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

Role: EVP, Corporate Development
Signature: YuFan Stephanie Wang, Attorney-in-Fact
Stock symbol: PRGS
Transactions as of: Oct 3, 2022
Transactions value $: -$117,321
Form type: 4
Date filed: 10/5/2022, 05:00 PM
Previous filing: Apr 5, 2022
Next filing: Jan 23, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PRGS	Common Stock	Options Exercise	$0	+1.28K		$0.00	1.28K	Oct 3, 2022	Direct	F1
transaction	PRGS	Common Stock	Tax liability	-$23.8K	-557	-43.38%	$42.81	727	Oct 3, 2022	Direct	F2
transaction	PRGS	Common Stock	Options Exercise	$0	+939	+129.16%	$0.00	1.67K	Oct 3, 2022	Direct	F1
transaction	PRGS	Common Stock	Tax liability	-$17.5K	-408	-24.49%	$42.81	1.26K	Oct 3, 2022	Direct	F3
transaction	PRGS	Common Stock	Options Exercise	$0	+1.12K	+89.35%	$0.00	2.38K	Oct 3, 2022	Direct	F1
transaction	PRGS	Common Stock	Tax liability	-$20.9K	-488	-20.49%	$42.81	1.89K	Oct 3, 2022	Direct	F4
transaction	PRGS	Common Stock	Sale	-$55.1K	-1.26K	-66.42%	$43.82	636	Oct 3, 2022	Direct	F5

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	-1.28K	-33.32%	$0.00	2.57K	Oct 3, 2022	Common Stock	1.28K		Direct	F1, F6
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-939	-25%	$0.00	2.82K	Oct 3, 2022	Common Stock	939		Direct	F1, F7
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, F8

* 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 June 29, 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	This trade was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 17, 2021.
F6	On June 29, 2020, the Reporting Person was granted 7,705 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 April 1, 2021, subject to the continued employment of the Reporting Person with the Company.
F7	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.
F8	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.