Vivian M. Vitale - Jun 30, 2022 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role: Director
Signature: Anthony Folger, Attorney-in-Fact
Stock symbol: PRGS
Transactions as of: Jun 30, 2022
Transactions value $: $225,005
Form type: 4
Date filed: 7/5/2022, 04:47 PM
Previous filing: Sep 13, 2021
Next filing: Aug 29, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PRGS	Common Stock	Award	$225K	+4.97K	+37.8%	$45.30	18.1K	Jun 30, 2022	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 2022 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 FY22 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 2023 Annual Meeting of Stockholders, subject to the Reporting Person's continued service on the Board of Directors until such date.

Content

Represents deferred stock units issued to the Reporting Person by Progress Software Corporation (the "Company") as the fiscal year 2022 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 FY22 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 2023 Annual Meeting of Stockholders, subject to the Reporting Person's continued service on the Board of Directors until such date.