Ian Pitt - 01 Apr 2025 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 Apr 2025
Net transactions value: -$34,538
Form type: 4
Filing time: 03 Apr 2025, 16:12:33 UTC
Previous filing: 04 Feb 2025
Next filing: 08 Apr 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	+675	+8.9%	$0.000000	8,288	01 Apr 2025	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$11,513	-205	-2.5%	$56.16	8,083	01 Apr 2025	Direct	F2
transaction	PRGS	Common Stock	Options Exercise	$0	+681	+8.4%	$0.000000	8,764	01 Apr 2025	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$11,625	-207	-2.4%	$56.16	8,557	01 Apr 2025	Direct	F3
transaction	PRGS	Common Stock	Options Exercise	$0	+666	+7.8%	$0.000000	9,223	01 Apr 2025	Direct	F1
transaction	PRGS	Common Stock	Tax liability	$11,400	-203	-2.2%	$56.16	9,020	01 Apr 2025	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	-675	-100%	$0.000000	0	01 Apr 2025	Common Stock	675		Direct	F1, F5
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-681	-33%	$0.000000	1,362	01 Apr 2025	Common Stock	681		Direct	F1, F6
transaction	PRGS	Restricted Stock Units	Options Exercise	$0	-666	-20%	$0.000000	2,664	01 Apr 2025	Common Stock	666		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 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.
F6	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.
F7	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.