PROGRESS SOFTWARE CORP /MA — Director's Dealing 2023

Feb 7, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2023-02-03

Reporting Person: Pitt Ian (Chief Information Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-03	Common Stock	M	2054	$51.18	Acquired	3704	Direct
2023-02-03	Common Stock	M	1398	$44.49	Acquired	5102	Direct
2023-02-03	Common Stock	S	3970	$56.8171	Disposed	1132	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-02-03	Employee Stock Options (Right to buy)	$51.18	M	2054	Disposed	2028-09-26	Common Stock (2054.0)	Direct
2023-02-03	Employee Stock Options (Right to buy)	$44.49	M	1398	Disposed	2029-01-19	Common Stock (1398.0)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $56.26 to $57.25 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.

F2: Options were granted to the Reporting Person on September 27, 2021 under Progress Software Corporation's (the "Company's") 2008 Stock Option and Incentive Plan. As of October 1, 2022, 2,054 options were vested and exercisable.

F3: Options were granted to the Reporting Person on January 20, 2022 under the Company's 2008 Stock Option and Incentive Plan. As of October 1, 2022, 1,398 options were vested and exercisable.