Progress Software (PRGS) director receives 5,857 deferred stock units as 2026 retainer
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
DACIER PAUL T reported acquisition or exercise transactions in this Form 4 filing.
Progress Software director Paul T. Dacier received an equity award of 5,857 deferred stock units of common stock. The units were granted as his fiscal 2026 equity retainer under the company’s Director Compensation Plan at a reference price of $38.42 per share. The deferred stock units will vest on the date of the company’s 2027 Annual Meeting of Stockholders, as long as he continues serving on the board until then. They are payable one-for-one in common stock upon the earlier of a change in control of the company or when he leaves the board. Following this grant, Dacier directly holds 58,691 shares and deferred stock units in total.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
DACIER PAUL T
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 5,857 | $38.42 | $225K |
Holdings After Transaction:
Common Stock — 58,691 shares (Direct, null)
Footnotes (1)
- [object Object]
Key Figures
Deferred stock units granted: 5,857 units
Reference price per unit: $38.42 per share
Holdings after transaction: 58,691 shares/units
+1 more
4 metrics
Deferred stock units granted
5,857 units
Fiscal 2026 equity retainer grant to director Paul T. Dacier
Reference price per unit
$38.42 per share
Reporting price for 5,857 deferred stock units
Holdings after transaction
58,691 shares/units
Total direct holdings following the award
Vesting date
2027 Annual Meeting
Units vest at Progress Software’s 2027 Annual Meeting of Stockholders
Key Terms
deferred stock units, Director Compensation Plan, 2008 Stock Option and Incentive Plan, change in control, +1 more
5 terms
deferred stock units financial
"Represents deferred stock units issued to the Reporting Person by Progress Software Corporation"
Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.
Director Compensation Plan financial
"issued in accordance with the Company's Director Compensation Plan pursuant to the Company's 2008 Stock Option"
2008 Stock Option and Incentive Plan financial
"Director Compensation Plan pursuant to the Company's 2008 Stock Option and Incentive Plan"
change in control financial
"payable 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 financial
"The deferred stock units will vest on the date of the Company's 2027 Annual Meeting of Stockholders"
FAQ
What did Progress Software (PRGS) director Paul T. Dacier report in this Form 4?
Director Paul T. Dacier reported receiving 5,857 deferred stock units of Progress Software common stock. The award represents his fiscal 2026 equity retainer for board service and increases his direct holdings to 58,691 shares and units after the transaction.
When do Paul T. Dacier’s new Progress Software deferred stock units vest?
The 5,857 deferred stock units will vest on the date of Progress Software’s 2027 Annual Meeting of Stockholders. Vesting is contingent on Dacier’s continued service on the board of directors through that meeting date, according to the company’s equity compensation arrangements.
When will the new PRGS deferred stock units be settled into common stock?
The deferred stock units are payable one-for-one in Progress Software common stock. Settlement will occur on the earlier of a change in control of the company or the date Paul T. Dacier’s service on the board of directors ends, consistent with the plan terms.
What are Paul T. Dacier’s total Progress Software holdings after this Form 4 transaction?
After the grant of 5,857 deferred stock units, Paul T. Dacier holds 58,691 shares and deferred stock units of Progress Software common stock directly. This total reflects his position following the reported award and is disclosed as of the transaction date in the Form 4.
How was the reference value of the PRGS deferred stock unit award determined?
The filing lists a transaction price of $38.42 per share for the 5,857 deferred stock units. This amount functions as the grant’s reference price for reporting, even though the units are a compensation award and not an open-market purchase of Progress Software shares.