PROGRESS SOFTWARE CORP /MA — Director's Dealing 2021

Oct 5, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2021-10-01

Reporting Person: Ainsworth John (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-10-01	Common Stock	M	1030	—	Acquired	27601	Direct
2021-10-01	Common Stock	F	447	$49.6675	Disposed	27154	Direct
2021-10-01	Common Stock	M	1008	—	Acquired	28162	Direct
2021-10-01	Common Stock	F	437	$49.6675	Disposed	27725	Direct
2021-10-01	Common Stock	M	742	—	Acquired	28467	Direct
2021-10-01	Common Stock	F	322	$49.6675	Disposed	28145	Direct
2021-10-01	Common Stock	M	939	—	Acquired	29084	Direct
2021-10-01	Common Stock	F	408	$49.6675	Disposed	28676	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-10-01	Restricted Stock Units	$	M	1030	Disposed		Common Stock (1030.0)	Direct
2021-10-01	Restricted Stock Units	$	M	1008	Disposed		Common Stock (1008.0)	Direct
2021-10-01	Restricted Stock Units	$	M	742	Disposed		Common Stock (742.0)	Direct
2021-10-01	Restricted Stock Units	$	M	939	Disposed		Common Stock (939.0)	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 October 15, 2018.

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 22, 2019.

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 21, 2020.

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 19, 2021.

F6: On October 15, 2018, the Reporting Person was granted 6,175 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. One-third of the restricted stock units vest beginning October 1, 2019 and the remaining restricted stock units vest in four equal semiannual installments beginning April 1, 2020, subject to the continued employment of the Reporting Person with the Company.

F7: On January 22, 2019, the Reporting Person was granted 6,047 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 4,453 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.

F9: On January 19, 2021, the Reporting Person was granted 5,634 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, 2021, subject to the continued employment of the Reporting Person with the Company.