SEC Form 4 · accession 0001665328-17-000004
PROGRESS SOFTWARE CORP /MA · PRGS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dimitre Taslakov
Officer — Chief Talent Officer
Period of report
Feb 17, 2017
Accepted (ET)
Feb 22, 2017 · 4:04 pm EST
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 UnitF1 | — | Feb 17, 2017 | A | 7,180 | A | — | — | Common Stock | 7,180 | 7,180 | D |
| Employee Stock OptionsF2 | $29.25 | Feb 17, 2017 | A | 23,490 | A | — | Feb 17, 2024 | Common Stock | 23,490 | 23,490 | D |
| Restricted Stock UnitF3 | — | Feb 17, 2017 | A | 11,966 | A | — | — | Common Stock | 11,966 | 11,966 | D |
Explanation of responses
- F1Represents restricted stock units acquired by the Reporting Person 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 installments beginning on October 1, 2017, subject to the continued employment of the Reporting Person with Progress Software Corporation.
- F2Stock Options vest in eight equal installments beginning on October 1, 2017, subject to the continued employment of the Reporting Person with Progress Software Corporation.
- F3Represents performance-based restricted stock units that vest based on Progress Software Corporation total shareholder return over a three-year period, as will be determined at the first meeting of the Progress Software Corporation's compensation committee following November 30, 2019.