Progress Software (PRGS) Executive RSU Vesting and Tax Withholding Reported
Rhea-AI Filing Summary
Jarrett Loren, Executive Vice President and General Manager, Digital Experience at Progress Software Corporation (PRGS), reported multiple restricted stock unit vesting and related share-withholding transactions on 10/01/2025. Several tranches of RSUs vested and converted one-for-one into common stock, resulting in reported acquisitions of 1,167, 1,167 and 1,709 shares and contemporaneous share withholdings to satisfy tax obligations of 565, 565 and 827 shares at a price of $44.21.
The filing shows remaining unvested RSU award schedules: 7,003 units (granted 1/19/2023), 7,004 units (granted 1/18/2024) and 10,255 units (granted 1/23/2025), each vesting in six equal semiannual installments beginning on the indicated October 1 start dates. Post-transaction beneficial ownership counts are reported on the form per line items.
Positive
- Scheduled RSU vesting completed on 10/01/2025, converting restricted stock units into common stock
- Large remaining RSU awards (totaling 24,262 units granted across 2023–2025) maintain executive alignment with shareholders
Negative
- None.
Insights
Insider received scheduled RSU vesting and settled tax withholdings on 10/01/2025.
The report documents routine vesting: RSUs converted one-for-one into 1,167 and 1,709 shares across three grants. These are part of multi-year awards of 7,003, 7,004, and 10,255 units that vest in six semiannual installments beginning on listed October 1 dates.
Tax withholding used share-for-share withholding: 565, 565, and 827 shares withheld at an indicated price of $44.21, reducing net new shares issued to the reporting person.
Transactions are routine, indicating executive compensation delivery rather than material corporate events.
The Form 4 shows no sales to third parties beyond tax-withholding dispositions and no exercise of option-driven cash proceeds; beneficial ownership adjustments reflect vesting schedules rather than changes in control or unusual trading.
If investors monitor insider alignment, the continuing unvested RSU schedules (7,003, 7,004, 10,255) show ongoing deferred compensation tied to future service.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,167 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,167 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,709 | $0.00 | -- |
| Exercise | Common Stock | 1,167 | $0.00 | -- |
| Tax Withholding | Common Stock | 565 | $44.21 | $25K |
| Exercise | Common Stock | 1,167 | $0.00 | -- |
| Tax Withholding | Common Stock | 565 | $44.21 | $25K |
| Exercise | Common Stock | 1,709 | $0.00 | -- |
| Tax Withholding | Common Stock | 827 | $44.21 | $37K |
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 7,003 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 7,004 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 10,255 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.
