Domenic LoCoco - 01 Apr 2025 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role
Chief Accounting Officer
Signature
YuFan Stephanie Wang, Attorney-in-Fact
Issuer symbol
PRGS
Transactions as of
01 Apr 2025
Net transactions value
-$121,152
Form type
4
Filing time
03 Apr 2025, 16:12:25 UTC
Previous filing
04 Feb 2025
Next filing
03 Oct 2025
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 +375 +8.7% $0.000000 4,678 01 Apr 2025 Direct F1
transaction PRGS Common Stock Tax liability $6,234 -111 -2.4% $56.16 4,567 01 Apr 2025 Direct F2
transaction PRGS Common Stock Options Exercise $0 +885 +19% $0.000000 5,452 01 Apr 2025 Direct F1
transaction PRGS Common Stock Tax liability $14,602 -260 -4.8% $56.16 5,192 01 Apr 2025 Direct F3
transaction PRGS Common Stock Options Exercise $0 +807 +16% $0.000000 5,999 01 Apr 2025 Direct F1
transaction PRGS Common Stock Tax liability $13,310 -237 -4% $56.16 5,762 01 Apr 2025 Direct F4
transaction PRGS Common Stock Options Exercise $133,368 +2,828 +49% $47.16 8,590 01 Apr 2025 Direct
transaction PRGS Common Stock Options Exercise $86,370 +2,027 +24% $42.61 10,617 01 Apr 2025 Direct
transaction PRGS Common Stock Options Exercise $103,662 +2,330 +22% $44.49 12,947 01 Apr 2025 Direct
transaction PRGS Common Stock Sale $410,407 -7,185 -55% $57.12 5,762 01 Apr 2025 Direct F5, F6

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 -375 -100% $0.000000 0 01 Apr 2025 Common Stock 375 Direct F1, F7
transaction PRGS Restricted Stock Units Options Exercise $0 -885 -33% $0.000000 1,771 01 Apr 2025 Common Stock 885 Direct F1, F8
transaction PRGS Restricted Stock Units Options Exercise $0 -807 -20% $0.000000 3,228 01 Apr 2025 Common Stock 807 Direct F1, F9
transaction PRGS Employee Stock Options (Right to buy) Options Exercise $0 -2,828 -50% $0.000000 2,828 01 Apr 2025 Common Stock 2,828 $47.16 Direct F10
transaction PRGS Employee Stock Options (Right to buy) Options Exercise $0 -2,027 -50% $0.000000 2,026 01 Apr 2025 Common Stock 2,027 $42.61 Direct F11
transaction PRGS Employee Stock Options (Right to buy) Options Exercise $0 -2,330 -33% $0.000000 4,660 01 Apr 2025 Common Stock 2,330 $44.49 Direct F12
* 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 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 The trading activity reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on July 29, 2024.
F6 This transaction was executed in multiple trades at prices ranging from $57.00 to $57.26 per share. The price reported represents the weighted average sale price of these trades. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price.
F7 On January 20, 2022, the Reporting Person was granted 2,248 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 5,311 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 4,842 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.
F10 Options were granted to the Reporting Person on January 21, 2020 under the Company's 2008 Stock Option and Incentive Plan. As of April 1, 2025, 5,656 shares were vested and exercisable.
F11 Options were granted to the Reporting Person on January 19, 2021 under the Company's 2008 Stock Option and Incentive Plan. As of April 1, 2025, 4,053 shares were vested and exercisable.
F12 Options were granted to the Reporting Person on January 20, 2022 under the Company's 2008 Stock Option and Incentive Plan. As of April 1, 2025, 4,660 shares were vested and exercisable.