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
  1. 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.
  2. Restricted stock units convert into common stock on a one-for-one basis.
  3. 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.
  4. 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.
  5. 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.
  6. 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.