SEC Form 4 · accession 0001582299-15-000004
PROGRESS SOFTWARE CORP /MA · PRGS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Karen T. Padir
Officer — Pres, Business Line Executive
Period of report
Oct 16, 2015
Accepted (ET)
Oct 20, 2015 · 5:19 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 Stock | Oct 16, 2015 | M | 1,679 | $23.93 | A | 44,512 | D | |
| Common StockF1 | Oct 16, 2015 | F | 546 | $23.93 | D | 43,966 | D | |
| Common Stock | Oct 16, 2015 | M | 1,967 | $23.93 | A | 45,933 | D | |
| Common StockF2 | Oct 16, 2015 | F | 640 | $23.93 | D | 45,293 | D | |
| Common Stock | Oct 16, 2015 | M | 2,326 | $23.93 | A | 47,619 | D | |
| Common StockF3 | Oct 16, 2015 | F | 756 | $23.93 | D | 46,863 | 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 UnitsF7,F4,F6 | — | Oct 16, 2015 | M | 1,679 | D | — | — | Common Stock | 1,679 | 0 | D |
| Restricted Stock UnitsF9,F4,F8 | — | Oct 16, 2015 | M | 1,967 | D | — | — | Common Stock | 1,967 | 0 | D |
| Restricted Stock UnitsF11,F4,F10 | — | Oct 16, 2015 | M | 2,326 | D | — | — | Common Stock | 2,326 | 0 | D |
Explanation of responses
- F1Represents shares of common stock withheld by Issuer to pay tax withholding obligation of Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 13, 2014.
- F10On January 29, 2015, the Reporting Person was granted 6,980 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.
- F11As of the date of this filing, 1,163 restricted stock units have already vested and been released. 2,326 restricted stock units vested on the Transaction Date and 3,489 restricted stock units cancelled due to termination of employment of the Reporting Person with Issuer.
- F2Represents shares of common stock withheld by Issuer to pay tax withholding obligation of Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 7, 2014.
- F3Represents shares of common stock withheld by Issuer to pay tax withholding obligation of Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 29, 2015.
- F4Restricted stock units convert into common stock on a one-for-one basis.
- F5Reflects the accelerated vesting of all or a portion of previously granted restricted stock units immediately prior to the termination of employment of the Reporting Person with Issuer.
- F6On January 13, 2014, the Reporting Person was granted 5,036 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.
- F7As of the date of this filing, 2,517 restricted stock units have already vested and been released. 1,679 restricted stock units vested on the Transaction Date and 840 restricted stock units cancelled due to termination of employment of the Reporting Person with Issuer.
- F8On January 7, 2014, the Reporting Person was granted 11,800 restricted stock units, vesting in five installments, with one-third vesting on April 1, 2014 and the remaining restricted stock units vesting in four equal semi-annual installments, subject to the continued employment of the Reporting Person with Issuer.
- F9As of the date of this filing, 9,833 restricted stock units have already vested and been released.