Form 4: Progress Software EVP Jarrett Loren Reports Stock Transactions
SEC Form 4 Filing
EVP/GM Digital Experience at Progress Software, Jarrett Loren, reports the vesting of restricted stock units and subsequent stock sales.
Summary
- Jarrett Loren, EVP/GM Digital Experience at Progress Software, reported transactions involving Progress Software Corp common stock.
- On February 1, 2025, 14,189 performance-based restricted stock units vested, converting into common stock on a one-for-one basis.
- 6,010 shares were withheld by the company to cover tax obligations related to the vesting.
- Loren sold 9,463 shares on February 3, 2025, at a weighted average price of $55.57 per share.
- An additional 611 shares were sold on February 3, 2025, at a weighted average price of $56.23 per share.
- These sales were executed under a Rule 10b5-1 trading plan adopted on February 6, 2024.
- Following these transactions, Loren directly owns 11,629 shares of Progress Software common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency to the market regarding the buying and selling activities of company executives.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The transactions reported are typical for executives who receive stock-based compensation.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the increased supply of shares in the market.
Key Dates
| Date | Description |
|---|---|
| 2022-01-20 | Reporting Person was granted 11,239 performance-based restricted stock units |
| 2024-02-06 | Rule 10b5-1 trading plan adopted by the Reporting Person |
| 2025-02-01 | 14,189 performance-based restricted stock units vested |
| 2025-02-03 | Shares of common stock sold |
| 2025-02-04 | Date of Form 4 signature |
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