Anthony Folger - Oct 1, 2023 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role: Chief Financial Officer
Signature: YuFan Stephanie Wang, Attorney-in-Fact
Stock symbol: PRGS
Transactions as of: Oct 1, 2023
Transactions value $: -$159,746
Form type: 4
Date filed: 10/3/2023, 04:23 PM
Previous filing: Aug 22, 2023
Next filing: Jan 22, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PRGS	Common Stock	Options Exercise	$0	+2K	+9.93%	$0.00	22.1K	Oct 1, 2023	Direct	F1
transaction	PRGS	Common Stock	Tax liability	-$47.1K	-886	-4.01%	$53.16	21.2K	Oct 1, 2023	Direct	F2
transaction	PRGS	Common Stock	Options Exercise	$0	+2.25K	+10.6%	$0.00	23.5K	Oct 1, 2023	Direct	F1
transaction	PRGS	Common Stock	Tax liability	-$53K	-997	-4.25%	$53.16	22.5K	Oct 1, 2023	Direct	F3
transaction	PRGS	Common Stock	Options Exercise	$0	+2.53K	+11.26%	$0.00	25K	Oct 1, 2023	Direct	F1
transaction	PRGS	Common Stock	Tax liability	-$59.6K	-1.12K	-4.49%	$53.16	23.9K	Oct 1, 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	-2K	-50%	$0.00	2K	Oct 1, 2023	Common Stock	2K		Direct	F1, F5
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-2.25K	-25%	$0.00	6.74K	Oct 1, 2023	Common Stock	2.25K		Direct	F1, F6
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-2.53K	-16.66%	$0.00	12.6K	Oct 1, 2023	Common Stock	2.53K		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 11,972 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 13,487 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 15,173 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.