Progress Software legal chief vests RSUs, withholds shares for tax
Progress Software’s Chief Legal Officer, Yufan Stephanie Wang, reported the vesting and conversion of 9,309 performance-based restricted stock units into common stock on February 1, 2026, after three-year return and income criteria were met.
Rhea-AI Filing Summary
Progress Software’s Chief Legal Officer, Yufan Stephanie Wang, reported the vesting and conversion of 9,309 performance-based restricted stock units into common stock on February 1, 2026, after three-year return and income criteria were met. The company withheld 4,221 shares at $40.57 to satisfy tax obligations. Following these transactions, she holds 5,756 shares of common stock directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
9,309 shares exercised/converted
Exercise
3 txns
Insider
WANG YUFAN STEPHANIE
Role
Chief Legal Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 9,309 | $0.00 | $0.00 |
| Exercise | Common Stock | 9,309 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 4,221 | $40.57 | $171K |
Holdings After Transaction:
Restricted Stock Units — 0 contracts (Direct);
Common Stock — 5,756 shares (Direct)
Footnotes (3)
- F1. On January 19, 2023, the Reporting Person was granted 10,699 performance-based restricted stock units pursuant to Progress Software Corporation's (the "Company's") 2008 Stock Option and Incentive Plan and 2022 Long Term Incentive Plan. Based on the Company meeting relative total shareholder return and cumulative operating income criteria over the three-year period ending November 30, 2025, the amount shown is the amount of performance-based restricted stock units that vested under the 2022 Long Term Incentive Plan on February 1, 2026.
- F2. Restricted stock units convert into common stock on a one-for-one basis.
- F3. Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of performance-based restricted stock units granted to the Reporting Person on January 19, 2023.
Key Figures
Performance RSUs granted: 10,699 units
Performance RSUs vested: 9,309 units
Common shares from RSU conversion: 9,309 shares
+4 more
7 metrics
Performance RSUs granted
10,699 units
Performance-based restricted stock units granted on January 19, 2023 under company incentive plans
Performance RSUs vested
9,309 units
Amount of performance-based RSUs that vested on February 1, 2026 after three-year criteria were met
Common shares from RSU conversion
9,309 shares
Restricted stock units convert into common stock on a one-for-one basis at vesting
Shares withheld for taxes
4,221 shares
Common stock withheld by the company to pay tax withholding obligations upon RSU vesting
Tax withholding price
$40.57 per share
Per-share value applied to the 4,221 withheld shares used to satisfy tax obligations
Post-transaction common shares
5,756 shares
Direct common stock holdings of the reporting person after the February 1, 2026 transactions
Performance period end date
November 30, 2025
End of three-year period over which relative total shareholder return and operating income were measured
Key Terms
performance-based restricted stock units, relative total shareholder return, cumulative operating income, tax withholding obligations, +1 more
5 terms
performance-based restricted stock units financial
"the Reporting Person was granted 10,699 performance-based restricted stock units"
Performance-based restricted stock units are a type of employee equity award that converts into company shares only if predefined financial or operational targets are met over a set period. Think of it like a bonus check that becomes stock only when specific goals are hit; it ties pay to results, aligning managers’ incentives with shareholders. Investors care because these awards affect future share count, executive incentives, and signal how management’s success will be measured and rewarded.
cumulative operating income financial
"meeting relative total shareholder return and cumulative operating income criteria over the three-year period"
tax withholding obligations financial
"shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person"
Long Term Incentive Plan financial
"vested under the 2022 Long Term Incentive Plan on February 1, 2026"
A long term incentive plan is a company program that awards executives and key employees bonuses—often in stock, options, or cash—only if the business meets multi-year performance goals. It links management pay to company results—like tying a coach’s bonus to a team’s multi-season record—so investors monitor it for how leaders are motivated, potential share dilution, and signals about the company’s long-term priorities.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did PRGS executive Yufan Stephanie Wang report on February 1, 2026?
Yufan Stephanie Wang reported 9,309 performance-based RSUs vesting and converting into common stock, with 4,221 shares withheld at $40.57 per share for taxes. After these transactions, she directly owns 5,756 Progress Software (PRGS) common shares.
How many Progress Software (PRGS) performance-based RSUs vested for the Chief Legal Officer?
A total of 9,309 performance-based restricted stock units vested for the Chief Legal Officer on February 1, 2026. These units were granted as part of a 10,699-unit award tied to relative total shareholder return and cumulative operating income over a three-year period ending November 30, 2025.
What was the original size of the performance-based RSU grant reported for PRGS’s Chief Legal Officer?
The footnotes state that the reporting person was originally granted 10,699 performance-based restricted stock units on January 19, 2023. Of this grant, 9,309 units vested on February 1, 2026, after Progress Software met specified three-year shareholder return and operating income criteria.
AI-generated analysis. How Rhea-AI works. Not financial advice.
