Domenic LoCoco - May 15, 2023 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role
Chief Accounting Officer
Signature
YuFan Stephanie Wang, Attorney-in-Fact
Stock symbol
PRGS
Transactions as of
May 15, 2023
Transactions value $
-$12,570
Form type
4
Date filed
5/17/2023, 04:09 PM
Previous filing
Apr 4, 2023
Next filing
Aug 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRGS Common Stock Sale -$12.6K -226 -10.13% $55.62 2.01K May 15, 2023 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The trading activity reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on July 8, 2022.
F2 Includes 278 shares of common stock acquired by the Reporting Person on March 31, 2023 through Progress Software Corporation's Employee Stock Purchase Plan.