SEC Form 4 · accession 0000876167-19-000022
PROGRESS SOFTWARE CORP /MA · PRGS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dmitri Tcherevik
Officer — Chief Technology Officer
Period of report
Jan 22, 2019
Accepted (ET)
Jan 24, 2019 · 4:21 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000876167
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | Jan 22, 2019 | A | 6,911 | A | — | — | Common Stock | 6,911 | 6,911 | D |
| Employee Stock OptionsF3 | $34.73 | Jan 22, 2019 | A | 21,979 | A | — | Jan 22, 2026 | Common Stock | 21,979 | 21,979 | D |
| Restricted Stock UnitsF1,F4 | — | Jan 22, 2019 | A | 11,518 | A | — | — | Common Stock | 11,518 | 11,518 | D |
Explanation of responses
- F1Each restricted stock unit represents a contingent right to receive one share of Progress Software Corporation's (the "Company's") common stock.
- F2Represents restricted stock units granted to the Reporting Person pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2019, subject to the continued employment of the Reporting Person with the Company.
- F3The stock options vest in eight equal semiannual installments beginning on October 1, 2019, subject to the continued employment of the Reporting Person with the Company.
- F4Represents performance-based restricted stock units granted to the Reporting Person pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest on February 1, 2022, subject to the Company meeting total shareholder return and operating income criteria over the three-year period ending November 30, 2021, and the continued employment of the Reporting Person with the Company.