SEC Form 4 · accession 0001619688-15-000002
PROGRESS SOFTWARE CORP /MA · PRGS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Benedict
Officer — Pres, Business Unit Executive
Period of report
Feb 17, 2015
Accepted (ET)
Feb 19, 2015 · 3:55 pm EST
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 | Feb 17, 2015 | M | 849 | $19.96 | A | 21,788 | D | |
| Common Stock | Feb 17, 2015 | S | 849 | $26.65 | D | 20,939 | D | |
| Common Stock | Feb 17, 2015 | M | 300 | $13.01 | A | 21,239 | D | |
| Common Stock | Feb 17, 2015 | S | 300 | $26.65 | D | 20,939 | D | |
| Common Stock | Feb 17, 2015 | M | 360 | $14.67 | A | 21,299 | D | |
| Common Stock | Feb 17, 2015 | S | 360 | $26.65 | D | 20,939 | D | |
| Common Stock | Feb 17, 2015 | M | 5,160 | $15.93 | A | 26,099 | D | |
| Common Stock | Feb 17, 2015 | S | 5,160 | $26.65 | D | 20,939 | D | |
| Common Stock | Feb 17, 2015 | S | 13,638 | $26.65 | D | 7,301 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionF1 | $19.96 | Feb 17, 2015 | M | 849 | D | — | Apr 23, 2015 | Common Stock | 849 | 0 | D |
| Stock OptionF2 | $13.01 | Feb 17, 2015 | M | 300 | D | — | Oct 15, 2015 | Common Stock | 300 | 0 | D |
| Stock OptionF3 | $14.67 | Feb 17, 2015 | M | 360 | D | — | May 11, 2016 | Common Stock | 360 | 0 | D |
| Stock OptionF4 | $15.93 | Feb 17, 2015 | M | 5,160 | D | — | Oct 15, 2016 | Common Stock | 5,160 | 0 | D |
Explanation of responses
- F1This option grant reflects an amended option grant where "old" options were cancelled and "new" options were issued as replacement options. The option was originally granted on September 27, 2004 with seven-sixtieths (7/60) of the options vesting on the grant date and the remaining options vested in 53 equal monthly increments commencing on October 1, 2004.
- 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, 2008.
- F3Three-sixtieths (3/60) of the options were vested and exercisable on the grant date. The remaining options vested in 57 equal monthly increments commencing on June 1, 2009.
- F4Eight-sixtieths (8/60) of the options were vested and exercisable on the grant date. The remaining options vest in 52 equal monthly increments commencing on November 1, 2009.