Filing Details
- Accession Number:
- 0000876167-24-000041
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2024-02-02 17:30:06
- Reporting Period:
- 2024-02-01
- Accepted Time:
- 2024-02-02 17:30:06
- 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 |
|---|---|---|---|---|---|---|---|
| 1301277 | K Yogesh Gupta | C/O Progress Software Corporation 15 Wayside Road, Suite 400 Burlington MA 01803 | Chief Executive Officer | Yes | 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 | Acquisiton | 2024-02-01 | 98,371 | $0.00 | 274,295 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2024-02-01 | 47,563 | $57.14 | 226,732 | No | 4 | F | Direct | |
| Common Stock | Disposition | 2024-02-01 | 32,128 | $56.78 | 194,604 | No | 4 | S | Direct | |
| Common Stock | Disposition | 2024-02-01 | 8,046 | $57.60 | 186,558 | No | 4 | S | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | M | Direct | |
| No | 4 | F | Direct | |
| No | 4 | S | Direct | |
| 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 | Disposition | 2024-02-01 | 98,371 | $0.00 | 98,371 | $0.00 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 0 | No | 4 | M | Direct |
Footnotes
- On January 19, 2021, the Reporting Person was granted 52,817 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, 2023, the amount shown is the amount of performance-based restricted stock units that vested under the 2019 Long Term Incentive Plan on February 1, 2024.
- 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 January 19, 2021.
- The trading activity reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 11, 2023.
- This transaction was executed in multiple trades at prices ranging from $56.30 to $57.29 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 $57.35 to $57.755 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.
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