Kathryn Kulikoski - 01 Apr 2022 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role: Chief People Officer
Signature: Anthony Folger, Attorney-in-Fact
Issuer symbol: PRGS
Transactions as of: 01 Apr 2022
Net transactions value: -$21,828
Form type: 4
Filing time: 05 Apr 2022, 17:23:09 UTC
Previous filing: 24 Jan 2022
Next filing: 05 Oct 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PRGS	Common Stock	Options Exercise	$0	+477	+22%	$0.000000	2,662	01 Apr 2022	Direct	F1, F2
transaction	PRGS	Common Stock	Tax liability	$9,294	-198	-7.4%	$46.94	2,464	01 Apr 2022	Direct	F3
transaction	PRGS	Common Stock	Options Exercise	$0	+645	+26%	$0.000000	3,109	01 Apr 2022	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$12,533	-267	-8.6%	$46.94	2,842	01 Apr 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	-477	-33%	$0.000000	955	01 Apr 2022	Common Stock	477		Direct	F1, F5
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-645	-20%	$0.000000	2,584	01 Apr 2022	Common Stock	645		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 213 shares of common stock acquired by the Reporting Person through Progress Software Corporation's (the "Company's") Employee Stock Purchase Plan: 137 shares on September 30, 2021 and 76 shares on December 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 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 21, 2020, the Reporting Person was granted 2,863 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 3,874 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.