Form 4: Progress Software Corp: Chief Legal Officer Reports Stock Transactions
SEC Form 4 Filing
YuFan Stephanie Wang, Chief Legal Officer of Progress Software Corp, reports the vesting and subsequent tax withholding of shares related to restricted stock units.
Summary
- On April 1, 2025, YuFan Stephanie Wang, Chief Legal Officer of Progress Software Corp, reported transactions involving common stock and restricted stock units.
- These transactions include the vesting of restricted stock units and the subsequent withholding of shares to cover tax obligations.
- The vesting events are related to restricted stock units granted on June 30, 2022, January 19, 2023, and January 18, 2024, under the company's 2008 Stock Option and Incentive Plan.
- A total of 460, 1,070, and 1,037 restricted stock units vested on April 1, 2025, from the grants made on June 30, 2022, January 19, 2023, and January 18, 2024, respectively.
- Shares were withheld to cover tax obligations at a price of $56.16 per share, resulting in the withholding of 204, 475, and 460 shares, respectively.
- Following these transactions, Wang directly owns 1,428 shares of common stock and holds 4,152 restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions related to executive compensation. It doesn't indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure related to insider transactions and is a standard practice for publicly traded companies. It provides transparency into the trading activities of company executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve the vesting of previously granted equity compensation.
Key Dates
| Date | Description |
|---|---|
| 06/30/2022 | Reporting Person was granted 2,760 restricted stock units. |
| 01/19/2023 | Reporting Person was granted 6,419 restricted stock units. |
| 01/18/2024 | Reporting Person was granted 6,226 restricted stock units. |
| 04/01/2025 | Transactions occurred involving vesting of restricted stock units and tax withholding. |
| 04/03/2025 | Date of signature for the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Restricted Stock Units, Common Stock, Progress Software, PRGS, Insider Trading, Wang YuFan Stephanie, Chief Legal Officer
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