John Ainsworth - 01 Feb 2023 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role
EVP/GM App & Data Platform
Signature
YuFan Stephanie Wang, Attorney-in-Fact
Issuer symbol
PRGS
Transactions as of
01 Feb 2023
Net transactions value
-$282,807
Form type
4
Filing time
03 Feb 2023, 15:43:31 UTC
Previous filing
23 Jan 2023
Next filing
04 Apr 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 +11,819 +34% $0.000000 46,199 01 Feb 2023 Direct F1, F2
transaction PRGS Common Stock Tax liability $282,807 -5,243 -11% $53.94 40,956 01 Feb 2023 Direct F3

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 -11,819 -100% $0.000000* 0 01 Feb 2023 Common Stock 11,819 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On January 21, 2020, the Reporting Person was granted 7,422 performance-based restricted stock units pursuant to Progress Software Corporation's (the "Company's") 2008 Stock Option and Incentive Plan and 2019 Long Term Incentive Plan. Based on the Company meeting relative total shareholder return and cumulative operating income criteria over the three-year period ending November 30, 2022, the amount shown is the amount of performance-based restricted stock units that vested under the 2019 Long Term Incentive Plan on February 1, 2023.
F2 Restricted stock units convert into common stock on a one-for-one basis.
F3 Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of performance-based restricted stock units granted to the Reporting Person on January 21, 2020.