SEC Form 4 · accession 0001270656-16-000014
PROGRESS SOFTWARE CORP /MA · PRGS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen H Faberman
Officer — Chief Legal Officer
Period of report
Oct 1, 2016
Accepted (ET)
Oct 4, 2016 · 5:10 pm 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,F2 | Oct 1, 2016 | M | 1,084 | — | A | 56,776 | D | |
| Common StockF3 | Oct 1, 2016 | F | 352 | $27.19 | D | 56,424 | D | |
| Common StockF1 | Oct 1, 2016 | M | 517 | — | A | 56,941 | D | |
| Common StockF4 | Oct 1, 2016 | F | 168 | $27.19 | D | 56,773 | D | |
| Common StockF1 | Oct 1, 2016 | M | 651 | — | A | 57,424 | D | |
| Common StockF5 | Oct 1, 2016 | F | 212 | $27.19 | D | 57,212 | D | |
| Common StockF1 | Oct 1, 2016 | M | 508 | — | A | 57,720 | D | |
| Common StockF6 | Oct 1, 2016 | F | 165 | $27.19 | D | 57,555 | 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 UnitsF1,F7 | — | Oct 1, 2016 | M | 1,084 | D | — | — | Common Stock | 1,084 | 1,085 | D |
| Restricted Stock UnitsF1,F8 | — | Oct 1, 2016 | M | 517 | D | — | — | Common Stock | 517 | 1,551 | D |
| Restricted Stock UnitsF1,F9 | — | Oct 1, 2016 | M | 651 | D | — | — | Common Stock | 651 | 2,327 | D |
| Restricted Stock UnitsF1,F10 | — | Oct 1, 2016 | M | 508 | D | — | — | Common Stock | 508 | 2,542 | D |
Explanation of responses
- F1Restricted stock units convert into common stock on a one-for-one basis.
- F10On January 18, 2016, the Reporting Person was granted 3,050 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.
- F2Includes 918 shares of common stock acquired through the Employee Stock Purchase Plan: 618 shares on March 31, 2016, and 300 shares on June 30, 2016.
- F3Represents shares of common stock withheld by Issuer to pay tax witholding obligation of Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 13, 2014.
- F4Represents shares of common stock withheld by Issuer to pay tax witholding obligation of Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 29, 2015.
- F5Represents shares of common stock withheld by Issuer to pay tax witholding obligation of Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 29, 2015.
- F6Represents shares of common stock withheld by Issuer to pay tax witholding obligation of Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 18, 2016.
- F7On January 13, 2014, the Reporting Person was granted 6,505 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.
- F8On January 29, 2015, the Reporting Person was granted 3,102 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.
- F9Represents performance-based restricted stock units acquired by the Reporting Person based on Issuer performance in FY15. Each restricted stock unit vests in five installments, with one-third vesting on April 1, 2016 and the remaining restricted stock units vesting in four equal semi-annual installments, subject to the continued employment of the Reporting Person with Issuer.