Form 4: Progress Software EVP Ainsworth Reports Stock Transactions
SEC Form 4 Filing
John Ainsworth, EVP/GM of Application and Data Platform at Progress Software, reports transactions involving restricted stock units and common stock.
Summary
- John Ainsworth, an EVP/GM at Progress Software Corporation, reported several transactions on October 1, 2024.
- These transactions involved the vesting of restricted stock units (RSUs) and the subsequent withholding of shares to cover tax obligations.
- Ainsworth acquired 1,124, then two tranches of 1,167 shares of common stock through the vesting of RSUs.
- He then disposed of 499, 518, and 518 shares of common stock to satisfy tax withholding requirements at a price of $66.55 per share.
- Following these transactions, Ainsworth directly owns 34,865 shares of Progress Software common stock and holds 5,837 restricted stock units.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports stock transactions related to executive compensation. There is no indication of positive or negative performance.
Industry Context
This filing is a routine disclosure related to executive compensation and stock-based awards, common in publicly traded companies. It provides transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve the issuance of shares related to existing compensation plans.
Key Dates
| Date | Description |
|---|---|
| January 20, 2022 | Reporting Person was granted 6,744 restricted stock units. |
| October 1, 2022 | Restricted stock units granted on January 20, 2022 vest in six equal semiannual installments beginning this date. |
| January 19, 2023 | Reporting Person was granted 7,003 restricted stock units. |
| October 1, 2023 | Restricted stock units granted on January 19, 2023 vest in six equal semiannual installments beginning this date. |
| January 18, 2024 | Reporting Person was granted 7,004 restricted stock units. |
| October 1, 2024 | Date of the reported transactions: vesting of RSUs and withholding of shares for taxes; Restricted stock units granted on January 18, 2024 vest in six equal semiannual installments beginning this date. |
| October 03, 2024 | Date of signature for the Form 4 filing. |
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