WANG YUFAN STEPHANIE 4
4 · PROGRESS SOFTWARE CORP /MA · Filed Feb 3, 2026
Research Summary
AI-generated summary of this filing
Progress Software (PRGS) CLO Stephanie Wang Receives Vested RSUs
What Happened
Stephanie (Yufan) Wang, Chief Legal Officer of Progress Software (PRGS), had 9,309 performance-based restricted stock units (RSUs) vest on Feb 1, 2026. The RSUs converted one-for-one into common shares; the company withheld 4,221 shares to cover tax withholding obligations (reported value $40.57/share, $171,246 withheld). Net shares delivered to Ms. Wang were 5,088 shares (approx. $206,418 based on the reported $40.57/share).
Key Details
- Transaction date: February 1, 2026; Form filed Feb 3, 2026. No late‑filing indicator shown.
- Reported transactions:
- Exercise/conversion of derivative (M): 9,309 RSUs converted to 9,309 common shares @ $0.00 (acquired).
- Tax withholding (F): 4,221 shares withheld/disposed @ $40.57 = $171,246.
- A corresponding derivative conversion/disposition line also appears for 9,309 shares (reporting of the RSU conversion).
- Shares owned after transaction: not specified in the provided filing.
- Footnotes: Vesting reflects performance-based RSUs granted Jan 19, 2023; RSUs convert 1:1 to common stock; withheld shares were used to satisfy tax obligations.
Context
- This was a vesting of performance-based RSUs (award), not an open-market purchase or sale. The withholding of shares to cover taxes is a routine, non-market disposition (similar to a cashless tax withholding).
- For retail investors, receipt of vested RSUs is neither a clear bullish nor bearish signal by itself — it reflects compensation and previously awarded equity realized by the insider.
Insider Transaction Report
Form 4
WANG YUFAN STEPHANIE
Chief Legal Officer
Transactions
- Exercise/Conversion
Common Stock
[F1][F2]2026-02-01+9,309→ 9,977 total - Tax Payment
Common Stock
[F3]2026-02-01$40.57/sh−4,221$171,246→ 5,756 total - Exercise/Conversion
Restricted Stock Units
[F2][F1]2026-02-01−9,309→ 0 total→ Common Stock (9,309 underlying)
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.
Signature
YuFan Stephanie Wang|2026-02-03