SEC Form 4 · accession 0001225499-16-000009
PROGRESS SOFTWARE CORP /MA · PRGS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Chris E Perkins
Other
Period of report
Sep 28, 2016
Accepted (ET)
Oct 19, 2016 · 4:12 pm EDT
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 | — | Sep 28, 2016 | D | 4,896 | D | — | — | Common Stock | 4,896 | 0 | D |
| Restricted Stock UnitsF1,F3 | — | Sep 28, 2016 | D | 31,473 | D | — | — | Common Stock | 31,473 | 0 | D |
| Restricted Stock UnitsF1,F4 | — | Sep 28, 2016 | D | 5,171 | D | — | — | Common Stock | 5,171 | 0 | D |
| Restricted Stock UnitsF1,F5 | — | Sep 28, 2016 | D | 7,756 | D | — | — | Common Stock | 7,756 | 0 | D |
| Restricted Stock UnitsF1,F6 | — | Sep 28, 2016 | D | 29,082 | D | — | — | Common Stock | 29,082 | 0 | D |
| Restricted Stock UnitsF1,F7 | — | Sep 28, 2016 | D | 7,625 | D | — | — | Common Stock | 7,625 | 0 | D |
| Restricted Stock UnitsF1,F8 | — | Sep 28, 2016 | D | 28,594 | D | — | — | Common Stock | 28,594 | 0 | D |
Explanation of responses
- F1Restricted stock units convert into common stock on a one-for-one basis.
- F2On January 13, 2014, the Reporting Person was granted 14,688 restricted stock units, vesting in six equal semi-annual installments beginning on October 1, 2014, subject to the continued employment of the Reporting Person with Issuer. Reporting Person retired as Chief Financial Officer effective September 28, 2016, and the unvested restricted stock units were cancelled.
- F3On January 13, 2014, the Reporting Person was granted 31,743 performance-based restricted stock units that vest based on Issuer's total shareholder return over a three-year period, as will be determined at the first meeting of the Issuer's compensation committee following November 30, 2016. Reporting Person retired as Chief Financial Officer effective September 28, 2016, and the unvested performance-based restricted stock units were cancelled.
- F4On January 29, 2015, the Reporting Person was granted 7,755 restricted stock units, vesting in six equal semi-annual installments beginning on October 1, 2015, subject to the continued employment of the Reporting Person with Issuer. Reporting Person retired as Chief Financial Officer effective September 28, 2016, and the unvested restricted stock units were cancelled.
- F5On January 29, 2015, the Reporting Person was granted 11,633 performance-based restricted stock units based on Issuer performance in FY15. Upon determination of achievement for FY15, each restricted stock unit vesting in five installments, with one-third vesting on April 1, 2016 and the remaining restricted stock units vests in four semi-annual installments, subject to the continued employment of the Reporting Person with Issuer. Reporting Person retired as Chief Financial Officer effective September 28, 2016, and the unvested restricted stock units were cancelled.
- F6On January 29, 2015, the Reporting Person was granted 29,082 performance-based restricted stock units that vest based on Issuer's total shareholder return over a three-year period, as will be determined at the first meeting of the Issuer's compensation committee following November 30, 2017. Reporting Person retired as Chief Financial Officer effective September 28, 2016, and the unvested performance-based restricted stock units were cancelled.
- F7On January 18, 2016, the Reporting Person was granted 7,625 restricted stock units, vesting in six equal semi-annual installments beginning on October 1, 2016, subject to the continued employment of the Reporting Person with Issuer. Reporting Person retired as Chief Financial Officer effective September 28, 2016, and the unvested restricted stock units were cancelled.
- F8On January 18, 2016, the Reporting Person was granted 28,594 performance-based restricted stock units that vest based on Issuer's total shareholder return over a three-year period, as will be determined at the first meeting of the Issuer's compensation committee following November 30, 2018. Reporting Person retired as Chief Financial Officer effective September 28, 2016, and the unvested performance-based restricted stock units were cancelled.
Remarks
The Reporting Person retired as the Chief Financial Officer of Issuer effective September 28, 2016. As a result, the Reporting Person is no longer subject to Section 16 in connection with his transactions in the equity securities of Issuer and therefore will no longer report any such transactions on Form 4 or Form 5.