Form 4: Progress Software Executive Ainsworth Reports Stock Transactions
SEC Form 4
John Ainsworth, EVP/GM of Application and Data Platform at Progress Software, reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On February 1, 2025, John Ainsworth, EVP/GM of Application and Data Platform at Progress Software Corporation, had 14,189 performance-based restricted stock units vest under the 2022 Long Term Incentive Plan.
- These units converted into common stock on a one-for-one basis.
- The vesting was based on the company meeting relative total shareholder return and cumulative operating income criteria over the three-year period ending November 30, 2024.
- Progress Software withheld 6,293 shares of common stock at a price of $57.23 to cover the reporting person's tax obligations.
- Following these transactions, Ainsworth directly owns 42,761 shares of Progress Software common stock.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the alignment of executive incentives with company performance.
Stakeholder Impact
- Shareholders may be interested in executive compensation and ownership as indicators of alignment with company goals.
Key Dates
| Date | Description |
|---|---|
| January 20, 2022 | Reporting Person was granted performance-based restricted stock units pursuant to Progress Software Corporation's 2008 Stock Option and Incentive Plan and 2022 Long Term Incentive Plan. |
| November 30, 2024 | End of the three-year performance period for the restricted stock units. |
| February 1, 2025 | Vesting date of 14,189 performance-based restricted stock units. |
| February 4, 2025 | Date of Form 4 filing. |
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