Form 4: Progress Software EVP Sundar Subramanian Reports Stock Sale
SEC Form 4 Filing
EVP/GM Infrastructure Management of Progress Software Corporation, Sundar Subramanian, reports selling 584 shares of common stock at $49.89 per share.
Summary
- Sundar Subramanian, EVP/GM Infrastructure Management at Progress Software Corporation, reported a transaction involving the company's common stock on April 30, 2024.
- He sold 584 shares at a price of $49.89 per share.
- Following the transaction, Subramanian directly owns 17,195 shares of Progress Software Corporation.
- The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on August 9, 2023.
- The reported holdings include 584 shares acquired through the Employee Stock Purchase Plan on March 31, 2024.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it is a standard disclosure of an insider transaction. The sale was conducted under a pre-arranged trading plan, suggesting it's not necessarily indicative of the executive's outlook on the company.
Industry Context
This filing is a routine disclosure of insider trading activity. It provides transparency to the market regarding the actions of company executives.
Key Dates
| Date | Description |
|---|---|
| 2023-08-09 | Date of adoption of Rule 10b5-1 trading plan |
| 2024-03-31 | Date of acquisition of shares through Employee Stock Purchase Plan |
| 2024-04-30 | Date of stock sale transaction |
| 2024-05-02 | Date of Form 4 filing |
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