Form 4: Progress Software CEO Yogesh K. Gupta Reports Stock Transactions
SEC Form 4
CEO Yogesh K. Gupta reports the vesting of restricted stock units and subsequent tax withholding, resulting in changes to his beneficial ownership of Progress Software Corp. stock.
Summary
- On April 1, 2025, Yogesh K. Gupta, CEO of Progress Software Corporation, reported transactions involving common stock and restricted stock units.
- These transactions included the vesting of restricted stock units, which convert into common stock on a one-for-one basis.
- The company withheld shares to cover tax obligations related to the vesting of these units.
- Gupta's direct ownership of common stock following these transactions is 207,639 shares.
Sentiment
Score: 5
Explanation: This is a neutral filing related to standard executive compensation practices. It doesn't inherently indicate positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding the holdings and transactions of company insiders.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
- The transactions have a minimal impact on the company's financial position.
Key Dates
| Date | Description |
|---|---|
| January 20, 2022 | Reporting Person was granted 37,087 restricted stock units. |
| October 1, 2022 | Restricted stock units granted on January 20, 2022 begin to vest in six equal semiannual installments. |
| January 19, 2023 | Reporting Person was granted 40,849 restricted stock units. |
| October 1, 2023 | Restricted stock units granted on January 19, 2023 begin to vest in six equal semiannual installments. |
| January 18, 2024 | Reporting Person was granted 44,095 restricted stock units. |
| October 1, 2024 | Restricted stock units granted on January 18, 2024 begin to vest in six equal semiannual installments. |
| April 1, 2025 | Date of reported stock transactions (vesting of restricted stock units and tax withholding). |
| April 3, 2025 | Date of filing by Attorney-in-Fact. |
Keywords
Progress Software, Yogesh K. Gupta, CEO, Stock Transactions, Restricted Stock Units, Beneficial Ownership, Form 4
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