Sundar Subramanian - Apr 1, 2023 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role
EVP/GM Infrastructure Mgmt
Signature
YuFan Stephanie Wang, Attorney-in-Fact
Stock symbol
PRGS
Transactions as of
Apr 1, 2023
Transactions value $
-$73,508
Form type
4
Date filed
4/4/2023, 07:14 PM
Previous filing
Feb 9, 2023
Next filing
May 30, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRGS Common Stock Options Exercise $0 +637 +2.73% $0.00 23.9K Apr 1, 2023 Direct F1
transaction PRGS Common Stock Tax liability -$18.1K -317 -1.32% $57.16 23.6K Apr 1, 2023 Direct F2
transaction PRGS Common Stock Options Exercise $0 +939 +3.98% $0.00 24.6K Apr 1, 2023 Direct F1
transaction PRGS Common Stock Tax liability -$26.7K -467 -1.9% $57.16 24.1K Apr 1, 2023 Direct F3
transaction PRGS Common Stock Options Exercise $0 +1.12K +4.67% $0.00 25.2K Apr 1, 2023 Direct F1
transaction PRGS Common Stock Tax liability -$28.7K -502 -1.99% $57.16 24.7K Apr 1, 2023 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 -637 -100% $0.00* 0 Apr 1, 2023 Common Stock 637 Direct F1, F5
transaction PRGS Restricted Stock Units Options Exercise $0 -939 -33.33% $0.00 1.88K Apr 1, 2023 Common Stock 939 Direct F1, F6
transaction PRGS Restricted Stock Units Options Exercise $0 -1.12K -20% $0.00 4.5K Apr 1, 2023 Common Stock 1.12K Direct F1, F7
* 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 January 21, 2020.
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 19, 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 January 21, 2020, the Reporting Person was granted 3,817 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.
F6 On January 19, 2021, the Reporting Person was granted 5,634 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.
F7 On January 20, 2022, the Reporting Person was granted 6,744 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.