Sundar Subramanian - 01 Oct 2024 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role: EVP/GM Infrastructure Mgmt
Signature: YuFan Stephanie Wang, Attorney-in-Fact
Issuer symbol: PRGS
Transactions as of: 01 Oct 2024
Net transactions value: -$102,154
Form type: 4
Filing time: 03 Oct 2024, 16:16:24 UTC
Previous filing: 02 May 2024
Next filing: 05 Nov 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	+1,124	+6.5%	$0.000000	18,319	01 Oct 2024	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$33,208	-499	-2.7%	$66.55	17,820	01 Oct 2024	Direct	F2
transaction	PRGS	Common Stock	Options Exercise	$0	+1,167	+6.5%	$0.000000	18,987	01 Oct 2024	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$34,473	-518	-2.7%	$66.55	18,469	01 Oct 2024	Direct	F3
transaction	PRGS	Common Stock	Options Exercise	$0	+1,167	+6.3%	$0.000000	19,636	01 Oct 2024	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$34,473	-518	-2.6%	$66.55	19,118	01 Oct 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	-1,124	-50%	$0.000000	1,124	01 Oct 2024	Common Stock	1,124		Direct	F1, F5
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-1,167	-25%	$0.000000	3,502	01 Oct 2024	Common Stock	1,167		Direct	F1, F6
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-1,167	-17%	$0.000000	5,837	01 Oct 2024	Common Stock	1,167		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 20, 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	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 18, 2024.
F5	On January 20, 2022, the Reporting Person was granted 6,744 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.
F6	On January 19, 2023, the Reporting Person was granted 7,003 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.
F7	On January 18, 2024, the Reporting Person was granted 7,004 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, 2024, subject to the continued employment of the Reporting Person with the Company.