[Form 4] Progress Software Corp (DE) Insider Trading Activity

Rhea-AI Filing Summary

Monopar Therapeutics (MNPR) – Form 4 insider transaction filed for Chief Operating Officer Andrew Cittadine covering activity on 30 June 2025.

• 6,863 common shares were issued to Cittadine upon the vesting of Restricted Stock Units (RSUs) granted on 2 Feb 2022, 1 Feb 2023 and 4 Mar 2025.
• 2,990 shares were withheld for taxes (transaction code “F”), leaving a net 3,873 new shares.
• Cittadine’s direct common-stock holding after the transactions is 45,858 shares; he also retains 43,001 unvested RSUs.
• No open-market purchases or sales occurred; all activity relates to automatic RSU settlement (transaction code “M”).

The filing indicates a routine equity-compensation event rather than a discretionary purchase. While the COO’s ownership stake increases modestly, the economic outlay is zero; therefore, the signal for outside investors is generally neutral.

Positive

• COO’s direct ownership increased, modestly reinforcing management-shareholder alignment.

Negative

• Shares were acquired via vesting, not open-market purchase, so the transaction conveys limited confidence signal.

Insights

Financial Analyst

TL;DR: Routine RSU vesting—neutral cash-less insider acquisition, minor ownership increase.

The 6,863-share issuance stems from pre-scheduled RSU tranches. Net of tax withholding, Cittadine adds 3,873 shares, taking his direct stake to 45,858 (≈0.4 % of ~11 m shares outstanding). The insider neither paid cash nor sold shares, limiting signaling value. The remaining 43,001 RSUs provide further equity alignment but already factored into fully-diluted share count. Overall impact on valuation, liquidity, or float is immaterial; I classify as neutral.

Corporate Governance Expert

TL;DR: Equity compensation schedule functioning as designed; governance implications minimal.

The staggered 48-month RSU schedules (2022–2028) support retention of key executives and align incentives without immediate cash cost. Transaction codes “M” and “F” confirm automatic settlement and tax withholding compliance. No 10b5-1 plan is referenced, but the absence of discretionary trades limits potential conflicts. Because the event is routine and disclosed timely, governance risk remains low; therefore, I assign a neutral impact.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Subramanian Sundar

(Last) (First) (Middle)

C/O PROGRESS SOFTWARE CORPORATION

15 WAYSIDE ROAD, SUITE 400

(Street)

BURLINGTON MA 01803

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PROGRESS SOFTWARE CORP /MA [ PRGS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP/GM Infrastructure Mgmt

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/01/2025		S(1)		501	D	$60.3	28,169(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The trading activity reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on July 24, 2024.

2. Includes 382 shares of common stock, par value $0.01 per share, of Progress Software Corporation (the "Company"), acquired by the Reporting Person on March 31, 2025 through the Company's Employee Stock Purchase Plan.

Remarks:

	YuFan Stephanie Wang, Attorney-in-Fact	07/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many MNPR shares did COO Andrew Cittadine acquire on 30 June 2025?

He received 6,863 common shares upon RSU vesting.

What is Cittadine’s total direct MNPR shareholding after the Form 4 transactions?

His direct holding is 45,858 shares of common stock.

Were any shares sold on the open market?

No. All activity relates to automatic RSU settlement; there were no open-market sales or purchases.

How many unvested RSUs does Cittadine still hold?

He retains 43,001 Restricted Stock Units scheduled to vest through 31 Dec 2028.

Did the insider pay cash to acquire these shares?

No cash was paid; shares were issued upon vesting, with 2,990 shares withheld to cover taxes.

Is this Form 4 filing considered material for MNPR investors?

The filing reflects routine compensation vesting; it is generally viewed as not materially impactful to MNPR’s valuation.