Form Type: 4

SEC EDGAR Link
Accession Number:0000876167-20-000021
Date:2020-01-21
Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
Original Submission Date:

Reporting Person:

JARRETT LOREN
C/O PROGRESS SOFTWARE CORPORATION
14 OAK PARK DR. BEDFORD, MA 01730

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
RESTRICTED STOCK UNITS 0.0 2020-01-21 deemed execution date A 4,453 (a) common stock 4,453 $0.00 4,453 direct
EMPLOYEE STOCK OPTIONS 47.16 2020-01-21 deemed execution date A 13,196 (a) 2027-01-21 common stock 13,196 $47.16 13,196 direct
RESTRICTED STOCK UNITS 0.0 2020-01-21 deemed execution date A 7,422 (a) common stock 7,422 $0.00 7,422 direct
Footnotes
IDfootnote
f1 each restricted stock unit represents a contingent right to receive one share of progress software corporation's (the "company's") common stock.
f2 represents restricted stock units granted to the reporting person pursuant to the company's 2008 stock option and incentive plan. the restricted stock units vest in six equal semiannual installments beginning october 1, 2020, subject to the continued employment of the reporting person with the company.
f3 the stock options vest in eight equal semiannual installments beginning on october 1, 2020, subject to the continued employment of the reporting person with the company.
f4 represents performance-based restricted stock units granted to the reporting person pursuant to the company's 2008 stock option and incentive plan. the restricted stock units vest on february 1, 2023, subject to the company meeting total shareholder return and operating income criteria over the three-year period ending november 30, 2022, and the continued employment of the reporting person with the company.
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