Yufan Stephanie Wang - Oct 1, 2023 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role: Chief Legal Officer
Signature: YuFan Stephanie Wang
Stock symbol: PRGS
Transactions as of: Oct 1, 2023
Transactions value $: -$80,332
Form type: 4
Date filed: 10/3/2023, 04:19 PM
Previous filing: May 9, 2023
Next filing: Jan 22, 2024
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	$0	+460		$0.00	460	Oct 1, 2023	Direct	F1
transaction	PRGS	Common Stock	Tax liability	-$12K	-226	-49.13%	$53.16	234	Oct 1, 2023	Direct	F2
transaction	PRGS	Common Stock	Options Exercise	$0	+1.07K	+456.84%	$0.00	1.3K	Oct 1, 2023	Direct	F1
transaction	PRGS	Common Stock	Tax liability	-$27.9K	-525	-40.29%	$53.16	778	Oct 1, 2023	Direct	F3
transaction	PRGS	Common Stock	Sale	-$40.4K	-778	-100%	$51.94	0	Oct 3, 2023	Direct	F4

Showing 1 to 5 of 5 entries

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	Restricted Stock Units	Options Exercise	$0	-460	-20%	$0.00	1.84K	Oct 1, 2023	Common Stock	460		Direct	F1, F5
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-1.07K	-16.65%	$0.00	5.35K	Oct 1, 2023	Common Stock	1.07K		Direct	F1, F6

* 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	Restricted stock units convert into common stock on a one-for-one basis.
F2	Represents shares of common stock withheld by Progress Software Corporation (the "Company") to pay the tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on June 30, 2022.
F3	Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 19, 2023.
F4	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 7, 2023.
F5	On June 30, 2022, the Reporting Person was granted 2,760 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning April 1, 2023, subject to the continued employment of the Reporting Person with the Company.
F6	On January 19, 2023, the Reporting Person was granted 6,419 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2023, subject to the continued employment of the Reporting Person with the Company.