PROGRESS SOFTWARE CORP /MA — Director's Dealing 2023

Aug 22, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2023-08-18

Reporting Person: FOLGER ANTHONY (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-08-18	Common Stock	S	2513	$58.4414	Disposed	20098	Direct
2023-08-21	Common Stock	M	10000	$31.49	Acquired	30098	Direct
2023-08-21	Common Stock	S	10000	$58.9947	Disposed	20098	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-08-21	Employee Stock Options	$31.49	M	10000	Disposed	2027-03-29	Common Stock (10000)	Direct

Footnotes

F1: The trading activity reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 19, 2023.

F2: This transaction was executed in multiple trades at prices ranging from $58.155 to $58.66 per share. The price reported represents the weighted average sale price of these trades. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price.

F3: Includes 495 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.

F4: This transaction was executed in multiple trades at prices ranging from $58.635 to $59.33 per share. The price reported represents the weighted average sale price of these trades. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price.

F5: Options were granted to the Reporting Person on March 30, 2020 under the Company's 2008 Stock Option and Incentive Plan. As of April 1, 2023, 37,796 options were vested and exercisable.