Progress Software EVP converts 4,044 RSUs to shares
Progress Software executive Jarrett Loren reported routine equity compensation activity.
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Form Type
4
Rhea-AI Filing Summary
Progress Software executive Jarrett Loren reported routine equity compensation activity. On April 1, 2026, he exercised and converted a total of 4,044 restricted stock units into an equal number of common shares at a conversion price of $0.00 per share.
To cover related tax obligations at vesting, the company withheld 1,714 common shares at $24.96 per share, recorded as tax-withholding dispositions rather than market sales. After these transactions, Loren directly held 22,016 shares of Progress Software common stock.
Insider Trade Summary
4,044 shares exercised/converted
Exercise
9 txns
Insider
Jarrett Loren
Role
EVP/GM Digital Experience
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,168 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 1,167 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 1,709 | $0.00 | $0.00 |
| Exercise | Common Stock | 1,168 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 495 | $24.96 | $12K |
| Exercise | Common Stock | 1,167 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 495 | $24.96 | $12K |
| Exercise | Common Stock | 1,709 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 724 | $24.96 | $18K |
Holdings After Transaction:
Restricted Stock Units — 9,173 contracts (Direct);
Common Stock — 22,016 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 19, 2023.
- 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 18, 2024.
- 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 23, 2025.
- F5. On January 19, 2023, the Reporting Person was granted 7,003 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, 2023, subject to the continued employment of the Reporting Person with the Company.
- F6. On January 18, 2024, the Reporting Person was granted 7,004 restricted stock units pursuant to 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.
- F7. 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.
Key Figures
RSUs converted: 4,044 shares
Tax-withholding shares: 1,714 shares
Tax-withholding price: $24.96 per share
+4 more
7 metrics
RSUs converted
4,044 shares
Restricted stock units converting one-for-one into common stock on April 1, 2026
Tax-withholding shares
1,714 shares
Common shares withheld to satisfy tax obligations on RSU vesting
Tax-withholding price
$24.96 per share
Value used for common shares withheld for taxes
Post-transaction holdings
22,016 shares
Loren’s direct Progress Software common stock holdings after all April 1, 2026 entries
2023 RSU grant size
7,003 units
Restricted stock units granted January 19, 2023 under the company’s plan
2024 RSU grant size
7,004 units
Restricted stock units granted January 18, 2024, vesting in six semiannual installments
2025 RSU grant size
10,255 units
Restricted stock units granted January 23, 2025, vesting in six semiannual installments
Key Terms
Restricted Stock Units, tax withholding obligations, Exercise or conversion of derivative security, semiannual installments, +1 more
5 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.
tax withholding obligations financial
"Represents shares of common stock withheld ... to pay the tax withholding obligations of the Reporting Person"
Exercise or conversion of derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
semiannual installments financial
"The restricted stock units vest in six equal semiannual installments beginning October 1, 2023"
Stock Option and Incentive Plan financial
"pursuant to the Company's 2008 Stock Option and Incentive Plan (as amended and restated, the "Plan")"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did PRGS executive Jarrett Loren report?
Jarrett Loren exercised and converted 4,044 restricted stock units into common shares. These RSUs vested under Progress Software’s equity plan, resulting in additional stock ownership as part of his compensation rather than an open-market purchase or sale.
Were Jarrett Loren’s PRGS transactions open-market buys or sells?
The reported activity involved RSU conversions and tax-withholding dispositions, not open-market trades. Shares were acquired through vesting of restricted stock units and a portion was withheld by the company to cover taxes, so no market purchases or sales occurred.
What RSU grants underpin Jarrett Loren’s recent PRGS equity transactions?
The transactions relate to RSU grants of 7,003 units from January 19, 2023, 7,004 units from January 18, 2024, and 10,255 units from January 23, 2025. Each grant vests in six equal semiannual installments, subject to Loren’s continued employment.
AI-generated analysis. How Rhea-AI works. Not financial advice.
