WANG YUFAN STEPHANIE 4
4 · PROGRESS SOFTWARE CORP /MA · Filed Apr 3, 2026
Research Summary
AI-generated summary of this filing
Progress Software (PRGS) Chief Legal Officer Receives 3,309 Awarded Shares
What Happened
Stephanie Wang (Chief Legal Officer) had restricted stock units (RSUs) convert into 3,309 shares of Progress Software common stock on April 1, 2026 (three separate vesting/conversion events). The company withheld 1,502 of those shares to satisfy tax withholding obligations at $24.96 per share (total withheld value $37,490). Net newly received shares after withholding: 1,807. These were vesting/settlement transactions (code M = exercise/conversion of derivative; code F = shares withheld for taxes), not an open-market purchase or discretionary sale.
Key Details
- Transaction date: April 1, 2026; Form 4 filed April 3, 2026 (timely filing).
- Conversion detail: 1,070 + 1,038 + 1,201 = 3,309 shares acquired via RSU conversion (reported at $0 acquisition price).
- Withholding detail: 486 + 471 + 545 = 1,502 shares withheld at $24.96 each; total value withheld ≈ $37,490.
- Net shares added to insider’s holdings from this vesting: 1,807 shares. Total post-transaction holdings not specified in the filing.
- Footnotes: these shares come from RSU grants made on Jan 19, 2023; Jan 18, 2024; and Jan 23, 2025, each granted under the company’s 2008 Plan and vesting in scheduled semiannual installments. F-codes represent share-withholding to cover tax obligations.
Context
This was a routine RSU vesting and share-withholding (often called “sell-to-cover” or share settlement) transaction. The insider did not buy shares with cash nor sell shares in the open market as part of this filing—rather, vested awards were converted to common stock and the company withheld shares to pay taxes. Such vesting transactions reflect compensation and tax mechanics rather than a direct bullish or bearish signal.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-04-01+1,070→ 6,826 total - Tax Payment
Common Stock
[F2]2026-04-01$24.96/sh−486$12,131→ 6,340 total - Exercise/Conversion
Common Stock
[F1]2026-04-01+1,038→ 7,378 total - Tax Payment
Common Stock
[F3]2026-04-01$24.96/sh−471$11,756→ 6,907 total - Exercise/Conversion
Common Stock
[F1]2026-04-01+1,201→ 8,108 total - Tax Payment
Common Stock
[F4]2026-04-01$24.96/sh−545$13,603→ 7,563 total - Exercise/Conversion
Restricted Stock Units
[F1][F5]2026-04-01−1,070→ 0 total→ Common Stock (1,070 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F6]2026-04-01−1,038→ 2,076 total→ Common Stock (1,038 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F7]2026-04-01−1,201→ 4,805 total→ Common Stock (1,201 underlying)
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 6,419 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 6,226 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 7,207 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.