Yogesh K. Gupta - Oct 15, 2024 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role: Chief Executive Officer, Director
Signature: YuFan Stephanie Wang, Attorney-in-Fact
Stock symbol: PRGS
Transactions as of: Oct 15, 2024
Transactions value $: -$536,338
Form type: 4
Date filed: 10/17/2024, 04:55 PM
Previous filing: Oct 3, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PRGS	Common Stock	Options Exercise	$3.51M	+69.2K	+46.68%	$50.69	217K	Oct 15, 2024	Direct	F1
transaction	PRGS	Common Stock	Tax liability	-$4.04M	-60.6K	-27.87%	$66.72	157K	Oct 15, 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	Options Exercise	$0	-69.2K	-100%	$0.00	0	Oct 15, 2024	Common Stock	69.2K	$50.69	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This Form 4 is being filed to report the exercise of stock options for a total of 69,195 shares, of which: (i) 52,571 shares owned by the Reporting Person were exchanged to cover the cost of the option exercise and (ii) 8,038 shares owned by the Reporting Person were withheld by Progress Software Corporation (the "Company") to pay the tax withholding obligations of the Reporting Person upon exercise of the stock options. As a result of this exercise, the Reporting Person acquired ownership of 8,586 shares of common stock.
F2	Options were granted to the Reporting Person on January 12, 2018 under the Company's 2008 Stock Option and Incentive Plan. As of April 1, 2022, 69,195 options were vested and exercisable.

Content

This Form 4 is being filed to report the exercise of stock options for a total of 69,195 shares, of which: (i) 52,571 shares owned by the Reporting Person were exchanged to cover the cost of the option exercise and (ii) 8,038 shares owned by the Reporting Person were withheld by Progress Software Corporation (the "Company") to pay the tax withholding obligations of the Reporting Person upon exercise of the stock options. As a result of this exercise, the Reporting Person acquired ownership of 8,586 shares of common stock.

Options were granted to the Reporting Person on January 12, 2018 under the Company's 2008 Stock Option and Incentive Plan. As of April 1, 2022, 69,195 options were vested and exercisable.