Form 4: Progress Software EVP Ainsworth Reports Stock Transactions
SEC Form 4
John Ainsworth, EVP/GM App & Data Platform at Progress Software, reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On April 1, 2025, John Ainsworth, EVP/GM App & Data Platform at Progress Software Corporation, reported transactions involving restricted stock units (RSUs) converting into common stock.
- These transactions included the vesting of RSUs granted on January 20, 2022, January 19, 2023, and January 18, 2024.
- A portion of the vested shares was withheld by Progress Software to cover tax obligations.
- Following these transactions, Ainsworth directly owns 44,684 shares of Progress Software common stock and 4,670 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't contain information that would significantly impact investor sentiment positively or negatively.
Positives
- The vesting of RSUs indicates that Ainsworth is meeting the conditions of his equity grants, which are tied to continued employment with the company.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the equity holdings and transactions of company insiders.
Comparison to Industry Standards
- Equity compensation is a standard practice in the software industry to align the interests of executives with those of shareholders.
- The vesting schedules and terms of the restricted stock units are typical for executive compensation packages in comparable companies.
- Companies like Microsoft, Oracle, and Salesforce also utilize restricted stock units as part of their executive compensation plans.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the ongoing dilution from equity compensation programs.
- Employees may be interested in the details of executive compensation as it provides context for their own equity grants.
Key Dates
| Date | Description |
|---|---|
| January 20, 2022 | Reporting Person was granted 6,744 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. |
| October 1, 2022 | Restricted stock units granted on January 20, 2022 vest in six equal semiannual installments beginning on this date. |
| January 19, 2023 | Reporting Person was granted 7,003 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. |
| October 1, 2023 | Restricted stock units granted on January 19, 2023 vest in six equal semiannual installments beginning on this date. |
| January 18, 2024 | Reporting Person was granted 7,004 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. |
| October 1, 2024 | Restricted stock units granted on January 18, 2024 vest in six equal semiannual installments beginning on this date. |
| April 01, 2025 | Date of earliest transaction: vesting of restricted stock units and tax withholding. |
| April 03, 2025 | Date of signature for the Form 4 filing. |
Keywords
Progress Software, PRGS, John Ainsworth, Restricted Stock Units, RSU, Form 4, Insider Trading, Beneficial Ownership, Stock Options, Equity Compensation
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