Progress Software EVP receives 5,099 vested shares

Q: How many PRGS shares were withheld for taxes?

Progress Software withheld 2,263 common shares to pay tax withholding obligations on October 1, 2026. The reported withholding entries were 519, 758, and 986 shares, each at $38.99 per share.

Three award tranches vested, while 2,263 common shares were withheld for tax obligations.

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Rhea-AI Filing Summary

Progress Software EVP/GM Infrastructure Mgmt Sundar Subramanian had 5,099 restricted stock units vest on October 1, 2026, converting one-for-one into common stock. The shares came from awards granted January 18, 2024 (1,168 shares), January 23, 2025 (1,709 shares), and January 22, 2026 (2,222 shares). Progress Software withheld 2,263 common shares to pay tax withholding obligations: 519, 758, and 986 shares, respectively, at a reported $38.99 per share.

Insider Trade Summary

5,099 shares exercised/converted

Exercise 9 txns

Insider Subramanian Sundar

Role EVP/GM Infrastructure Mgmt

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units ^{F1, F5}	1,168	$0.00	$0.00
Exercise	Restricted Stock Units ^{F1, F6}	1,709	$0.00	$0.00
Exercise	Restricted Stock Units ^{F1, F7}	2,222	$0.00	$0.00
Exercise	Common Stock ^F1	1,168	$0.00	$0.00
Tax Withholding	Common Stock ^F2	519	$38.99	$20K
Exercise	Common Stock ^F1	1,709	$0.00	$0.00
Tax Withholding	Common Stock ^F3	758	$38.99	$30K
Exercise	Common Stock ^F1	2,222	$0.00	$0.00
Tax Withholding	Common Stock ^F4	986	$38.99	$38K

Holdings After Transaction: Restricted Stock Units — 17,408 contracts (Direct); Common Stock — 21,206 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 7,004 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 10,255 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 13,334 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 from vested RSUs: 5,099 shares Shares withheld for tax obligations: 2,263 shares Vested shares from January 18, 2024 award: 1,168 shares +3 more

6 metrics

Common shares from vested RSUs 5,099 shares October 1, 2026

Shares withheld for tax obligations 2,263 shares October 1, 2026

Vested shares from January 18, 2024 award 1,168 shares October 1, 2026

Vested shares from January 23, 2025 award 1,709 shares October 1, 2026

Vested shares from January 22, 2026 award 2,222 shares October 1, 2026

Reported withholding price $38.99 per share Three tax-withholding entries dated October 1, 2026

Key Terms

Restricted Stock Units, one-for-one basis, tax withholding obligations, semiannual installments

4 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.

one-for-one basis technical

"convert into common stock on a one-for-one basis"

tax withholding obligations financial

"to pay the tax withholding obligations of the Reporting Person"

semiannual installments financial

"vest in six equal semiannual installments beginning October 1, 2026"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did PRGS EVP/GM Infrastructure Mgmt Sundar Subramanian acquire when RSUs vested?

On October 1, 2026, Sundar Subramanian's restricted stock units converted into 5,099 common shares on a one-for-one basis, in three vesting amounts of 1,168, 1,709, and 2,222 shares.

How many PRGS shares were withheld for taxes?

Progress Software withheld 2,263 common shares to pay tax withholding obligations on October 1, 2026. The reported withholding entries were 519, 758, and 986 shares, each at $38.99 per share.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/05/2026 - 04:09 PM Accepted by SEC EDGAR 10/05/2026 - 04:09 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Subramanian Sundar

(Last)

(First)

(Middle)

C/O PROGRESS SOFTWARE CORPORATION

15 WAYSIDE ROAD, SUITE 400

(Street)

BURLINGTON

MASSACHUSETTS

01803

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
PROGRESS SOFTWARE CORP /MA [ PRGS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP/GM Infrastructure Mgmt

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	10/01/2026		M		1,168	A	$0⁽¹⁾	19,538	D
Common Stock	10/01/2026		F		519⁽²⁾	D	$38.99	19,019	D
Common Stock	10/01/2026		M		1,709	A	$0⁽¹⁾	20,728	D
Common Stock	10/01/2026		F		758⁽³⁾	D	$38.99	19,970	D
Common Stock	10/01/2026		M		2,222	A	$0⁽¹⁾	22,192	D
Common Stock	10/01/2026		F		986⁽⁴⁾	D	$38.99	21,206	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽¹⁾	10/01/2026		M			1,168	⁽⁵⁾	⁽⁵⁾	Common Stock	1,168	$0	1,168	D
Restricted Stock Units	⁽¹⁾	10/01/2026		M			1,709	⁽⁶⁾	⁽⁶⁾	Common Stock	1,709	$0	5,128	D
Restricted Stock Units	⁽¹⁾	10/01/2026		M			2,222	⁽⁷⁾	⁽⁷⁾	Common Stock	2,222	$0	11,112	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. 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.

3. 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.

4. 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.

5. On January 18, 2024, the Reporting Person was granted 7,004 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.

6. On January 23, 2025, the Reporting Person was granted 10,255 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.

7. On January 22, 2026, the Reporting Person was granted 13,334 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.

Remarks:

	YuFan Stephanie Wang, Attorney-in-Fact	10/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR