Form 4: Progress Software EVP Ainsworth Reports Stock Transactions
SEC Form 4
John Ainsworth, EVP/GM of Application and Data Platform at Progress Software, reports transactions involving restricted stock units and common stock.
Summary
- On April 1, 2024, John Ainsworth, EVP/GM of Application and Data Platform at Progress Software, reported transactions involving Progress Software Corp (PRGS) common stock.
- These transactions included the vesting of restricted stock units and the subsequent withholding of shares to cover tax obligations.
- Ainsworth acquired 939, 1,124, and 1,167 shares of common stock through the vesting of restricted stock units.
- He also disposed of 417, 499, and 518 shares of common stock to satisfy tax withholding requirements.
- Following these transactions, Ainsworth directly owns 62,633 shares of Progress Software common stock and 4,669 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, so the sentiment is neutral.
Industry Context
This Form 4 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.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine compensation-related stock activity by an executive.
Key Dates
| Date | Description |
|---|---|
| January 19, 2021 | Reporting Person was granted 5,634 restricted stock units. |
| October 1, 2021 | Restricted stock units granted on January 19, 2021 begin to vest in six equal semiannual installments. |
| January 20, 2022 | Reporting Person was granted 6,744 restricted stock units. |
| October 1, 2022 | Restricted stock units granted on January 20, 2022 begin to vest in six equal semiannual installments. |
| January 19, 2023 | Reporting Person was granted 7,003 restricted stock units. |
| October 1, 2023 | Restricted stock units granted on January 19, 2023 begin to vest in six equal semiannual installments. |
| April 01, 2024 | Date of stock transactions (vesting of RSUs and tax withholding). |
| April 03, 2024 | Date of Form 4 filing. |
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