Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|
transaction | PRGS | Common Stock | Sale | -$141K | -2.53K | -27.33% | $55.64 | 6.72K | May 15, 2023 | Direct | F1, F2, F3 |
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).
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 February 13, 2023. |
F2 | This transaction was executed in multiple trades at prices ranging from $55.62 to $56.00 per share. The price reported represents the weighted average sale price of these trades. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price. |
F3 | Includes 337 shares of common stock acquired by the Reporting Person on March 31, 2023 through Progress Software Corporation's Employee Stock Purchase Plan. |