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

Role: Chief Information Officer
Signature: YuFan Stephanie Wang, Attorney-in-Fact
Issuer symbol: PRGS
Transactions as of: 01 Oct 2024
Net transactions value: -$50,778
Form type: 4
Filing time: 03 Oct 2024, 16:17:28 UTC
Previous filing: 09 Jul 2024
Next filing: 24 Oct 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	+489	+15%	$0.000000	3,656	01 Oct 2024	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$9,916	-149	-4.1%	$66.55	3,507	01 Oct 2024	Direct	F2
transaction	PRGS	Common Stock	Options Exercise	$0	+675	+19%	$0.000000	4,182	01 Oct 2024	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$13,643	-205	-4.9%	$66.55	3,977	01 Oct 2024	Direct	F3
transaction	PRGS	Common Stock	Options Exercise	$0	+681	+17%	$0.000000	4,658	01 Oct 2024	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$13,776	-207	-4.4%	$66.55	4,451	01 Oct 2024	Direct	F4
transaction	PRGS	Common Stock	Options Exercise	$0	+665	+15%	$0.000000	5,116	01 Oct 2024	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$13,443	-202	-3.9%	$66.55	4,914	01 Oct 2024	Direct	F5

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	-489	-100%	$0.000000	0	01 Oct 2024	Common Stock	489		Direct	F1, F6
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-675	-50%	$0.000000	675	01 Oct 2024	Common Stock	675		Direct	F1, F7
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-681	-25%	$0.000000	2,043	01 Oct 2024	Common Stock	681		Direct	F1, F8
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-665	-17%	$0.000000	3,330	01 Oct 2024	Common Stock	665		Direct	F1, F9

* 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 September 27, 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	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.
F6	On September 27, 2021, the Reporting Person was granted 2,931 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 April 1, 2022, subject to the continued employment of the Reporting Person with the Company.
F7	On January 20, 2022, the Reporting Person was granted 4,046 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.
F8	On January 19, 2023, the Reporting Person was granted 4,085 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.
F9	On January 18, 2024, the Reporting Person was granted 3,995 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.