Progress Software legal chief receives 3,935 shares
The 1,747 shares withheld covered tax obligations tied to RSU awards granted on January 18, 2024, January 23, 2025, and January 22, 2026.
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Form Type
4
Rhea-AI Filing Summary
Progress Software Chief Legal Officer Yufan Stephanie Wang reported that 3,935 restricted stock units converted into common stock on October 1, 2026. The company withheld 1,747 shares to pay tax obligations upon vesting, at a reported $38.99 per share. The awards vest in six equal semiannual installments, subject to continued employment.
Insider Trade Summary
3,935 shares exercised/converted
Exercise
9 txns
Insider
WANG YUFAN STEPHANIE
Role
Chief Legal Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F1, F5 | 1,038 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F1, F6 | 1,201 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F1, F7 | 1,696 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 1,038 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F2 | 461 | $38.99 | $18K |
| Exercise | Common Stock F1 | 1,201 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F3 | 533 | $38.99 | $21K |
| Exercise | Common Stock F1 | 1,696 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F4 | 753 | $38.99 | $29K |
Holdings After Transaction:
Restricted Stock Units — 13,122 contracts (Direct);
Common Stock — 4,732 shares (Direct)
Footnotes (7)
- F1. Restricted stock units convert into common stock on a one-for-one basis.
- F2. 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 18, 2024.
- 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 23, 2025.
- 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 22, 2026.
- F5. On January 18, 2024, the Reporting Person was granted 6,226 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.
- F6. On January 23, 2025, the Reporting Person was granted 7,207 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.
- F7. On January 22, 2026, the Reporting Person was granted 10,176 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
Common shares acquired upon RSU conversion: 3,935 shares
Shares withheld for tax obligations: 1,747 shares
Reported withholding price: $38.99 per share
3 metrics
Common shares acquired upon RSU conversion
3,935 shares
October 1, 2026
Shares withheld for tax obligations
1,747 shares
October 1, 2026
Reported withholding price
$38.99 per share
Shares withheld on October 1, 2026
Key Terms
Restricted stock units, vesting, tax withholding obligations
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.
vesting financial
"upon the vesting of restricted stock units"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
tax withholding obligations financial
"to pay the tax withholding obligations of the Reporting Person"
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