SEC Form 4 · accession 0001334575-16-000004
PROGRESS SOFTWARE CORP /MA · PRGS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kurt Abkemeier
Officer — Chief Financial Officer
Period of report
Sep 30, 2016
Accepted (ET)
Oct 4, 2016 · 5:13 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 | — | Oct 1, 2016 | M | 8,824 | A | — | — | Common Stock | 8,824 | 8,824 | D |
| Restricted Stock UnitsF1,F3 | — | Oct 1, 2016 | M | 60,662 | A | — | — | Common Stock | 60,662 | 60,662 | D |
| Restricted Stock UnitsF1,F4 | — | Oct 1, 2016 | M | 27,574 | A | — | — | Common Stock | 27,574 | 27,574 | D |
Explanation of responses
- F1Restricted stock units convert into common stock on a one-for-one basis.
- F2Represents restricted stock units acquired by Reporting Person as part of New Hire Grant 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 semi-annual installments beginning on April 1, 2017, subject to the continued employment of the Reporting Person with Issuer.
- F3Represents restricted stock units acquired by the Reporting Person as part of New Hire Grant 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 on September 30, 2019, subject to the continued employment of the Reporting Person with Issuer.
- F4Represents performance-based restricted stock units acquired by the Reporting Person as part of New Hire Grant 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 performance-based restricted stock units 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.