Domenic LoCoco - Apr 1, 2022 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role: Chief Accounting Officer
Signature: Anthony Folger, Attorney-in-Fact
Stock symbol: PRGS
Transactions as of: Apr 1, 2022
Transactions value $: -$13,941
Form type: 4
Date filed: 4/5/2022, 05:22 PM
Previous filing: Jan 24, 2022
Next filing: May 9, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PRGS	Common Stock	Options Exercise	$0	+228	+14.41%	$0.00	1.81K	Apr 1, 2022	Direct	F1
transaction	PRGS	Common Stock	Tax liability	-$4.32K	-92	-5.08%	$46.94	1.72K	Apr 1, 2022	Direct	F2
transaction	PRGS	Common Stock	Options Exercise	$0	+212	+12.34%	$0.00	1.93K	Apr 1, 2022	Direct	F1
transaction	PRGS	Common Stock	Tax liability	-$4.04K	-86	-4.46%	$46.94	1.84K	Apr 1, 2022	Direct	F3
transaction	PRGS	Common Stock	Options Exercise	$0	+293	+15.89%	$0.00	2.14K	Apr 1, 2022	Direct	F1
transaction	PRGS	Common Stock	Tax liability	-$5.59K	-119	-5.57%	$46.94	2.02K	Apr 1, 2022	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	-228	-100%	$0.00^*	0	Apr 1, 2022	Common Stock	228		Direct	F1, F5
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-212	-33.28%	$0.00	425	Apr 1, 2022	Common Stock	212		Direct	F1, F6
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-293	-19.96%	$0.00	1.18K	Apr 1, 2022	Common Stock	293		Direct	F1, F7

* 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	Represents shares of common stock withheld by Progress Software Corporation (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 22, 2019.
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 January 21, 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 January 22, 2019, the Reporting Person was granted 1,368 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, 2019, subject to the continued employment of the Reporting Person with the Company.
F6	On January 21, 2020, the Reporting Person was granted 1,273 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.
F7	On January 19, 2021, the Reporting Person was granted 1,761 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.