Form 4 for PRGS PROGRESS SOFTWARE CORP /MA
Accepted 2023-01-23 00:00:00 ET · period of report 2023-01-09 · accession 0000876167-23-000032 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2023-01-23 | 2023-01-09 | PRGS | FOLGER ANTHONY | CFO | S - Sale | $52.35 | -11.9K | 4,603 | -72% | -$621.0K |
| DM | 2023-01-23 | 2023-01-19 | PRGS | FOLGER ANTHONY | CFO | A - Grant | $0.00 | +76.5K | 36.1K | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2023-01-09 | S | D | 11,863 | $52.35 | 4,603 | D | — | — | (F2) 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. |
| 2 | Derivative | Restricted Stock Units | 2023-01-19 | A | A | 15,173 | $0.00 | 15,173 | D | — · — to — | 15,173 Common Stock | (F3) Each restricted stock unit represents a contingent right to receive one share of Progress Software Corporation's (the "Company's") common stock. (F4) 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. |
| 3 | Derivative | Restricted Stock Units | 2023-01-19 | A | A | 25,287 | $0.00 | 25,287 | D | — · — to — | 25,287 Common Stock | (F3) Each restricted stock unit represents a contingent right to receive one share of Progress Software Corporation's (the "Company's") common stock. (F6) 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. |
| 4 | Derivative | Employee Stock Options (Right to buy) | 2023-01-19 | A | A | 36,087 | $0.00 | 36,087 | D | $51.41 · — to 2030-01-18 | 36,087 Common Stock | (F5) 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. |