Vivian M. Vitale - Jun 28, 2021 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role
Director
Signature
Stephen H. Faberman, Attorney-in-Fact
Stock symbol
PRGS
Transactions as of
Jun 28, 2021
Transactions value $
$225,033
Form type
4
Date filed
6/30/2021, 04:10 PM
Next filing
Sep 13, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRGS Common Stock Award $225K +4.83K +58.08% $46.61 13.1K Jun 28, 2021 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents deferred stock units issued to the Reporting Person by Progress Software Corporation (the "Company") as the fiscal year 2021 equity retainer for the Reporting Person's services as a director of the Company during such period. These deferred stock units were issued in accordance with the Company's FY21 Director Compensation Plan pursuant to the Company's 2008 Stock Option and Incentive Plan and are payable on a one-for-one basis exclusively in common stock on the earlier of a change in control of the Company or the date the Reporting Person terminates service on the board of directors of the Company (the "Board of Directors"). The deferred stock units will vest on the date of the Company's 2022 Annual Meeting of Stockholders, subject to the Reporting Person's continued service on the Board of Directors until such date.