SEC Form 4 · accession 0001619688-16-000009

PROGRESS SOFTWARE CORP /MA · PRGS

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Michael Benedict

Officer — Chief Product Officer

Period of report

Oct 1, 2016

Accepted (ET)

Oct 4, 2016 · 5:03 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,F2	Oct 1, 2016	M	1,049	—	A	38,585	D
Common Stock^F3	Oct 1, 2016	F	348	$27.19	D	38,237	D
Common Stock^F1	Oct 1, 2016	M	905	—	A	39,142	D
Common Stock^F4	Oct 1, 2016	F	300	$27.19	D	388,842	D
Common Stock^F1	Oct 1, 2016	M	1,139	—	A	39,981	D
Common Stock^F5	Oct 1, 2016	F	378	$27.19	D	39,603	D
Common Stock^F1	Oct 1, 2016	M	508	—	A	40,111	D
Common Stock^F6	Oct 1, 2016	F	169	$27.19	D	39,942	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 Units^F1,F7	—	Oct 1, 2016	M	1,049	D	—	—	Common Stock	1,049	1,050	D
Restricted Stock Units^F1,F8	—	Oct 1, 2016	M	905	D	—	—	Common Stock	905	2,715	D
Restricted Stock Units^F1,F9	—	Oct 1, 2016	M	1,139	D	—	—	Common Stock	1,139	4,072	D
Restricted Stock Units^F1,F10	—	Oct 1, 2016	M	508	D	—	—	Common Stock	508	2,542	D

Explanation of responses

F1Restricted stock units convert into common stock on a one-for-one basis.
F10On January 18, 2016, the Reporting Person was granted 3,050 restricted stock units, vesting in six equal semi-annual installments beginning on October 1, 2016, subject to the continued employment of the Reporting Person with Issuer.
F2Includes 700 shares of common stock acquired through the Employee Stock Purchase Plan: 478 shares on March 31, 2016 and 222 shares on June 30, 2016.
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 13, 2014.
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 29, 2015.
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 29, 2015.
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 18, 2016.
F7On 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.
F8On January 29, 2015, the Reporting Person was granted 5,429 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.
F9Represents performance-based restricted stock units acquired by the Reporting Person based on Issuer performance in FY15. Each restricted stock unit vests in five installments, with one-third vesting on April 1, 2016 and the remaining restricted stock units vesting in four equal semi-annual installments, subject to the continued employment of the Reporting Person with Issuer.