Progress Software: LoCoco receives 2,900 shares
The reported vesting includes tranches from three awards, alongside company withholding of shares for tax obligations.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
Progress Software (PRGS) Chief Accounting Officer Domenic LoCoco reported the vesting of 2,900 restricted stock units, which converted one-for-one into common stock on October 1, 2026. The shares came from awards granted in 2024, 2025 and 2026, with 807, 924 and 1,169 shares, respectively. The company withheld 853 common shares to pay tax withholding obligations upon vesting; the reported price was $38.99 per share.
Insider Trade Summary
2,900 shares exercised/converted
Exercise
9 txns
Insider
LoCoco Domenic
Role
Chief Accounting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F1, F6 | 807 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F1, F7 | 924 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F1, F8 | 1,169 | $0.00 | $0.00 |
| Exercise | Common Stock F1, F2 | 807 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F3 | 237 | $38.99 | $9K |
| Exercise | Common Stock F1 | 924 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F4 | 272 | $38.99 | $11K |
| Exercise | Common Stock F1 | 1,169 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F5 | 344 | $38.99 | $13K |
Holdings After Transaction:
Restricted Stock Units — 9,428 contracts (Direct);
Common Stock — 12,496 shares (Direct)
Footnotes (8)
- F1. Restricted stock units convert into common stock on a one-for-one basis.
- F2. Includes 563 shares and 29 shares of common stock acquired by the Reporting Person on March 31, 2026, and June 30, 2026, respectively, through Progress Software Corporation's (the "Company") Employee Stock Purchase Plan.
- F3. 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.
- F4. 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.
- F5. 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 22, 2026.
- F6. On January 18, 2024, the Reporting Person was granted 4,842 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, 2024, subject to the continued employment of the Reporting Person with the Company.
- F7. On January 23, 2025, the Reporting Person was granted 5,544 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.
- F8. On January 22, 2026, the Reporting Person was granted 7,018 restricted stock units pursuant to the Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2026, subject to the continued employment of the Reporting Person with the Company.
Key Figures
Restricted stock units converted: 2,900 shares
Shares withheld for tax obligations: 853 shares
Shares from 2024 award: 807 shares
+3 more
6 metrics
Restricted stock units converted
2,900 shares
Converted one-for-one into common stock on October 1, 2026
Shares withheld for tax obligations
853 shares
Withheld upon vesting on October 1, 2026
Shares from 2024 award
807 shares
Award granted January 18, 2024; shares vested October 1, 2026
Shares from 2025 award
924 shares
Award granted January 23, 2025; shares vested October 1, 2026
Shares from 2026 award
1,169 shares
Award granted January 22, 2026; shares vested October 1, 2026
Reported withholding price
$38.99 per share
Each reported withholding entry dated October 1, 2026
Key Terms
Restricted stock units, Employee Stock Purchase Plan, semiannual installments
3 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.
Employee Stock Purchase Plan financial
"Employee Stock Purchase Plan"
An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.
semiannual installments financial
"six equal semiannual installments"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
AI-generated analysis. How Rhea-AI works. Not financial advice.
