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PROGRESS SOFTWARE CORP /MA — Director's Dealing 2022
Feb 3, 2022
31754_dirs_2022-02-03_d6610310-3f46-4f65-be51-30a0b44ce2a7.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: 2022-02-01
Reporting Person: Gupta Yogesh K (Director, Chief Executive Officer)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2022-02-01 | Common Stock | M | 72845 | — | Acquired | 101074 | Direct |
| 2022-02-01 | Common Stock | F | 32308 | $45.93 | Disposed | 68766 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2022-02-01 | Restricted Stock Units | $ | M | 72845 | Disposed | Common Stock (72845.0) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 100000 | Indirect |
Footnotes
F1: On January 22, 2019, the Reporting Person was granted 52,549 performance-based restricted stock units pursuant to Progress Software Corporation's (the "Company's") 2008 Stock Option and Incentive Plan and 2019 Long Term Incentive Plan. Based on the Company meeting relative total shareholder return and cumulative operating income criteria over the three-year period ending November 30, 2021, the amount shown is the amount of performance-based restricted stock units that vested under the 2019 Long Term Incentive Plan on February 1, 2022.
F2: Restricted stock units convert into common stock on a one-for-one basis.
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 22, 2019.
F4: These shares are held in a trust for the benefit of the reporting person's spouse and children. The reporting person's spouse is trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and the inclusion of these securities in this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.