Ian Pitt - Apr 1, 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
Apr 1, 2023
Transactions value $
-$20,235
Form type
4
Date filed
4/4/2023, 07:08 PM
Previous filing
Feb 7, 2023
Next filing
Oct 3, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRGS Common Stock Options Exercise $0 +488 +43.11% $0.00 1.62K Apr 1, 2023 Direct F1
transaction PRGS Common Stock Tax liability -$8.52K -149 -9.2% $57.16 1.47K Apr 1, 2023 Direct F2
transaction PRGS Common Stock Options Exercise $0 +674 +45.82% $0.00 2.15K Apr 1, 2023 Direct F1
transaction PRGS Common Stock Tax liability -$11.7K -205 -9.56% $57.16 1.94K Apr 1, 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 -488 -24.96% $0.00 1.47K Apr 1, 2023 Common Stock 488 Direct F1, F4
transaction PRGS Restricted Stock Units Options Exercise $0 -674 -19.99% $0.00 2.7K Apr 1, 2023 Common Stock 674 Direct F1, F5
* 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 September 27, 2021.
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 20, 2022.
F4 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.
F5 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.