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: Kulikoski Kathryn (Chief People Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-10-01	Common Stock	M	646	—	Acquired	2719	Direct
2023-10-01	Common Stock	F	300	$53.16	Disposed	2419	Direct
2023-10-01	Common Stock	M	843	—	Acquired	3262	Direct
2023-10-01	Common Stock	F	391	$53.16	Disposed	2871	Direct
2023-10-01	Common Stock	M	826	—	Acquired	3697	Direct
2023-10-01	Common Stock	F	383	$53.16	Disposed	3314	Direct
2023-10-02	Common Stock	M	1487	$42.61	Acquired	4801	Direct
2023-10-02	Common Stock	S	1487	$52.50	Disposed	3314	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-10-01	Restricted Stock Units	$	M	646	Disposed		Common Stock (646)	Direct
2023-10-01	Restricted Stock Units	$	M	843	Disposed		Common Stock (843)	Direct
2023-10-01	Restricted Stock Units	$	M	826	Disposed		Common Stock (826)	Direct
2023-10-02	Employee Stock Options	$42.61	M	1487	Disposed	2028-01-18	Common Stock (1487)	Direct

Footnotes

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

F2: Represents shares of common stock withheld by Progress Software Corporation (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, 2021.

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 January 20, 2022.

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 19, 2023.

F5: The trading activity reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 13, 2023.

F6: On January 19, 2021, the Reporting Person was granted 3,874 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.

F7: On January 20, 2022, the Reporting Person was granted 5,058 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 4,961 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.

F9: Options were granted to the Reporting Person on January 19, 2021 under the Company's 2008 Stock Option and Incentive Plan. As of October 1, 2023, 7,434 options were vested and exercisable.