PROGRESS SOFTWARE CORP /MA — Director's Dealing 2022

Jan 24, 2022

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2022-01-11

Reporting Person: LoCoco Domenic (Chief Accounting Officer)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1582	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Options (Right to buy)	$29.25	2024-02-16	Common Stock (1264.0)		Direct
Employee Stock Options (Right to buy)	$50.69	2025-01-11	Common Stock (4503.0)		Direct
Employee Stock Options (Right to buy)	$34.73	2026-01-21	Common Stock (6025.0)		Direct
Restricted Stock Units	$		Common Stock (228.0)		Direct
Restricted Stock Units	$		Common Stock (637.0)		Direct
Employee Stock Options (Right to buy)	$47.16	2027-01-20	Common Stock (5656.0)		Direct
Restricted Stock Units	$		Common Stock (1468.0)		Direct
Employee Stock Options (Right to buy)	$42.61	2028-01-18	Common Stock (8109.0)		Direct

Footnotes

F1: On February 17, 2017, the Reporting Person was granted 8,390 Employee Stock Options pursuant to Progress Software Corporation's (the "Company's") 2008 Stock Option and Incentive Plan. The stock options vest in eight equal semiannual installments beginning October 1, 2017, subject to the continued employment of the Reporting Person with the Company. 1,264 options are vested and exercisable. 7,126 options were exercised and sold.

F2: On January 12, 2018, the Reporting Person was granted 4,503 Employee Stock Options pursuant to the Company's 2008 Stock Option and Incentive Plan. The stock options vest in eight equal semiannual installments beginning October 1, 2018, subject to the continued employment of the Reporting Person with the Company. 3,941 options are vested and exercisable.

F3: On January 22, 2019, the Reporting Person was granted 6,525 Employee Stock Options pursuant to the Company's 2008 Stock Option and Incentive Plan. The stock options vest in eight equal semiannual installments beginning October 1, 2019, subject to the continued employment of the Reporting Person with the Company. 3,580 options are vested and exercisable. 500 options were exercised and sold.

F4: On January 22, 2019, the Reporting Person was granted 1,368 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.

F5: Restricted stock units convert into common stock on a one-for-one basis.

F6: On January 21, 2020, the Reporting Person was granted 1,273 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.

F7: On January 21, 2020, the Reporting Person was granted 5,656 Employee Stock Options pursuant to the Company's 2008 Stock Option and Incentive Plan. The stock options vest in eight equal semiannual installments beginning October 1, 2020, subject to the continued employment of the Reporting Person with the Company. 2,121 options are vested and exercisable.

F8: On January 19, 2021, the Reporting Person was granted 1,761 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.

F9: On January 19,2021, the Reporting Person was granted 8,109 Employee Stock Options pursuant to the Company's 2008 Stock Option and Incentive Plan. The stock options vest in eight equal semiannual installments beginning October 1, 2021, subject to the continued employment of the Reporting Person with the Company. 1,014 options are vested and exercisable.