Kane Charles Francis 4

What Happened

• Kane Charles Francis, a director of Progress Software Corporation (PRGS), was granted 5,857 restricted stock units (RSUs) on 2026-07-02.
• The RSUs were recorded at $38.42 each, for a total grant value of $225,026. This transaction is coded as an award/grant (A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-07-02; Filing date (Form 4): 2026-07-06. The filing appears timely given the July 3 holiday and the SEC’s two-business-day rule.
• Grant price per share: $38.42; total value: $225,026.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnote: The RSUs are the director’s FY2026 equity retainer, issued under the Company’s Director Compensation Plan and 2008 Stock Option and Incentive Plan. They convert one-for-one into common stock on the earlier of a change in control or the Company’s 2027 Annual Meeting, subject to continued board service.

Context

• This was a compensation award (RSUs) for board service, not a market purchase or sale; such grants are routine director compensation and do not necessarily signal the insider’s view of the stock.
• The award vests in the future (or on a change in control) and will convert to shares only if vesting conditions are met.