Jarrett Loren 4

What Happened
Jarrett Loren, EVP & GM Digital Experience at Progress Software (PRGS), had 10,154 performance-based restricted stock units (RSUs) vest and convert into common shares on February 1, 2026. The RSUs converted one-for-one into 10,154 shares (exercise/conversion code M, $0.00 exercise price). To satisfy tax-withholding obligations, the company withheld 4,301 of those shares at $40.57 each, totaling $174,492 (code F). Net shares delivered to Loren after withholding were 5,853.

Key Details

• Transaction date: February 1, 2026; Form 4 filed February 3, 2026 (within the typical two-business-day reporting window).
• Vesting/conversion: 10,154 performance RSUs converted to 10,154 common shares (exercise/conversion, code M).
• Tax withholding: 4,301 shares withheld at $40.57/share to cover taxes = $174,492 (code F).
• Net shares received by insider: 5,853 shares (10,154 converted minus 4,301 withheld).
• Footnotes: RSUs were granted Jan 19, 2023 under Progress’s plans and vested based on relative total shareholder return and cumulative operating income over the three-year period ending Nov 30, 2025 (F1). RSUs convert one-for-one to common stock (F2). Withholding represents shares withheld to pay tax obligations on vesting (F3).
• Shares owned after transaction: Not specified in the provided Form 4 excerpt.

Context
This was not a market purchase or open-market sale but a performance-based equity award vesting and conversion, with shares withheld to cover taxes (a common, administrative action). Such vesting events reflect compensation becoming exercisable/issued rather than a directional insider bet on the stock.