Anthony Folger - Oct 1, 2021 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role: Chief Financial Officer
Signature: Stephen H. Faberman, Attorney-in-Fact
Stock symbol: PRGS
Transactions as of: Oct 1, 2021
Transactions value $: -$97,696
Form type: 4
Date filed: 10/5/2021, 05:17 PM
Next filing: Jan 24, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PRGS	Common Stock	Options Exercise	$0	+2.54K	+36.87%	$0.00	9.43K	Oct 1, 2021	Direct	F1, F2
transaction	PRGS	Common Stock	Tax liability	-$54.7K	-1.1K	-11.69%	$49.67	8.33K	Oct 1, 2021	Direct	F3
transaction	PRGS	Common Stock	Options Exercise	$0	+2K	+23.96%	$0.00	10.3K	Oct 1, 2021	Direct	F1
transaction	PRGS	Common Stock	Tax liability	-$43K	-865	-8.38%	$49.67	9.46K	Oct 1, 2021	Direct	F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-2.54K	-24.99%	$0.00	7.62K	Oct 1, 2021	Common Stock	2.54K		Direct	F1, F5
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-2K	-16.66%	$0.00	9.98K	Oct 1, 2021	Common Stock	2K		Direct	F1, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Restricted stock units convert into common stock on a one-for-one basis.
F2	Includes 665 shares of common stock acquired by the Reporting Person through Progress Software Corporation's (the "Company's") Employee Stock Purchase Plan on March 31, 2021.
F3	Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on March 30, 2020.
F4	Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 19, 2021.
F5	On March 30, 2020, the Reporting Person was granted 15,243 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2020, subject to the continued employment of the Reporting Person with the Company.
F6	On January 19, 2021, the Reporting Person was granted 11,972 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2021, subject to the continued employment of the Reporting Person with the Company.