SEC Form 4 · accession 0000876167-18-000067
PROGRESS SOFTWARE CORP /MA · PRGS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Samskriti King
Director
Period of report
Jun 29, 2018
Accepted (ET)
Jul 3, 2018 · 10:39 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000876167
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jun 29, 2018 | A | 5,152 | $38.82 | A | 13,215 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents deferred stock units issued to the Reporting Person by Progress Software Corporation (the "Company") as the fiscal year 2018 equity retainer for the Reporting Person's services as a director of the Company during such period. These deferred stock units were issued in accordance with the Company's FY18 Director Compensation Plan pursuant to the Company's 2008 Stock Option and Incentive Plan and are payable on a one-for-one basis exclusively in common stock on the earlier of a change in control of the Company or the date the Reporting Person terminates service on the board of directors of the Company (the "Board of Directors"). The deferred stock units will vest on the date of the Company's 2019 Annual Meeting of Stockholders, subject to the Reporting Person's continued service on the Board of Directors until such date.