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PROGRESS SOFTWARE CORP /MA — Director's Dealing 2021
Feb 3, 2021
31754_dirs_2021-02-03_7bb8e5be-206b-46e3-b0d1-1650cb81637a.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2021-02-01
Reporting Person: QUINN GARY (Senior Vice President)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2021-02-01 | Common Stock | M | 5212 | — | Acquired | 13409 | Direct |
| 2021-02-01 | Common Stock | F | 2500 | $40.36 | Disposed | 10909 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2021-02-01 | Restricted Stock Units | $ | M | 5212 | Disposed | Common Stock (5212.0) | 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 performance-based restricted stock units granted to the Reporting Person on January 12, 2018.
F3: On January 12, 2018, the Reporting Person was granted 6,905 performance-based restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. A portion of the performance-based restricted stock units vested on February 1, 2021, based on the Company's meeting cumulative operating income criteria over the three-year period ending November 30, 2020, and the continued employment of the Reporting Person with the Company.