Rainer Gawlick - Jul 10, 2023 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role
Director
Signature
Anthony Folger, Attorney-in-Fact
Stock symbol
PRGS
Transactions as of
Jul 10, 2023
Transactions value $
$225,043
Form type
4
Date filed
7/12/2023, 04:58 PM
Previous filing
May 19, 2023
Next filing
May 24, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRGS Common Stock Award $225K +3.94K +9.46% $57.19 45.5K Jul 10, 2023 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents deferred stock units issued to the Reporting Person by Progress Software Corporation (the "Company") as the fiscal year 2023 equity retainer for the Reporting Person's services as a director of the Company during such period. These deferred stock units were issued in accordance with the Company's FY23 Director Compensation Plan pursuant to the Company's 2008 Stock Option and Incentive Plan and are payable on a one-for-one basis exclusively in common stock on the earlier of a change in control of the Company or the date the Reporting Person terminates service on the board of directors of the Company (the "Board of Directors"). The deferred stock units will vest on the date of the Company's 2024 Annual Meeting of Stockholders, subject to the Reporting Person's continued service on the Board of Directors until such date.