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

Role: Chief Financial Officer
Signature: YuFan Stephanie Wang, Attorney-in-Fact
Stock symbol: PRGS
Transactions as of: Oct 3, 2022
Transactions value $: -$128,800
Form type: 4
Date filed: 10/5/2022, 05:01 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	+2.54K	+20.02%	$0.00	15.2K	Oct 3, 2022	Direct	F1, F2
transaction	PRGS	Common Stock	Tax liability	-$48.2K	-1.13K	-7.4%	$42.81	14.1K	Oct 3, 2022	Direct	F3
transaction	PRGS	Common Stock	Options Exercise	$0	+2K	+14.14%	$0.00	16.1K	Oct 3, 2022	Direct	F1
transaction	PRGS	Common Stock	Tax liability	-$37.9K	-885	-5.5%	$42.81	15.2K	Oct 3, 2022	Direct	F4
transaction	PRGS	Common Stock	Options Exercise	$0	+2.25K	+14.77%	$0.00	17.5K	Oct 3, 2022	Direct	F1
transaction	PRGS	Common Stock	Tax liability	-$42.7K	-997	-5.71%	$42.81	16.5K	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	-2.54K	-50%	$0.00	2.54K	Oct 3, 2022	Common Stock	2.54K		Direct	F1, F6
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-2K	-24.99%	$0.00	5.99K	Oct 3, 2022	Common Stock	2K		Direct	F1, F7
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-2.25K	-16.66%	$0.00	11.2K	Oct 3, 2022	Common Stock	2.25K		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	Includes 665 shares of common stock acquired by the Reporting Person on March 31, 2022 through Progress Software Corporation's (the "Company's") Employee Stock Purchase Plan.
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 March 30, 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	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.
F6	On March 30, 2020, the Reporting Person was granted 15,243 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.
F7	On January 19, 2021, the Reporting Person was granted 11,972 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 13,487 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.