Ian Pitt - 03 Oct 2022 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role: Chief Information Officer
Signature: YuFan Stephanie Wang, Attorney-in-Fact
Issuer symbol: PRGS
Transactions as of: 03 Oct 2022
Net transactions value: -$16,608
Form type: 4
Filing time: 05 Oct 2022, 17:00:46 UTC
Previous filing: 05 Apr 2022
Next filing: 23 Jan 2023
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	+488	+56%	$0.000000	1,364	03 Oct 2022	Direct	F1, F2
transaction	PRGS	Common Stock	Tax liability	$6,977	-163	-12%	$42.80	1,201	03 Oct 2022	Direct	F3
transaction	PRGS	Common Stock	Options Exercise	$0	+674	+56%	$0.000000	1,875	03 Oct 2022	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$9,631	-225	-12%	$42.80	1,650	03 Oct 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	-488	-20%	$0.000000	1,955	03 Oct 2022	Common Stock	488		Direct	F1, F5
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-674	-17%	$0.000000	3,372	03 Oct 2022	Common Stock	674		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 518 shares of common stock acquired by the Reporting Person through Progress Software Corporation's (the "Company's") Employee Stock Purchase Plan: 431 shares on March 31, 2022 and 87 shares on June 30, 2022.
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 September 27, 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 September 27, 2021, the Reporting Person was granted 2,931 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, 2022, subject to the continued employment of the Reporting Person with the Company.
F6	On January 20, 2022, the Reporting Person was granted 4,046 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.