SEC Form 4 · accession 0001270656-17-000015
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 12, 2017
Accepted (ET)
Oct 16, 2017 · 1:58 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 | Oct 12, 2017 | M | 2,700 | $24.09 | A | 68,434 | D | |
| Common StockF1 | Oct 12, 2017 | F | 1,948 | $40.98 | D | 66,486 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Common StockF2 | $24.09 | Oct 12, 2017 | M | 2,700 | D | — | Oct 15, 2017 | Stock Option | 2,700 | 0 | D |
Explanation of responses
- F1This Form 4 is being filed to report the exercise of a stock option for a total of 2,700 shares by means of a stock swap. A stock swap is a method of exercising a stock option in which the option holder attests to the ownership of enough shares of stock already owned by the option holder to cover the exercise price of the option being exercised. As a result of this stock swap, the Reporting Person acquired ownership of an additional 752 shares of common stock.
- F2Eight-sixtieths (8/60) of the options were vested and exercisable on the grant date. The remaining options vested in 52 equal monthly increments commencing on November 1, 2010.