SEC Form 4 · accession 0001227485-15-000003
PROGRESS SOFTWARE CORP /MA · PRGS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Philip M Pead
Officer — President and CEO · Director
Period of report
Mar 2, 2015
Accepted (ET)
Mar 4, 2015 · 4:47 pm EST
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 | holding | — | — | — | 228,293 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2 | — | Mar 2, 2015 | A | 17,436 | A | — | — | Common Stock | 17,436 | 17,436 | D |
| Performance Share UnitsF3 | — | Mar 2, 2015 | A | 47,222 | A | — | — | Common Stock | 47,222 | 47,222 | D |
Explanation of responses
- F1This Form 4 corrects the amount of shares beneficially owned by the Reporting Person which previously included in error 73,437 performance share units that did not vest.
- F2Represents restricted stock units acquired by the Reporting Person pursuant to the Company's 2008 Stock Option and Incentive Plan. Each restricted stock unit represents a contingent right to receive one share of common stock. The restricted stock units vest in six equal semiannual installments beginning on October 1, 2015, subject to the continued employment of the Reporting Person with Progress Software Corporation.
- F3Represents performance-based restricted stock units that vest based on Progress Software Corporation total shareholder return over a three-year period, as will be determined at the first meeting of the Progress Software Corporation's compensation committee following November 30, 2017.