PROGRESS SOFTWARE CORP /MA — Director's Dealing 2023

Oct 3, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2023-10-01

Reporting Person: Pitt Ian (Chief Information Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-10-01	Common Stock	M	489	—	Acquired	3013	Direct
2023-10-01	Common Stock	F	149	$53.16	Disposed	2864	Direct
2023-10-01	Common Stock	M	674	—	Acquired	3538	Direct
2023-10-01	Common Stock	F	205	$53.16	Disposed	3333	Direct
2023-10-01	Common Stock	M	680	—	Acquired	4013	Direct
2023-10-01	Common Stock	F	207	$53.16	Disposed	3806	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-10-01	Restricted Stock Units	$	M	489	Disposed		Common Stock (489)	Direct
2023-10-01	Restricted Stock Units	$	M	674	Disposed		Common Stock (674)	Direct
2023-10-01	Restricted Stock Units	$	M	680	Disposed		Common Stock (680)	Direct

Footnotes

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

F2: Includes 584 shares of common stock acquired by the Reporting Person on March 31, 2023 through Progress Software Corporation's (the "Company's") Employee Stock Purchase Plan.

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: 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 19, 2023.

F6: 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.

F7: 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.

F8: On January 19, 2023, the Reporting Person was granted 4,085 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, 2023, subject to the continued employment of the Reporting Person with the Company.