SEC Form 4 · accession 0001619688-15-000003

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

Apr 1, 2015

Accepted (ET)

Apr 3, 2015 · 4:26 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
Common Stock^F1	Apr 1, 2015	M	1,301	—	A	222,240	D
Common Stock^F2	Apr 1, 2015	F	500	$26.78	D	21,740	D
Common Stock^F1	Apr 1, 2015	M	2,500	—	A	24,240	D
Common Stock^F3	Apr 1, 2015	F	842	$26.78	D	23,398	D
Common Stock^F1	Apr 1, 2015	M	875	—	A	24,273	D
Common Stock^F4	Apr 1, 2015	F	282	$26.78	D	23,991	D
Common Stock^F1	Apr 1, 2015	M	1,049	—	A	25,040	D
Common Stock^F5	Apr 1, 2015	F	345	$26.78	D	24,695	D
Common Stock^F1	Apr 1, 2015	M	1,967	—	A	26,662	D
Common Stock^F6	Apr 1, 2015	F	652	$26.78	D	26,010	D

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Common Stock^F1,F7	—	Apr 1, 2015	M	1,301	D	—	—	Common Stock	1,301	0	D
Common Stock^F1,F8	—	Apr 1, 2015	M	2,500	D	—	—	Common Stock	2,500	5,000	D
Common Stock^F1,F9	—	Apr 1, 2015	M	875	D	—	—	Common Stock	876	0	D
Common Stock^F1,F10	—	Apr 1, 2015	M	1,049	D	—	—	Common Stock	1,049	4,197	D
Common Stock^F1,F11	—	Apr 1, 2015	M	1,967	D	—	—	Common Stock	1,967	3,934	D

Explanation of responses

F1Restricted stock units convert into common stock on a one-for-one basis.
F10On January 13, 2014, the Reporting Person was granted 6,295 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.
F11On January 7, 2014, the Reporting Person was granted 11,800 performance-based 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.
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 May 28, 2012.
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 22, 2013.
F4Represents 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 22, 2013.
F5Represents 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.
F6Represents 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.
F7On May 28, 2012, the Reporting Person was granted 7,800 restricted stock units, vesting in six equal semi-annual installments beginning on October 1, 2012, subject to the continued employment of the Reporting Person with Issuer.
F8On January 22, 2013, the Reporting Person was granted 15,000 restricted stock units, vesting in six equal semi-annual installments beginning on October 1, 2013, subject to the continued employment of the Reporting Person with Issuer.
F9On January 22, 2013, the Reporting Person was granted 5,250 restricted stock units, vesting in five installments, with one-third vesting on April 1, 2013 and the remaining restricted stock units vesting in four equal semi-annual installments, subject to the continued employment of the Reporting Person with Issuer.