Filing Details
- Accession Number:
- 0000876167-23-000032
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2023-01-23 17:22:16
- Reporting Period:
- 2023-01-09
- Accepted Time:
- 2023-01-23 17:22:16
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 876167 | Progress Software Corp | PRGS | Services-Prepackaged Software (7372) | 042746201 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1566737 | Anthony Folger | C/O Progress Software Corporation 15 Wayside Road, Suite 400 Burlington MA 01803 | Chief Financial Officer | No | Yes | No | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock | Disposition | 2023-01-09 | 11,863 | $52.35 | 4,603 | No | 4 | S | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | S | Direct |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Common Stock | Restricted Stock Units | Acquisiton | 2023-01-19 | 15,173 | $0.00 | 15,173 | $0.00 |
| Common Stock | Employee Stock Options (Right to buy) | Acquisiton | 2023-01-19 | 36,087 | $0.00 | 36,087 | $51.41 |
| Common Stock | Restricted Stock Units | Acquisiton | 2023-01-19 | 25,287 | $0.00 | 25,287 | $0.00 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 15,173 | No | 4 | A | Direct | ||
| 36,087 | 2030-01-18 | No | 4 | A | Direct | |
| 25,287 | No | 4 | A | Direct |
Footnotes
- The trading activity reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on October 11, 2022.
- This transaction was executed in multiple trades at prices ranging from $51.85 to $52.67 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.
- Each restricted stock unit represents a contingent right to receive one share of Progress Software Corporation's (the "Company's") common stock.
- Represents restricted stock units granted to the Reporting Person 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.
- Represents stock options granted to the Reporting Person pursuant to the Company's 2008 Stock Option and Incentive Plan. The stock options vest in eight equal semiannual installments beginning on October 1, 2023, subject to the continued employment of the Reporting Person with the Company.
- Represents performance-based restricted stock units granted to the Reporting Person pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest on February 1, 2026, subject to the Company meeting total shareholder return and operating income criteria over the three-year period ending November 30, 2025, and the continued employment of the Reporting Person with the Company.
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