LoCoco Domenic 4

What Happened

• Domenic LoCoco, Chief Accounting Officer of Progress Software Corporation (PRGS), was granted 7,018 restricted stock units (RSUs) on January 22, 2026. The Form 4 reports an acquisition at $0.00 because this is an equity award (derivative), not an open-market purchase. Each RSU represents a contingent right to one share of common stock.

Key Details

• Transaction date: 2026-01-22; filing date (Form 4): 2026-01-26 (filed timely).
• Amount granted: 7,018 RSUs; reported acquisition price: $0.00 (award).
• Vesting: RSUs vest in six equal semiannual installments beginning October 1, 2026 (i.e., over three years), subject to continued employment (per footnotes).
• Shares owned after transaction: not provided in the information supplied.
• Footnotes: F1 confirms each RSU converts to one common share upon vesting; F2 describes the grant under the company’s 2008 Stock Option and Incentive Plan and the vesting schedule.

Context

• RSU grants are typical compensation for executives and are not the same as purchases or sales—value is realized only when RSUs vest and are settled (usually as shares or cash). This award signals standard equity compensation rather than an open-market insider purchase or sale.