Form 4: Progress Software Exec Reports Stock Transactions

Loren Jarrett of Progress Software Corporation reports transactions involving restricted stock units and common stock.

Summary

• Loren Jarrett, an officer of Progress Software Corporation (PRGS), reported several transactions on April 1, 2026.
• These transactions involved the acquisition of restricted stock units (RSUs) and the disposition of common stock.
• Specifically, 1,168 RSUs were acquired, converting into 1,168 shares of common stock with no cost.
• Additionally, 495 shares of common stock were disposed of to cover tax withholding obligations related to RSUs granted on January 19, 2023.
• Another 1,167 RSUs were acquired, and 495 shares of common stock were disposed of for tax withholding related to RSUs granted on January 18, 2024.
• Furthermore, 1,709 RSUs were acquired, and 724 shares of common stock were disposed of for tax withholding related to RSUs granted on January 23, 2025.
• Following these transactions, Jarrett beneficially owns 20,854 shares of common stock directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it primarily reports routine equity compensation vesting and associated tax withholding, which are standard for executives.

Positives

• Acquisition of 1,168 + 1,167 + 1,709 = 4,044 restricted stock units, indicating continued equity-based compensation and potential future value.
• The reporting person maintains direct beneficial ownership of 20,854 shares of common stock.

Negatives

• Disposition of 495 + 495 + 724 = 1,714 shares of common stock to cover tax withholding obligations, representing a reduction in directly held shares.
• The transactions are related to vesting of RSUs, which implies that the value of these units has appreciated since their grant date.

Future Outlook

The filing details the vesting schedules of restricted stock units granted in 2023, 2024, and 2025, which will continue to vest in semiannual installments subject to continued employment.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions and provide transparency into executive compensation and stock holdings within the software industry.

Stakeholder Impact

• Shareholders: Increased transparency into executive compensation and stock ownership.
• Employees: The vesting of RSUs for executives can be seen as a positive indicator of company performance and executive retention.
• Management: The transactions reflect the standard practice of equity compensation and tax management for corporate officers.

Next Steps

• Continued vesting of restricted stock units in semiannual installments.
• Potential future dispositions of common stock to cover tax withholding obligations upon subsequent vesting events.

Key Dates

Keywords

Form 4, SEC Filing, Progress Software, PRGS, Loren Jarrett, Restricted Stock Units, Common Stock, Beneficial Ownership, Insider Trading, Executive Compensation