Kathryn Kulikoski - 31 Jul 2023 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role
Chief People Officer
Signature
YuFan Stephanie Wang, Attorney-in-Fact
Issuer symbol
PRGS
Transactions as of
31 Jul 2023
Net transactions value
-$38,917
Form type
4
Filing time
02 Aug 2023, 17:43:55 UTC
Previous filing
06 Jul 2023
Next filing
06 Sep 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRGS Common Stock Options Exercise $50,037 +1,061 +20% $47.16 6,399 31 Jul 2023 Direct F1
transaction PRGS Common Stock Sale $63,660 -1,061 -17% $60.00 5,338 31 Jul 2023 Direct F2
transaction PRGS Common Stock Options Exercise $63,361 +1,487 +28% $42.61 6,825 01 Aug 2023 Direct
transaction PRGS Common Stock Sale $88,655 -1,487 -22% $59.62 5,338 01 Aug 2023 Direct F2

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 Employee Stock Options Options Exercise $0 -1,061 -17% $0.000000 5,300 31 Jul 2023 Common Stock 1,061 $47.16 Direct F3
transaction PRGS Employee Stock Options Options Exercise $0 -1,487 -13% $0.000000 10,405 01 Aug 2023 Common Stock 1,487 $42.61 Direct F4
* 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 Includes 122 shares of common stock acquired by the Reporting Person on June 30, 2023 through Progress Software Corporation's (the "Company's") Employee Stock Purchase Plan.
F2 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.
F3 Options were granted to the Reporting Person on January 21, 2020 under the Company's 2008 Stock Option and Incentive Plan. As of April 1, 2023, 6,363 options were vested and exercisable.
F4 Options were granted to the Reporting Person on January 19, 2021 under the Company's 2008 Stock Option and Incentive Plan. As of April 1, 2023, 5,948 options were vested and exercisable.