ANTHONY FOLGER - 01 Apr 2024 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role: Chief Financial Officer
Signature: YuFan Stephanie Wang, Attorney-in-Fact
Issuer symbol: PRGS
Transactions as of: 01 Apr 2024
Net transactions value: -$159,175
Form type: 4
Filing time: 03 Apr 2024, 16:22:09 UTC
Previous filing: 02 Feb 2024
Next filing: 05 Jun 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	+1,996	+5.4%	$0.000000	39,042	01 Apr 2024	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$46,931	-886	-2.3%	$52.97	38,156	01 Apr 2024	Direct	F2
transaction	PRGS	Common Stock	Options Exercise	$0	+2,248	+5.9%	$0.000000	40,404	01 Apr 2024	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$52,811	-997	-2.5%	$52.97	39,407	01 Apr 2024	Direct	F3
transaction	PRGS	Common Stock	Options Exercise	$0	+2,529	+6.4%	$0.000000	41,936	01 Apr 2024	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$59,432	-1,122	-2.7%	$52.97	40,814	01 Apr 2024	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	-1,996	-100%	$0.000000^*	0	01 Apr 2024	Common Stock	1,996		Direct	F1, F5
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-2,248	-33%	$0.000000	4,496	01 Apr 2024	Common Stock	2,248		Direct	F1, F6
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-2,529	-20%	$0.000000	10,116	01 Apr 2024	Common Stock	2,529		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 Companys 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.