Progress Software (PRGS) director awarded 5,857 RSUs as 2026 retainer
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Tucci Angela reported acquisition or exercise transactions in this Form 4 filing.
Progress Software director Angela Tucci received an equity award of 5,857 restricted stock units (RSUs) as her fiscal year 2026 retainer for board service. The RSUs were granted at a reference price of $38.42 per unit and will settle one-for-one in common stock.
The units are payable upon vest on the earlier of a change in control of the company or the 2027 Annual Meeting of Stockholders, provided she continues serving on the board until that time. Following this award, her direct holdings total 51,116 shares of Progress Software common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Tucci Angela
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 5,857 | $38.42 | $225K |
Holdings After Transaction:
Common Stock — 51,116 shares (Direct, null)
Footnotes (1)
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Key Figures
RSU grant size: 5,857 units
Grant reference price: $38.42 per share
Post-grant holdings: 51,116 shares
+2 more
5 metrics
RSU grant size
5,857 units
Fiscal year 2026 equity retainer for board service
Grant reference price
$38.42 per share
Price per restricted stock unit at grant
Post-grant holdings
51,116 shares
Common stock directly held after the reported transaction
Vesting trigger date
2027 Annual Meeting
RSUs payable on earlier of change in control or 2027 meeting
Settlement ratio
1 share per unit
RSUs payable on a one-for-one basis in common stock
Key Terms
restricted stock units, equity retainer, Director Compensation Plan, change in control, +1 more
5 terms
restricted stock units financial
"Represents restricted stock units issued to the Reporting Person by Progress Software Corporation"
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.
equity retainer financial
"as the fiscal year 2026 equity retainer for the Reporting Person's services as a director"
Director Compensation Plan financial
"issued in accordance with the Company's Director Compensation Plan pursuant to the Company's 2008 Stock Option and Incentive Plan"
change in control regulatory
"payable upon vest on a one-for-one basis exclusively in common stock on the earlier of a change in control of the Company"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
Annual Meeting of Stockholders regulatory
"or the date of the Company's 2027 Annual Meeting of Stockholders, subject to the Reporting Person's continued service"
FAQ
What insider transaction did Angela Tucci report at Progress Software (PRGS)?
Angela Tucci reported receiving 5,857 restricted stock units from Progress Software as her fiscal 2026 equity retainer for board service. These RSUs will convert into common stock upon vest, subject to specific timing and continued service conditions.
Is Angela Tucci’s Form 4 transaction in PRGS an open-market purchase or a grant?
The Form 4 shows a grant, not an open-market purchase. Tucci received 5,857 restricted stock units as director compensation under Progress Software’s plans, classified as a grant or award acquisition rather than a discretionary buy in the market.
When will Angela Tucci’s 5,857 PRGS restricted stock units be paid out?
The 5,857 restricted stock units are payable upon vest on the earlier of a change in control of Progress Software or the company’s 2027 Annual Meeting of Stockholders, provided Angela Tucci continues to serve on the board until that date.
Under which compensation plans were Angela Tucci’s PRGS restricted stock units granted?
The restricted stock units were issued as the fiscal 2026 equity retainer under Progress Software’s Director Compensation Plan, pursuant to the company’s 2008 Stock Option and Incentive Plan, and will settle in common stock on a one-for-one basis upon vest.