Loren Jarrett - Oct 3, 2022 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role
EVP & GM Developer Tools
Signature
YuFan Stephanie Wang, Attorney-in-Fact
Stock symbol
PRGS
Transactions as of
Oct 3, 2022
Transactions value $
-$53,335
Form type
4
Date filed
10/5/2022, 04:57 PM
Previous filing
Aug 8, 2022
Next filing
Nov 8, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRGS Common Stock Options Exercise $0 +742 +4.1% $0.00 18.9K Oct 3, 2022 Direct F1
transaction PRGS Common Stock Tax liability -$14.1K -330 -1.75% $42.81 18.5K Oct 3, 2022 Direct F2
transaction PRGS Common Stock Options Exercise $0 +939 +5.07% $0.00 19.5K Oct 3, 2022 Direct F1
transaction PRGS Common Stock Tax liability -$17.8K -417 -2.14% $42.81 19K Oct 3, 2022 Direct F3
transaction PRGS Common Stock Options Exercise $0 +1.12K +5.9% $0.00 20.2K Oct 3, 2022 Direct F1
transaction PRGS Common Stock Tax liability -$21.4K -499 -2.47% $42.81 19.7K Oct 3, 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 -742 -49.97% $0.00 743 Oct 3, 2022 Common Stock 742 Direct F1, F5
transaction PRGS Restricted Stock Units Options Exercise $0 -939 -25% $0.00 2.82K Oct 3, 2022 Common Stock 939 Direct F1, F6
transaction PRGS Restricted Stock Units Options Exercise $0 -1.12K -16.67% $0.00 5.62K Oct 3, 2022 Common Stock 1.12K 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 21, 2020.
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 19, 2021.
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 20, 2022.
F5 On January 21, 2020, the Reporting Person was granted 4,453 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 5,634 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.
F7 On January 20, 2022, the Reporting Person was granted 6,744 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, 2022, subject to the continued employment of the Reporting Person with the Company.