WANG YUFAN STEPHANIE 4

What Happened

• Stephanie Wang, Chief Legal Officer of Progress Software (PRGS), sold a total of 5,019 shares in open-market transactions on May 18, 2026, receiving aggregate proceeds of $144,852. The sale was split into two reported tranches: 1,500 shares at a weighted average price of $28.44 (proceeds $42,660) and 3,519 shares at a weighted average price of $29.04 (proceeds $102,192). This was a sale (not a purchase) and appears to be routine disposition under a pre-established plan.

Key Details

• Transaction date: May 18, 2026 (reported on Form 4 filed May 20, 2026; filing appears timely).
• Reported tranches and price details:
  • 1,500 shares — weighted average $28.44; tranche executed across prices $27.83–$28.77 (footnote F2).
  • 3,519 shares — weighted average $29.04; tranche executed across prices $28.84–$29.21 (footnote F3).
• Total shares sold: 5,019; total proceeds: $144,852.
• Shares owned after the transaction: not disclosed in the filing.
• Notable footnotes: sale was effected pursuant to a preexisting Rule 10b5-1 trading plan adopted Jan 23, 2026; reported on two rows because execution occurred in multiple trades across a >$1 price range (footnotes F1–F3). The reporting person offers to provide per-trade price details upon request.

Context

• A Rule 10b5-1 plan allows insiders to prearrange trades and is commonly used to avoid trading on nonpublic information; such sales are often routine and do not necessarily signal a change in the insider’s view of the company. For retail investors, purchases tend to be more informative about insider confidence than routine sales executed under 10b5-1 plans.