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PROGRESS SOFTWARE CORP /MA — Director's Dealing 2016
Oct 20, 2016
31754_dirs_2016-10-20_a17025dc-df78-4f7b-b02e-7b69a3ce8da4.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2016-10-19
Reporting Person: Gupta Yogesh K (Chief Executive Officer)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2016-10-19 | Restricted Stock Units | $ | M | 13722 | Acquired | Common Stock (13722) | Direct | |
| 2016-10-19 | Restricted Stock Units | $ | M | 91475 | Acquired | Common Stock (91475) | Direct | |
| 2016-10-19 | Restricted Stock Units | $ | M | 42079 | Acquired | Common Stock (42079) | Direct |
Footnotes
F1: Restricted stock units convert into common stock on a one-for-one basis.
F2: Represents restricted stock units acquired by the Reporting Person as part of New Hire Grant pursuant to the Company's 2008 Stock Option and Incentive Plan. Each restricted stock unit represents a contingent right to receive one share of common stock. The restricted stock units vest in six equal semi-annual installments beginning on October 1, 2017, subject to the continued employment of the Reporting Person with Issuer.
F3: Represents restricted stock units acquired by the Reporting Person as part of New Hire Grant pursuant to the Company's 2008 Stock Option and Incentive Plan. Each restricted stock unit represents a contingent right to receive one share of common stock. The restricted stock units vest in three installments, with one-fourth vesting on October 10, 2017, one-fourth vesting on October 10, 2018, and the remaining restricted stock units vesting on October 10, 2019, subject to the continued employment of the Reporting Person with Issuer on each vesting date.
F4: Represents performance-based restricted stock units acquired by the Reporting Person as part of New Hire Grant pursuant to the Company's 2008 Stock Option and Incentive Plan. Each restricted stock unit represents a contingent right to receive one share of common stock. The performance-based restricted stock units vest based on Issuer's total shareholder return over a three-year period, as will be determined at the first meeting of the Issuer's compensation committee following November 30, 2018.