SEC Form 4 · accession 0000876167-26-000097
PROGRESS SOFTWARE CORP /MA · PRGS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sundar Subramanian
Officer — EVP/GM Infrastructure Mgmt
Period of report
Jul 1, 2026
Accepted (ET)
Jul 6, 2026 · 4:17 pm EDT
Rule 10b5-1 plan
yes — trade under a plan
Issuer CIK
0000876167
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jul 1, 2026 | M | 10,597 | $38.06 | A | 28,967 | D | |
| Common StockF3 | Jul 1, 2026 | S | 10,597 | $38.27 | D | 18,370 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Options (Right to buy)F4 | $38.06 | Jul 1, 2026 | M | 10,597 | D | — | Sep 29, 2026 | Common Stock | 10,597 | 0 | D |
Explanation of responses
- F1Includes 579 shares of Progress Software Corporation's (the "Company") common stock, par value $0.01 per share ("Common Stock"), acquired by the Reporting Person on March 31, 2026, through the Company's Employee Stock Purchase Plan.
- F2The sale reported in this Form 4 was effected pursuant to a preexisting Rule 10b5-1 trading plan adopted by the Reporting Person on October 27, 2025, prior to the recent volatility in the price of the Company's Common Stock, and in compliance with all applicable laws and regulations.
- F3This tranche of the sale was executed in multiple trades at prices ranging from $38.16 to $38.49 per share. The price reported represents the weighted average sale price of these trades. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price.
- F4Options were granted to the Reporting Person on September 30, 2019, under the Company's 2008 Stock Option and Incentive Plan (the "Plan"). As of October 1, 2023, 14,617 options were vested and exercisable.