Stephen H. Faberman - 20 Jan 2022 Form 4 Insider Report for PROGRESS SOFTWARE CORP /MA (PRGS)

Role: Chief Legal Officer
Signature: Stephen H. Faberman
Issuer symbol: PRGS
Transactions as of: 20 Jan 2022
Transactions value $: $0
Form type: 4
Filing time: 24 Jan 2022, 16:01:49
Previous filing: 05 Oct 2021
Next filing: 03 Feb 2022
SEC: View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PRGS	Restricted Stock Units	Award	$0	+5.62K		$0.00	5.62K	20 Jan 2022	Common Stock	5.62K		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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 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, 2025, subject to the Company meeting total shareholder return and operating income criteria over the three-year period ending November 30, 2024, and the continued employment of the Reporting Person with the Company.

Content

Each restricted stock unit represents a contingent right to receive one share of Progress Software Corporation's (the "Company's") common stock.

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, 2025, subject to the Company meeting total shareholder return and operating income criteria over the three-year period ending November 30, 2024, and the continued employment of the Reporting Person with the Company.