PROGRESS SOFTWARE CORP /MA — Director's Dealing 2019

Oct 3, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2019-10-01

Reporting Person: Murphy Anthony (Chief Information Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-10-01	Common Stock	M	405	—	Acquired	584	Direct
2019-10-01	Common Stock	F	156	$38.305	Disposed	428	Direct
2019-10-01	Common Stock	M	247	—	Acquired	675	Direct
2019-10-01	Common Stock	F	95	$38.305	Disposed	580	Direct
2019-10-01	Common Stock	M	360	—	Acquired	940	Direct
2019-10-01	Common Stock	F	139	$38.305	Disposed	801	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-10-01	Restricted Stock Units	$	M	405	Disposed		Common Stock (405.0)	Direct
2019-10-01	Restricted Stock Units	$	M	247	Disposed		Common Stock (247.0)	Direct
2019-10-01	Restricted Stock Units	$	M	360	Disposed		Common Stock (360.0)	Direct

Footnotes

F1: Restricted stock units convert into common stock on a one-for-one basis.

F2: Includes 179 shares of common stock acquired by the Reporting Person through Progress Software Corporation's (the "Company's") Employee Stock Purchase Plan: 59 shares on March 31, 2019 and 120 shares on June 30,2019.

F3: Represents shares of common stock withheld by Progress Software Corporation (the "Company") to pay the tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on June 30, 2017.

F4: Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 12, 2018.

F5: Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 22, 2019.

F6: On June 30, 2017, the Reporting Person was granted 2,428 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning April 1, 2018, subject to the continued employment of the Reporting Person with the Company.

F7: On January 12, 2018, the Reporting Person was granted 1,480 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2018, subject to the continued employment of the Reporting Person with the Company.

F8: On January 22, 2019, the Reporting Person was granted 2,160 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2019, subject to the continued employment of the Reporting Person with the Company.