PROGRESS SOFTWARE CORP /MA — Director's Dealing 2020

Apr 3, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2020-04-01

Reporting Person: Murphy Anthony (Chief Information Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-04-01	Common Stock	M	405	—	Acquired	3265	Direct
2020-04-01	Common Stock	F	176	$31.11	Disposed	3089	Direct
2020-04-01	Common Stock	M	247	—	Acquired	3336	Direct
2020-04-01	Common Stock	F	108	$31.11	Disposed	3228	Direct
2020-04-01	Common Stock	M	360	—	Acquired	3588	Direct
2020-04-01	Common Stock	F	157	$31.11	Disposed	3431	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-04-01	Restricted Stock Units	$	M	405	Disposed		Common Stock (405.0)	Direct
2020-04-01	Restricted Stock Units	$	M	247	Disposed		Common Stock (247.0)	Direct
2020-04-01	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: 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.

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: 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.

F6: 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.

F7: 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.