Ian Pitt - Jan 19, 2023 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role
Chief Information Officer
Signature
YuFan Stephanie Wang, Attorney-in-Fact
Stock symbol
PRGS
Transactions as of
Jan 19, 2023
Transactions value $
$0
Form type
4
Date filed
1/23/2023, 04:20 PM
Previous filing
Oct 5, 2022
Next filing
Feb 7, 2023

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 Award $0 +4.09K $0.00 4.09K Jan 19, 2023 Common Stock 4.09K Direct F1, F2
transaction PRGS Employee Stock Options (Right to buy) Award $0 +9.72K $0.00 9.72K Jan 19, 2023 Common Stock 9.72K $51.41 Direct F3
transaction PRGS Restricted Stock Units Award $0 +6.81K $0.00 6.81K Jan 19, 2023 Common Stock 6.81K Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of Progress Software Corporation's (the "Company's") common stock.
F2 Represents restricted stock units granted to the Reporting Person pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2023, subject to the continued employment of the Reporting Person with the Company.
F3 Represents stock options granted to the Reporting Person pursuant to the Company's 2008 Stock Option and Incentive Plan. The stock options vest in eight equal semiannual installments beginning on October 1, 2023, subject to the continued employment of the Reporting Person with the Company.
F4 Represents performance-based restricted stock units granted to the Reporting Person pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest on February 1, 2026, subject to the Company meeting total shareholder return and operating income criteria over the three-year period ending November 30, 2025, and the continued employment of the Reporting Person with the Company.