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PROGRESS SOFTWARE CORP /MA — Director's Dealing 2017
Mar 7, 2017
31754_dirs_2017-03-07_e19bebba-2a1d-45d2-802a-4687a64dd168.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: 2017-03-03
Reporting Person: Rulli Jerry (Former Chief Operating Officer)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2017-03-03 | Common Stock | A | 6851 | $28.82 | Acquired | 22407 | Direct |
| 2017-03-03 | Common Stock | F | 2209 | $28.82 | Disposed | 20198 | Direct |
| 2017-03-03 | Common Stock | A | 5428 | $28.82 | Acquired | 25626 | Direct |
| 2017-03-03 | Common Stock | F | 1762 | $28.82 | Disposed | 23864 | Direct |
| 2017-03-03 | Common Stock | A | 5083 | $28.82 | Acquired | 28947 | Direct |
| 2017-03-03 | Common Stock | F | 1650 | $28.82 | Disposed | 27297 | Direct |
| 2017-03-03 | Common Stock | A | 2859 | $28.82 | Acquired | 30156 | Direct |
| 2017-03-03 | Common Stock | F | 929 | $28.82 | Disposed | 29227 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2017-03-03 | Restricted Stock Units | $ | M | 6851 | Disposed | Common Stock (6851.0) | Direct | |
| 2017-03-03 | Restricted Stock Units | $ | D | 27143 | Disposed | Common Stock (27143.0) | Direct | |
| 2017-03-03 | Restricted Stock Units | $ | M | 5083 | Disposed | Common Stock (5083.0) | Direct | |
| 2017-03-03 | Restricted Stock Units | $ | D | 30500 | Disposed | Common Stock (30500.0) | Direct | |
| 2017-03-03 | Restricted Stock Units | $ | M | 5428 | Disposed | Common Stock (5428.0) | Direct | |
| 2017-03-03 | Restricted Stock Units | $ | M | 2859 | Disposed | Common Stock (2859.0) | Direct |
Footnotes
F1: Represents shares of common stock withheld by Issuer to pay tax witholding obligation of Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on September 29, 2014.
F2: Represents shares of common stock withheld by Issuer to pay tax witholding obligation of Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 29, 2015.
F3: Represents shares of common stock withheld by Issuer to pay tax witholding obligation of Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 18, 2016.
F4: Restricted stock units convert into common stock on a one-for-one basis.
F5: Reflects the accelerated vesting of all or a portion of previously granted restricted stock units immediately prior to the termination of employment of the Reporting Person with Issuer.
F6: On September 29, 2014, the Reporting Person was granted 20,551 restricted stock units, vesting in six equal semiannual installments beginning on April 1, 2015, subject to the continued employment of the Reporting Person with Issuer.
F7: As of the date of this filing, 13,700 restricted stock units have vested or been released.
F8: On January 29, 2015, the Reporting Person was granted 27,143 performance-based restricted stock units that 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, 2017.
F9: As of the date of this filing, no performance-based restricted stock units have vested or been released, and because Reporting Person left the employment of Issuer as Chief Operating Officer effective March 3, 2017, the unvested remaining performance-based restricted stock units were cancelled.
F10: On January 18, 2016, the Reporting Person was granted 15,250 restricted stock units, vesting in six equal semiannual installments beginning on October 1, 2016, subject to the continued employment of the Reporting Person with Issuer.
F11: As of the date of this filing, 2,541 restricted stock units have vested or been released, and because Reporting Person left the employment of Issuer as Chief Operating Officer effective March 3, 2017, the uvnested remaining restricted stock units were cancelled.
F12: On January 18, 2016, the Reporting Person was granted 30,500 performance-based restricted stock units that 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.
F13: On January 29, 2016, the Reporting Person acquired 16,284 restricted stock units based on Issuer performance in FY15, vesting in five installments, with one-third vested 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.
F14: As of the date of this filing, 8,142 restricted stock units have vested or been released, and because Reporting Person left the employment of Issuer as Chief Operating Officer effective March 3, 2017, the unvested remaining restricted stock units were cancelled.
F15: On January 30, 2017, the Reporting Person acquired 5,718 restricted stock units based on Issuer performance in FY16, vesting in five installments, with one-third vesting on April 1, 2017 and the remaining restricted stock units vesting in four equal semi-annual installments, subject to the continued employment of the Reporting Person with Issuer.
F16: As of the date of this filing, no restricted stock units have vested or been released, and because Reporting Person left the employment of Issuer as Chief Operating Officer effective March 3, 2017, the unvested remaining restricted stock units were cancelled.