Form 4: Progress Software CFO Executes Pre-Planned Stock Sale Under Rule 10b5-1

Anthony Folger, Chief Financial Officer of Progress Software Corporation, sold 5,529 shares of company common stock on July 8, 2025, as part of a pre-existing Rule 10b5-1 trading plan.

Summary

• Anthony Folger, Chief Financial Officer of Progress Software Corporation (PRGS), sold a total of 5,529 shares of common stock on July 8, 2025.
• The sales were executed in two tranches: 3,718 shares at a weighted average price of $52.78 per share, and 1,811 shares at a weighted average price of $53.36 per share.
• These transactions were conducted under a Rule 10b5-1 trading plan adopted on April 8, 2025, which was prior to recent stock price volatility.
• Following these sales, Anthony Folger beneficially owns 43,559 shares of Progress Software common stock.
• The reported beneficial ownership includes 495 shares acquired on March 31, 2025, through the Company's Employee Stock Purchase Plan.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. While it's an insider sale, it's under a pre-planned 10b5-1, which mitigates negative interpretations. The explicit mention of the plan being adopted 'prior to recent volatility' also adds a layer of transparency and planning.

Positives

• The sale was conducted under a pre-existing Rule 10b5-1 trading plan, indicating a planned transaction rather than a reactive one.
• The plan was adopted prior to recent stock price volatility, suggesting the sale was not influenced by short-term market movements.

Negatives

• An insider sale, even if pre-planned, reduces the officer's direct equity stake in the company.

Future Outlook

NA

Management Comments

• The sale reported in this Form 4 was effected pursuant to a preexisting Rule 10b5-1 trading plan adopted by the Reporting Person on April 8, 2025, prior to the recent volatility in the Company's stock price and in compliance with all applicable laws and regulations.
• 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.

Industry Context

NA

Stakeholder Impact

• Shareholders: May note the reduction in direct ownership by a key executive, though the pre-planned nature of the sale under Rule 10b5-1 typically lessens concerns compared to unscheduled sales.

Key Dates

Recommendation

Keywords

Progress Software, PRGS, Anthony Folger, CFO, Insider Sale, Form 4, Rule 10b5-1, Stock Transaction, Equity Sale, Corporate Officer