PROGRESS SOFTWARE CORP /MA — Director's Dealing 2022

Oct 5, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2022-10-03

Reporting Person: Pitt Ian (Chief Information Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-10-03	Common Stock	M	488	—	Acquired	1364	Direct
2022-10-03	Common Stock	F	163	$42.805	Disposed	1201	Direct
2022-10-03	Common Stock	M	674	—	Acquired	1875	Direct
2022-10-03	Common Stock	F	225	$42.805	Disposed	1650	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-10-03	Restricted Stock Units	$	M	488	Disposed		Common Stock (488.0)	Direct
2022-10-03	Restricted Stock Units	$	M	674	Disposed		Common Stock (674.0)	Direct

Footnotes

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

F2: Includes 518 shares of common stock acquired by the Reporting Person through Progress Software Corporation's (the "Company's") Employee Stock Purchase Plan: 431 shares on March 31, 2022 and 87 shares on June 30, 2022.

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 September 27, 2021.

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 20, 2022.

F5: On September 27, 2021, the Reporting Person was granted 2,931 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, 2022, subject to the continued employment of the Reporting Person with the Company.

F6: On January 20, 2022, the Reporting Person was granted 4,046 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, 2022, subject to the continued employment of the Reporting Person with the Company.