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PROGRESS SOFTWARE CORP /MA — Director's Dealing 2016
Apr 5, 2016
31754_dirs_2016-04-05_60125443-01a9-468f-b5ab-113f578b583d.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: 2016-04-01
Reporting Person: Rulli Jerry (Chief Operating Officer)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2016-04-01 | Common Stock | M | 3425 | — | Acquired | 8021 | Direct |
| 2016-04-01 | Common Stock | F | 1112 | $24.66 | Disposed | 6909 | Direct |
| 2016-04-01 | Common Stock | M | 5428 | — | Acquired | 12337 | Direct |
| 2016-04-01 | Common Stock | F | 1762 | $24.66 | Disposed | 10575 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2016-04-01 | Restricted Stock Units | $ | M | 3425 | Disposed | Common Stock (3425) | Direct | |
| 2016-04-01 | Restricted Stock Units | $ | M | 16284 | Acquired | Common Stock (16284) | Direct | |
| 2016-04-01 | Restricted Stock Units | $ | M | 5428 | Disposed | Common Stock (5428) | Direct |
Footnotes
F1: Restricted stock units convert into common stock on a one-for-one basis.
F2: Represents shares of common stock withheld by Issuer to pay tax withholding obligation of Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on September 29, 2014.
F3: Represents shares of common stock withheld by Issuer to pay tax withholding obligation of Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 29, 2015.
F4: On September 29, 2014, the Reporting Person was granted 20,551 restricted stock units, vesting in six equal semi-annual installments beginning on April 1, 2015, subject to the continued employment of the Reporting Person with Issuer.
F5: Represents performance-based restricted stock units acquired by the Reporting Person based on Issuer performance in FY15. Each restricted stock unit vests in five installments, with one-third vesting on April 1, 2016 and the remaining restricted stock units vesting in four equal semi-annual installments, subject to the continued employment of the Reporting Person with Issuer.