| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | PRGS | Common Stock | Options Exercise | $0 | +20.4K | +3215.09% | $0.00 | 21.1K | Feb 1, 2023 | Direct | F1, F2 |
| transaction | PRGS | Common Stock | Tax liability | -$473K | -8.77K | -41.6% | $53.94 | 12.3K | Feb 1, 2023 | Direct | F3 |
| transaction | PRGS | Common Stock | Options Exercise | $460K | +11.8K | +96% | $38.94 | 24.1K | Feb 1, 2023 | Direct | |
| transaction | PRGS | Common Stock | Sale | -$632K | -11.8K | -48.98% | $53.44 | 12.3K | Feb 1, 2023 | Direct | F4, F5 |
| transaction | PRGS | Common Stock | Sale | -$653K | -11.7K | -94.83% | $55.95 | 636 | Feb 2, 2023 | Direct | F4, F6 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | PRGS | Restricted Stock Units | Options Exercise | $0 | -20.4K | -100% | $0.00* | 0 | Feb 1, 2023 | Common Stock | 20.4K | Direct | F1, F2 | |
| transaction | PRGS | Employee Stock Options | Options Exercise | $0 | -11.8K | -50% | $0.00 | 11.8K | Feb 1, 2023 | Common Stock | 11.8K | $38.94 | Direct | F7 |
| Id | Content |
|---|---|
| F1 | 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. |
| F2 | Restricted stock units convert into common stock on a one-for-one basis. |
| F3 | 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. |
| F4 | 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. |
| F5 | 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. |
| F6 | 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. |
| F7 | 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. |