PROGRESS SOFTWARE CORP /MA — Director's Dealing 2020

Oct 5, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2020-10-01

Reporting Person: Gupta Yogesh K (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-10-01	Common Stock	M	3601	—	Acquired	100400	Direct
2020-10-01	Common Stock	F	1599	$37.53	Disposed	98801	Direct
2020-10-01	Common Stock	M	5255	—	Acquired	104056	Direct
2020-10-01	Common Stock	F	2334	$37.53	Disposed	101722	Direct
2020-10-01	Common Stock	M	4082	—	Acquired	105804	Direct
2020-10-01	Common Stock	F	1813	$37.53	Disposed	103991	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-10-01	Restricted Stock Units	$	M	3601	Disposed		Common Stock (3601.0)	Direct
2020-10-01	Restricted Stock Units	$	M	5255	Disposed		Common Stock (5255.0)	Direct
2020-10-01	Restricted Stock Units	$	M	4082	Disposed		Common Stock (4082.0)	Direct

Footnotes

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

F2: Includes 657 shares of common stock acquired by the Reporting Person through Progress Software Corporation's (the "Company's") Employee Stock Purchase Plan on March 31, 2020.

F3: 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.

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 22, 2019

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 21, 2020.

F6: On January 12, 2018, the Reporting Person was granted 21,602 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.

F7: On January 22, 2019, the Reporting Person was granted 31,529 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.

F8: On January 21, 2020, the Reporting Person was granted 24,492 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, 2020, subject to the continued employment of the Reporting Person with the Company.