Form 4: Progress Software CFO Anthony Folger Reports Stock Transactions
SEC Form 4 Filing
Chief Financial Officer Anthony Folger reports transactions involving Progress Software Corp. common stock, including the vesting and subsequent tax withholding of shares related to restricted stock units.
Summary
- On April 1, 2025, Anthony Folger, the CFO of Progress Software Corporation, engaged in multiple transactions involving the company's common stock.
- These transactions included the vesting of restricted stock units (RSUs) and the subsequent withholding of shares to cover tax obligations.
- Specifically, 2,248, 2,529, and 2,464 restricted stock units converted into common stock at a price of $0 per share.
- Following these conversions, shares were withheld to satisfy tax obligations at a price of $56.16 per share: 997 shares related to RSUs granted on January 20, 2022, 1,122 shares related to RSUs granted on January 19, 2023, and 1,093 shares related to RSUs granted on January 18, 2024.
- After these transactions, Folger directly owns 48,593 shares of Progress Software Corp. common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, and carries a neutral sentiment.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, like the CFO, and provides transparency into their transactions in the company's stock. It's a standard practice for publicly traded companies.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The vesting schedules and tax withholding practices described are common compensation components for executives in similar technology companies.
- Comparable companies such as Microsoft, Oracle, and Salesforce also have executives who regularly file Form 4s to report stock transactions.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the CFO's compensation and stock ownership.
- Employees holding RSUs are indirectly affected as this shows the vesting and tax implications of such grants.
Key Dates
| Date | Description |
|---|---|
| January 20, 2022 | Reporting Person was granted 13,487 restricted stock units |
| October 1, 2022 | Restricted stock units vest in six equal semiannual installments beginning this date |
| January 19, 2023 | Reporting Person was granted 15,173 restricted stock units |
| October 1, 2023 | Restricted stock units vest in six equal semiannual installments beginning this date |
| January 18, 2024 | Reporting Person was granted 14,785 restricted stock units |
| October 1, 2024 | Restricted stock units vest in six equal semiannual installments beginning this date |
| 04/01/2025 | Date of earliest transaction |
| 04/03/2025 | Signature date of YuFan Stephanie Wang, Attorney-in-Fact |
Keywords
Form 4, Progress Software, Anthony Folger, CFO, Restricted Stock Units, Stock Transactions, Beneficial Ownership
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