SEC Form 4 · accession 0001270656-17-000007
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
Apr 1, 2017
Accepted (ET)
Apr 5, 2017 · 3:55 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 | Apr 1, 2017 | M | 1,085 | $0.00 | A | 60,270 | D | |
| Common StockF3 | Apr 1, 2017 | F | 384 | $29.12 | D | 59,886 | D | |
| Common StockF1 | Apr 1, 2017 | M | 517 | $0.00 | A | 60,403 | D | |
| Common StockF4 | Apr 1, 2017 | F | 164 | $29.12 | D | 60,239 | D | |
| Common StockF1 | Apr 1, 2017 | M | 651 | $0.00 | A | 60,890 | D | |
| Common StockF5 | Apr 1, 2017 | F | 206 | $29.12 | D | 60,684 | D | |
| Common StockF1 | Apr 1, 2017 | M | 508 | $0.00 | A | 61,192 | D | |
| Common StockF6 | Apr 1, 2017 | F | 161 | $29.12 | D | 61,031 | D | |
| Common StockF1 | Apr 1, 2017 | M | 381 | $0.00 | A | 61,412 | D | |
| Common StockF7 | Apr 1, 2017 | F | 121 | $29.12 | D | 61,291 | 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,F8 | — | Apr 1, 2017 | M | 1,085 | A | — | — | Common Stock | 1,085 | 0 | D |
| Restricted Stock UnitsF1,F9 | — | Apr 1, 2017 | M | 517 | A | — | — | Common Stock | 517 | 1,034 | D |
| Restricted Stock UnitsF1,F10 | — | Apr 1, 2017 | M | 651 | A | — | — | Common Stock | 651 | 1,551 | D |
| Restricted Stock UnitsF1,F11 | — | Apr 1, 2017 | M | 508 | A | — | — | Common Stock | 508 | 2,034 | D |
| Restricted Stock UnitsF1,F12 | — | Apr 1, 2017 | M | 381 | A | — | — | Common Stock | 381 | 3,050 | D |
Explanation of responses
- F1Restricted stock units convert into common stock on a one-for-one basis.
- F10On January 29, 2015, the Reporting Person was granted 4,653 performance-based restricted stock units, vesting 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.
- F11On 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.
- F12On January 18, 2016, the Reporting Person was granted 4,575 performance-based restricted stock units, vesting in five installments, with one-third vesting on April 1, 2017 and the remaining performance-based restricted stock units vesting in four equal semi-annual installments, subject to the continued employment of the Reporting Person with Issuer.
- F2Includes 170 shares of common stock acquired through the Employee Stock Purchase Plan on September 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 performance-based 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.
- F7Represents shares of common stock withheld by Issuer to pay tax witholding obligation of Reporting Person upon the vesting of performance-based restricted stock units granted to the Reporting Person on January 18, 2016.
- F8On 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.
- F9On January 29, 2015, the Reporting Person was granted 3,102 restricted stock units, vesting in six equal semiannual installments beginning on October 1, 2015, subject to the continued employment of the Reporting Person with Issuer.