Progress Software (PRGS) EVP sells 10,597 shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Progress Software executive Sundar Subramanian reported an exercise-and-sale transaction in company stock. On July 1, 2026, he exercised employee stock options to acquire 10,597 shares of common stock at $38.06 per share, then sold 10,597 shares in open-market trades at a weighted average price of $38.27 per share under a preexisting Rule 10b5-1 trading plan.
Following these transactions, he holds 18,370 shares of Progress Software common stock directly, including 579 shares acquired on March 31, 2026 through the company’s Employee Stock Purchase Plan. The options exercised were granted on September 30, 2019 and this tranche is now fully exercised.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 10,597 shares ($405,547)
Net Sell
3 txns
Insider
Subramanian Sundar
Role
EVP/GM Infrastructure Mgmt
Sold
10,597 shs ($406K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Options (Right to buy) | 10,597 | $0.00 | -- |
| Exercise | Common Stock | 10,597 | $38.06 | $403K |
| Sale | Common Stock | 10,597 | $38.27 | $406K |
Holdings After Transaction:
Employee Stock Options (Right to buy) — 0 shares (Direct, null);
Common Stock — 28,967 shares (Direct, null)
Footnotes (1)
- Includes 579 shares of Progress Software Corporation's (the "Company") common stock, par value $0.01 per share ("Common Stock"), acquired by the Reporting Person on March 31, 2026, through the Company's Employee Stock Purchase Plan. The sale reported in this Form 4 was effected pursuant to a preexisting Rule 10b5-1 trading plan adopted by the Reporting Person on October 27, 2025, prior to the recent volatility in the price of the Company's Common Stock, and in compliance with all applicable laws and regulations. This tranche of the sale was executed in multiple trades at prices ranging from $38.16 to $38.49 per share. The price reported represents the weighted average sale price of these trades. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price. Options were granted to the Reporting Person on September 30, 2019, under the Company's 2008 Stock Option and Incentive Plan (the "Plan"). As of October 1, 2023, 14,617 options were vested and exercisable.
Key Figures
Shares sold: 10,597 shares
Sale price: $38.27 per share
Options exercised: 10,597 options
+4 more
7 metrics
Shares sold
10,597 shares
Common stock sold in open market on July 1, 2026
Sale price
$38.27 per share
Weighted average sale price for 10,597 shares
Options exercised
10,597 options
Employee stock options converted into common shares
Exercise price
$38.06 per share
Exercise price for options granted September 30, 2019
Shares held after
18,370 shares
Direct common stock holdings following transactions
ESPP shares
579 shares
Acquired March 31, 2026 via Employee Stock Purchase Plan
Option grant vesting
14,617 options vested
Vested and exercisable as of October 1, 2023 from 2019 grant
Key Terms
Rule 10b5-1 trading plan, Employee Stock Purchase Plan, Employee Stock Options (Right to buy), derivative security, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"The sale reported in this Form 4 was effected pursuant to a preexisting Rule 10b5-1 trading plan adopted by the Reporting Person"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
Employee Stock Purchase Plan financial
"Includes 579 shares ... acquired by the Reporting Person on March 31, 2026, through the Company's 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.
Employee Stock Options (Right to buy) financial
"Employee Stock Options (Right to buy)"
derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
Stock Option and Incentive Plan financial
"Options were granted ... under the Company's 2008 Stock Option and Incentive Plan"
FAQ
What insider transaction did Progress Software (PRGS) report for Sundar Subramanian?
Progress Software reported that EVP/GM Infrastructure Management Sundar Subramanian exercised 10,597 stock options and sold 10,597 common shares. The sale was executed in open-market trades at a weighted average price of $38.27 per share under a preexisting Rule 10b5-1 trading plan.
Was the Progress Software (PRGS) insider sale by Sundar Subramanian preplanned?
Yes. The Form 4 states the sale was executed under a preexisting Rule 10b5-1 trading plan adopted on October 27, 2025. Such plans schedule trades in advance, providing a structured method for insiders to sell shares while complying with securities regulations.
What does the Form 4 reveal about Sundar Subramanian’s Progress Software stock options?
The Form 4 notes options granted on September 30, 2019 under the 2008 Stock Option and Incentive Plan. As of October 1, 2023, 14,617 options were vested and exercisable, and this reported exercise of 10,597 options reduces that grant, with this exercised tranche now fully used.