WANG YUFAN STEPHANIE 4

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.