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PROGRESS SOFTWARE CORP /MA — Director's Dealing 2023
Aug 10, 2023
31754_dirs_2023-08-10_7e256feb-5f53-4877-9f04-630a1ccc5d10.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: 2023-08-08
Reporting Person: Ainsworth John (EVP/GM App & Data Platform)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2023-08-08 | Common Stock | M | 23490 | $29.25 | Acquired | 66006 | Direct |
| 2023-08-08 | Common Stock | F | 16696 | $60.8975 | Disposed | 49310 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2023-08-08 | Employee Stock Options | $29.25 | M | 23490 | Disposed | 2024-02-16 | Common Stock (23490) | Direct |
Footnotes
F1: This Form 4 is being filed to report the exercise of stock options for a total of 23,490 shares, of which: (i) 11,283 shares owned by the Reporting Person were exchanged to cover the cost of the option exercise and (ii) 5,413 shares owned by the Reporting Person were withheld by Progress Software Corporation (the "Company") to pay the tax withholding obligations of the Reporting Person upon exercise of the stock options. As a result of this exercise, the Reporting Person acquired ownership of 6,794 shares of common stock.
F2: Options were granted to the Reporting Person on February 17, 2017 under the Company's 2008 Stock Option and Incentive Plan. As of April 1, 2021, 23,490 options were vested and exercisable.