Domenic LoCoco - 01 Oct 2023 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role: Chief Accounting Officer
Signature: YuFan Stephanie Wang, Attorney-in-Fact
Issuer symbol: PRGS
Transactions as of: 01 Oct 2023
Net transactions value: -$24,347
Form type: 4
Filing time: 03 Oct 2023, 16:21:18 UTC
Previous filing: 17 Aug 2023
Next filing: 09 Nov 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	$0	+294	+15%	$0.000000	2,203	01 Oct 2023	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$4,625	-87	-3.9%	$53.16	2,116	01 Oct 2023	Direct	F2
transaction	PRGS	Common Stock	Options Exercise	$0	+375	+18%	$0.000000	2,491	01 Oct 2023	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$5,901	-111	-4.5%	$53.16	2,380	01 Oct 2023	Direct	F3
transaction	PRGS	Common Stock	Options Exercise	$0	+885	+37%	$0.000000	3,265	01 Oct 2023	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$13,822	-260	-8%	$53.16	3,005	01 Oct 2023	Direct	F4

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	-294	-50%	$0.000000	294	01 Oct 2023	Common Stock	294		Direct	F1, F5
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-375	-25%	$0.000000	1,125	01 Oct 2023	Common Stock	375		Direct	F1, F6
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-885	-17%	$0.000000	4,426	01 Oct 2023	Common Stock	885		Direct	F1, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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 January 19, 2021.
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 20, 2022.
F4	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.
F5	On January 19, 2021, the Reporting Person was granted 1,761 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, 2021, subject to the continued employment of the Reporting Person with the Company.
F6	On January 20, 2022, the Reporting Person was granted 2,248 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, 2022, subject to the continued employment of the Reporting Person with the Company.
F7	On January 19, 2023, the Reporting Person was granted 5,311 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.