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Filing Details

Accession Number:: 0000876167-23-000050
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2023-02-03 17:19:06
Reporting Period:: 2023-02-01

Accepted Time:: 2023-02-03 17:19:06
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
1813585	Jeremy Segal	C/O Progress Software Corporation 15 Wayside Road, Suite 400 Burlington MA 01803	Evp, Corporate Development	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2023-02-01	20,448	$0.00	21,084	No	4	M	Direct
Common Stock	Disposition	2023-02-01	8,771	$53.94	12,313	No	4	F	Direct
Common Stock	Acquisiton	2023-02-01	11,820	$38.94	24,133	No	4	M	Direct
Common Stock	Disposition	2023-02-01	11,820	$53.44	12,313	No	4	S	Direct
Common Stock	Disposition	2023-02-02	11,677	$55.95	636	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	F	Direct
No	4	M	Direct
No	4	S	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Restricted Stock Units	Disposition	2023-02-01	20,448	$0.00	20,448	$0.00
Common Stock	Employee Stock Options	Disposition	2023-02-01	11,820	$0.00	11,820	$38.94

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0			No	4	M	Direct
11,821		2027-06-28	No	4	M	Direct

Footnotes

On June 29, 2020, the Reporting Person was granted 12,841 performance-based restricted stock units pursuant to Progress Software Corporation's (the "Company's") 2008 Stock Option and Incentive Plan and 2019 Long Term Incentive Plan. Based on the Company meeting relative total shareholder return and cumulative operating income criteria over the three-year period ending November 30, 2022, the amount shown is the amount of performance-based restricted stock units that vested under the 2019 Long Term Incentive Plan on February 1, 2023.
Restricted stock units convert into common stock on a one-for-one basis.
Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of performance-based restricted stock units granted to the Reporting Person on June 29, 2020.
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 25, 2022.
This transaction was executed in multiple trades at prices ranging from $52.99 to $53.60 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.
This transaction was executed in multiple trades at prices ranging from $54.950 to $56.400 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.
Options were granted to the Reporting Person on June 29, 2020 under the Company's 2008 Stock Option and Incentive Plan. As of February 1, 2023, 11,820 options were vested and exercisable.