Domenic LoCoco - Feb 1, 2024 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Signature
YuFan Stephanie Wang, Attorney-in-Fact
Stock symbol
PRGS
Transactions as of
Feb 1, 2024
Transactions value $
-$122,374
Form type
4
Date filed
2/2/2024, 05:31 PM
Previous filing
Jan 22, 2024
Next filing
Apr 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRGS Common Stock Options Exercise $170K +4.89K +168.72% $34.73 7.79K Feb 1, 2024 Direct
transaction PRGS Common Stock Sale -$279K -4.89K -62.79% $57.00 2.9K Feb 1, 2024 Direct F1
transaction PRGS Common Stock Sale -$13.4K -236 -8.14% $56.81 2.66K Feb 1, 2024 Direct F1

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 (Right to buy) Options Exercise $0 -4.89K -100% $0.00* 0 Feb 1, 2024 Common Stock 4.89K $34.73 Direct F2
* 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 The trading activity reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 9, 2023.
F2 Options were granted to the Reporting Person on January 22, 2019 under Progress Software Corporation's 2008 Stock Option and Incentive Plan. As of April 1, 2023, 6,525 options were vested and exercisable.