Jarrett Loren 4

What Happened

• Jarrett Loren, EVP/GM Digital Experience at Progress Software (PRGS), had restricted stock units (RSUs) convert into 4,044 shares of common stock on April 1, 2026 (three separate conversions of 1,168; 1,167; and 1,709 shares). The conversions show an exercise/conversion price of $0.00 because these were RSUs converting one-for-one into common stock.
• To satisfy tax withholding obligations, the company withheld 1,714 shares (495; 495; and 724) at an indicated per-share value of $24.96, totaling about $42,781. This is a routine tax-withholding transaction, not an open-market sale.

Key Details

• Transaction date: April 1, 2026; filing date: April 3, 2026 (timely).
• RSUs converted: 4,044 shares (1,168 + 1,167 + 1,709) at $0.00 exercise/conversion price.
• Shares withheld for taxes: 1,714 shares (495 + 495 + 724) at $24.96 each; total withholding value ~$42,781.
• Net new shares added to Loren’s holdings from these conversions: 4,044 − 1,714 = 2,330 shares (shares owned after transaction not specified in the provided filing excerpt).
• Transaction codes: M = exercise/conversion of derivative (RSU conversion); F = payment of tax liability via share withholding.
• Footnotes: RSUs were granted under the company’s plan on Jan 19, 2023; Jan 18, 2024; and Jan 23, 2025, with vesting schedules noted in the filing.

Context

• This was not an open-market sale or purchase signal. The conversions are standard RSU vesting events and the share disposals are company-withheld shares to cover tax obligations (a cashless-type settlement).
• For retail investors: routine tax-withholding following vesting is common and should not be interpreted as a deliberate insider sale of shares to realize gains.