PROGRESS SOFTWARE CORP /MA — Director's Dealing 2025

Feb 4, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2025-02-01

Reporting Person: Pitt Ian (Chief Information Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-02-01	Common Stock	M	8513	—	Acquired	11680	Direct
2025-02-01	Common Stock	F	2585	$57.23	Disposed	9095	Direct
2025-02-03	Common Stock	S	1482	$56.60	Disposed	7613	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-02-01	Restricted Stock Units	$	M	8513	Disposed		Common Stock (8513)	Direct

Footnotes

F1: On January 20, 2022, the Reporting Person was granted 6,744 performance-based restricted stock units pursuant to Progress Software Corporation's (the "Company's") 2008 Stock Option and Incentive Plan and 2022 Long Term Incentive Plan. Based on the Company meeting relative total shareholder return and cumulative operating income criteria over the three-year period ending November 30, 2024, the amount shown is the amount of performance-based restricted stock units that vested under the 2022 Long Term Incentive Plan on February 1, 2025.

F2: Restricted stock units convert into common stock on a one-for-one basis.

F3: Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of performance-based restricted stock units granted to the Reporting Person on January 20, 2022.

F4: The trading activity reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on July 24, 2024.