Home > Insider Trading > Filing (0000876167-23-000044)

Filing Details

Accession Number:: 0000876167-23-000044
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2023-02-03 16:58:32
Reporting Period:: 2023-02-01

Accepted Time:: 2023-02-03 16:58:32
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

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2023-02-01	65,003	$0.00	151,332	No	4	M	Direct
Common Stock	Disposition	2023-02-01	31,430	$53.94	119,902	No	4	F	Direct
Common Stock	Disposition	2023-02-01	8,968	$55.00	11,032	No	4	S	Indirect	By Irrevocable Trust
Common Stock	Disposition	2023-02-02	11,032	$55.91	0	No	4	S	Indirect	By Irrevocable Trust

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	M	Direct
No	4	F	Direct
No	4	S	Indirect	By Irrevocable Trust
No	4	S	Indirect	By Irrevocable Trust

Reported Derivative Transactions

Show Other Fields >>

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Restricted Stock Units	Disposition	2023-02-01	65,003	$0.00	65,003	$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 21, 2020, the Reporting Person was granted 40,819 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 January 21, 2020.
This trade was effected pursuant to a Rule 10b5-1 trading plan adopted on November 15, 2021 by an irrevocable trust for the benefit of the Reporting Person's spouse (who is also trustee of the trust) and children.
This transaction was executed in multiple trades at prices ranging from $55.0000 to $55.0500 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.
These shares are held in a trust for the benefit of the Reporting Person's spouse and children. The Reporting Person's spouse is trustee of the trust. The Reporting Person disclaims beneficial ownership of these securities, and the inclusion of these securities in this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
This transaction was executed in multiple trades at prices ranging from $55.0000 to $56.0350 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.