Progress Software (PRGS) CFO boosts stake after RSU vesting, tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Progress Software Chief Financial Officer Anthony Folger reported routine equity compensation activity. On April 1, 2026, restricted stock units converted into 8,042 shares of common stock, reflecting scheduled vesting grants from prior years under the company’s stock plan.
To cover related tax obligations, a total of 3,568 common shares were withheld by the company at $24.96 per share instead of being sold in the market. After these vesting and tax-withholding entries, Folger directly holds 53,276 shares of Progress Software common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
8,042 shares exercised/converted
Mixed
9 txns
Insider
FOLGER ANTHONY
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 2,529 | $0.00 | -- |
| Exercise | Restricted Stock Units | 2,464 | $0.00 | -- |
| Exercise | Restricted Stock Units | 3,049 | $0.00 | -- |
| Exercise | Common Stock | 2,529 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,122 | $24.96 | $28K |
| Exercise | Common Stock | 2,464 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,093 | $24.96 | $27K |
| Exercise | Common Stock | 3,049 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,353 | $24.96 | $34K |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock — 51,331 shares (Direct)
Footnotes (1)
- Restricted stock units convert into common stock on a one-for-one basis. Represents shares of common stock withheld by Progress Software Corporation (the "Company") to pay the tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 19, 2023. Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 18, 2024. Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 23, 2025. On January 19, 2023, the Reporting Person was granted 15,173 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan (as amended and restated, the "Plan"). The restricted stock units vest in six equal semiannual installments beginning October 1, 2023, subject to the continued employment of the Reporting Person with the Company. On January 18, 2024, the Reporting Person was granted 14,785 restricted stock units pursuant to the Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2024, subject to the continued employment of the Reporting Person with the Company. On January 23, 2025, the Reporting Person was granted 18,293 restricted stock units pursuant to the Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2025, subject to the continued employment of the Reporting Person with the Company.
Key Figures
RSUs converted to common stock: 8,042 shares
Shares withheld for taxes: 3,568 shares
Tax withholding price: $24.96 per share
+4 more
7 metrics
RSUs converted to common stock
8,042 shares
Restricted stock units converting on April 1, 2026
Shares withheld for taxes
3,568 shares
Tax withholding on RSU vesting at $24.96 per share
Tax withholding price
$24.96 per share
Value used for common shares withheld to cover taxes
Post-transaction holdings
53,276 shares
Common stock directly held by CFO after transactions
2023 RSU grant size
15,173 units
Granted January 19, 2023 under the 2008 Plan
2024 RSU grant size
14,785 units
Granted January 18, 2024 under the 2008 Plan
2025 RSU grant size
18,293 units
Granted January 23, 2025 under the 2008 Plan
Key Terms
Restricted Stock Units, tax withholding obligations, 2008 Stock Option and Incentive Plan, semiannual installments, +1 more
5 terms
Restricted Stock Units financial
"Restricted stock units convert into common stock on a one-for-one basis."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax withholding obligations financial
"Represents shares of common stock withheld by Progress Software Corporation to pay the tax withholding obligations"
2008 Stock Option and Incentive Plan financial
"granted 15,173 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan"
semiannual installments financial
"The restricted stock units vest in six equal semiannual installments beginning October 1"
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
FAQ
What did Progress Software (PRGS) CFO Anthony Folger report in this Form 4?
Anthony Folger reported routine equity compensation activity involving restricted stock units converting into common shares. The filing reflects scheduled vesting and related tax withholding, not open-market purchases or sales, and updates his directly held Progress Software share count following these transactions.
What grants underlie the vested restricted stock units reported by Progress Software (PRGS) CFO?
The vested restricted stock units come from grants made on January 19, 2023, January 18, 2024, and January 23, 2025. Each grant vests in six equal semiannual installments beginning the October following grant, contingent on the CFO’s continued employment.