PROGRESS SOFTWARE CORP /MA — Director's Dealing 2023

Apr 24, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2023-04-20

Reporting Person: Jarrett Loren (EVP/GM Digital Experience)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-04-20	Common Stock	M	23490	$29.25	Acquired	42718	Direct
2023-04-20	Common Stock	S	23490	$56.5763	Disposed	19228	Direct
2023-04-20	Common Stock	M	13271	$50.69	Acquired	32499	Direct
2023-04-20	Common Stock	S	13271	$56.5669	Disposed	19228	Direct
2023-04-20	Common Stock	S	9267	$56.5719	Disposed	9961	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-04-20	Employee Stock Options	$29.25	M	23490	Disposed	2024-02-16	Common Stock (23490.0)	Direct
2023-04-20	Employee Stock Options	$50.69	M	13271	Disposed	2025-01-11	Common Stock (13271.0)	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 January 20, 2023.

F2: This transaction was executed in multiple trades at prices ranging from $56.27 to $56.855 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: This transaction was executed in multiple trades at prices ranging from $56.17 to $56.85 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.

F4: This transaction was executed in multiple trades at prices ranging from $56.19 to $56.85 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 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.

F6: Options were granted to the Reporting Person on January 12, 2018 under the Company's 2008 Stock Option and Incentive Plan. As of April 1, 2022, 13,271 options were vested and exercisable.