Samskriti King - 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, 05:08 PM
Previous filing: Dec 15, 2022
Next filing: Sep 14, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PRGS	Common Stock	Award	$225K	+3.94K	+11.92%	$57.19	36.9K	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.

Content

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.