutions. The plan calls for sales of Pegasus Solutions common stock each week
during the term of the plan in differing amounts based on the prevailing market
price on the day of the week such sales are made. The market price at which any
sales can be made under the plan is greater than $15.93 per share, the closing
price of Pegasus common stock on the Nasdaq National Market on May 22, 2002. The
plan authorizes a greater number of shares to be sold in a week if the
prevailing market price increases to certain levels. The amounts sold over the
term of the plan could total up to 338,000 shares, depending on market
conditions. Selling according to this plan will commence June 15, 2002, and will
continue for three years unless sooner terminated.
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.
PEGASUS SOLUTIONS, INC.
By: /s/ Susan K. Cole
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Susan K. Cole
Executive Vice President and Chief
Financial Officer
Dated: May 23, 2002