WANG YUFAN STEPHANIE 4

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.