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: FABERMAN STEPHEN H (Chief Legal Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-10-01	Common Stock	M	644	—	Acquired	92968	Direct
2021-10-01	Common Stock	F	273	$49.6675	Disposed	92695	Direct
2021-10-01	Common Stock	M	1008	—	Acquired	93703	Direct
2021-10-01	Common Stock	F	427	$49.6675	Disposed	93276	Direct
2021-10-01	Common Stock	M	742	—	Acquired	94018	Direct
2021-10-01	Common Stock	F	315	$49.6675	Disposed	93703	Direct
2021-10-01	Common Stock	M	939	—	Acquired	94642	Direct
2021-10-01	Common Stock	F	398	$49.6675	Disposed	94244	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-10-01	Restricted Stock Units	$	M	644	Disposed		Common Stock (644.0)	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: Includes 780 shares of common stock acquired by the Reporting Person through Progress Software Corporation's (the "Company's") Employee Stock Purchase Plan: 675 shares on March 31, 2021 and 105 shares on June 30, 2021.

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 October 15, 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: 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.

F7: On October 15, 2018, the Reporting Person was granted 3,860 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.

F8: 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.

F9: 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.

F10: 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.