Progress Software (PRGS) director receives 5,857 deferred stock units as 2026 retainer
Rhea-AI Filing Summary
VITALE VIVIAN M reported acquisition or exercise transactions in this Form 4 filing.
PROGRESS SOFTWARE CORP /MA director Vivian M. Vitale received an equity award of 5,857 deferred stock units of common stock as part of her fiscal 2026 director retainer. The award is valued at $38.42 per unit and increases her direct holdings to 36,224 shares.
The deferred stock units were granted under the company’s Director Compensation Plan pursuant to its 2008 Stock Option and Incentive Plan. They vest on the date of the company’s 2027 Annual Meeting of Stockholders, contingent on her continued board service, and are payable one-for-one in common stock upon either a change in control or when she leaves the board.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 5,857 shares
Net Buy
1 txn
Insider
VITALE VIVIAN M
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 5,857 | $38.42 | $225K |
Holdings After Transaction:
Common Stock — 36,224 shares (Direct)
Footnotes (1)
- F1. Represents deferred 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 deferred 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 on a one-for-one basis exclusively in common stock on the earlier of a change in control of the Company or the date the Reporting Person terminates service on the board of directors of the Company (the "Board of Directors"). The deferred stock units will vest on the date of the Company's 2027 Annual Meeting of Stockholders, subject to the Reporting Person's continued service on the Board of Directors until such date.
Key Figures
Deferred stock units granted: 5,857 units
Grant value per unit: $38.42 per unit
Total shares after grant: 36,224 shares
+2 more
5 metrics
Deferred stock units granted
5,857 units
Fiscal year 2026 equity retainer grant
Grant value per unit
$38.42 per unit
Reported transaction price for deferred stock unit grant
Total shares after grant
36,224 shares
Direct holdings following the reported transaction
Vesting date
2027 Annual Meeting
Units vest on the date of the 2027 Annual Meeting of Stockholders
Payout trigger
Change in control or board departure
Units payable in common stock on a one-for-one basis at earliest of these events
Key Terms
deferred stock units, equity retainer, Director Compensation Plan, 2008 Stock Option and Incentive Plan, +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.
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..."
2008 Stock Option and Incentive Plan financial
"pursuant to the Company's 2008 Stock Option and Incentive Plan and are payable on a one-for-one basis..."
change in control regulatory
"payable... on the earlier of a change in control of the Company or the date the Reporting Person terminates service..."
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
What did PRGS director Vivian M. Vitale report on this Form 4?
Vivian M. Vitale reported receiving 5,857 deferred stock units of Progress Software common stock as part of her fiscal 2026 equity retainer. The units are a compensation grant for her board service, not an open-market share purchase or sale.
What are the terms of the 5,857 deferred stock units granted by PRGS?
The 5,857 deferred stock units are issued as the fiscal 2026 equity retainer for Vitale’s board service. They vest on the date of Progress Software’s 2027 Annual Meeting of Stockholders, subject to her continued service, and are paid in common stock upon a change in control or board departure.
Is the PRGS Form 4 transaction a stock purchase or a compensation award?
The transaction is a compensation award, not a stock purchase. Progress Software granted deferred stock units to Vivian M. Vitale under its Director Compensation Plan and 2008 Stock Option and Incentive Plan as her fiscal 2026 equity retainer for serving on the board.
At what value were the 5,857 PRGS deferred stock units granted?
The 5,857 deferred stock units were granted at a reference value of $38.42 per unit. This per-unit value appears in the Form 4 as the transaction price, reflecting the notional grant value used for the equity retainer compensation calculation.
AI-generated analysis. How Rhea-AI works. Not financial advice.
