PROGRESS SOFTWARE CORP /MA — Director's Dealing 2021

Feb 3, 2021

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: Murphy Anthony (Chief Information Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-01	Common Stock	M	1861	—	Acquired	6845	Direct
2021-02-01	Common Stock	F	758	$40.36	Disposed	6087	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-01	Restricted Stock Units	$	M	1861	Disposed		Common Stock (1861.0)	Direct

Footnotes

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

F2: Includes 193 shares of common stock acquired by the Reporting Person through Progress Software Corporation's (the "Company's") Employee Stock Purchase Plan: 154 shares on September 30, 2020 and 39 shares on December 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 performance-based restricted stock units granted to the Reporting Person on January 12, 2018.

F4: On January 12, 2018, the Reporting Person was granted 2,466 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.