Form 4: Progress Software CFO Anthony Folger Reports Stock Transactions

Anthony Folger, CFO of Progress Software, reports the vesting of restricted stock units and subsequent withholding of shares for tax obligations.

Summary

• On April 1, 2024, Anthony Folger, the Chief Financial Officer of Progress Software Corporation, reported transactions involving common stock and restricted stock units.
• Folger acquired shares through the vesting of restricted stock units and simultaneously had shares withheld by the company to cover tax obligations.
• The transactions involved the vesting of restricted stock units granted on January 19, 2021, January 20, 2022, and January 19, 2023.
• The price per share for the tax withholding was $52.97.
• Following these transactions, Folger directly owns 40,814 shares of Progress Software common stock and 10,116 restricted stock units.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading activities.
• Similar filings are made by executives at comparable software companies like Microsoft, Oracle, and Salesforce, reflecting their stock transactions.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation and stock ownership.
• The transactions have a minimal direct impact on employees, customers, suppliers, or creditors.

Key Dates