Progress Software director receives 5,857 RSU grant
Progress Software director John R. Egan reported an equity grant of 5,857 restricted stock units of common stock.
Rhea-AI Filing Summary
Progress Software director John R. Egan reported an equity grant of 5,857 restricted stock units of common stock. The award represents his fiscal year 2026 equity retainer for board service and was issued under Progress Software’s Director Compensation Plan and 2008 Stock Option and Incentive Plan.
The restricted stock units will convert into an equal number of common shares on the earlier of a change in control of the company or the date of the 2027 Annual Meeting of Stockholders, if he continues serving as a director through that time. After this grant, Egan directly holds 57,174 shares of Progress Software common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 5,857 shares
Grant/Award
1 txn
Insider
EGAN JOHN R
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 5,857 | $38.42 | $225K |
Holdings After Transaction:
Common Stock — 57,174 shares (Direct)
Footnotes (1)
- F1. Represents restricted stock units issued to the Reporting Person by Progress Software Corporation (the "Company") as the fiscal year 2026 equity retainer for the Reporting Person's services as a director of the Company during such period. These restricted stock units were issued in accordance with the Company's Director Compensation Plan pursuant to the Company's 2008 Stock Option and Incentive Plan and are payable upon vest on a one-for-one basis exclusively in common stock on the earlier of a change in control of the Company or the date of the Company's 2027 Annual Meeting of Stockholders, subject to the Reporting Person's continued service on the board of directors of the Company until such date.
Key Figures
RSU grant size: 5,857 units
Grant reference price: $38.42 per share
Shares held after grant: 57,174 shares
+1 more
4 metrics
RSU grant size
5,857 units
Fiscal year 2026 equity retainer grant
Grant reference price
$38.42 per share
Value per unit noted for the 5,857-unit grant
Shares held after grant
57,174 shares
Total common stock directly owned following the transaction
Vesting event
Change in control or 2027 meeting
RSUs payable on earlier of change in control or 2027 Annual Meeting
Key Terms
restricted stock units, equity retainer, Director Compensation Plan, 2008 Stock Option and Incentive Plan, +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
"These restricted stock units were issued in accordance with the Company's Director Compensation Plan"
2008 Stock Option and Incentive Plan financial
"pursuant to the Company's 2008 Stock Option and Incentive Plan"
change in control financial
"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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Progress Software (PRGS) director John R. Egan report on this Form 4?
John R. Egan reported receiving 5,857 restricted stock units of Progress Software common stock as an equity grant. The award serves as his fiscal year 2026 equity retainer for board service under the company’s Director Compensation Plan and 2008 Stock Option and Incentive Plan.
When will John R. Egan’s new Progress Software (PRGS) restricted stock units vest?
The restricted stock units will be paid in common stock on the earlier of a change in control of Progress Software or the company’s 2027 Annual Meeting. Vesting is also conditioned on Egan’s continued service on the board until that date is reached.
What is the purpose of John R. Egan’s 5,857 restricted stock unit award from Progress Software (PRGS)?
The 5,857 restricted stock units represent John R. Egan’s fiscal year 2026 equity retainer for serving as a director. They were granted under Progress Software’s Director Compensation Plan pursuant to its 2008 Stock Option and Incentive Plan as part of standard board compensation.
Is John R. Egan’s Form 4 transaction in Progress Software (PRGS) an open-market stock purchase or sale?
The transaction is not an open-market trade; it is a grant of 5,857 restricted stock units as compensation. The filing classifies it as a grant or award acquisition, with units converting into common shares upon vesting under specified conditions, rather than a market purchase or sale.
AI-generated analysis. How Rhea-AI works. Not financial advice.
