Form 4: Progress Software EVP Loren Jarrett Executes Stock Options and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
EVP/GM Digital Experience Loren Jarrett of Progress Software Corp. exercised stock options and sold shares of common stock on May 9, 2025, according to a Form 4 filing.
Summary
- On May 9, 2025, Loren Jarrett, EVP/GM Digital Experience at Progress Software Corporation, executed stock options to acquire 19,231 shares at $34.73 and 13,196 shares at $47.16.
- Simultaneously, Jarrett sold 19,231 shares, 13,196 shares and 1,666 shares of Progress Software common stock at $61.1 per share.
- These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 7, 2025.
- Following these transactions, Jarrett directly owns 11,747 shares of Progress Software common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions related to stock options and share sales under a pre-existing trading plan. There is no indication of positive or negative sentiment towards the company's prospects.
Industry Context
This filing is a routine disclosure of insider trading activity. It is common for executives to have pre-arranged trading plans (Rule 10b5-1) to avoid accusations of trading on inside information.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the increased volume of shares traded.
Key Dates
| Date | Description |
|---|---|
| January 22, 2019 | Options were granted to the Reporting Person under Progress Software Corporation's 2008 Stock Option and Incentive Plan. |
| January 21, 2020 | Options were granted to the Reporting Person under Progress Software Corporation's 2008 Stock Option and Incentive Plan. |
| April 1, 2023 | As of this date, 19,231 options were vested and exercisable. |
| April 1, 2024 | As of this date, 13,196 options were vested and exercisable. |
| February 7, 2025 | The Reporting Person adopted a Rule 10b5-1 trading plan. |
| May 9, 2025 | Loren Jarrett executed stock options and sold shares of common stock. |
| May 13, 2025 | Date of the signature of YuFan Stephanie Wang, Attorney-in-Fact. |
| January 22, 2026 | Expiration date of Employee Stock Options (Right to buy) at $34.73. |
| January 21, 2027 | Expiration date of Employee Stock Options (Right to buy) at $47.16. |
Keywords
Form 4, Progress Software, Stock Options, Share Sale, Loren Jarrett, 10b5-1 Plan, Insider Trading
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