Progress Software: chief legal officer Stephanie Wang Yufan exercised 3,935 shares

What happened

• Stephanie Wang Yufan, chief legal officer, converted a total of 3,935 restricted stock units into common stock on Oct 1, 2026 (1,038 + 1,201 + 1,696 shares) at an exercise/conversion price of $0.00.
• The company withheld 1,747 shares (461 + 533 + 753) to satisfy tax withholding obligations, generating $68,115 in cash proceeds (shares withheld at $38.99).

Key details

• Transaction date: Oct 1, 2026. Form 4 filed on Oct 5, 2026.
• Prices: conversion/exercise price $0.00 per share; tax withholding share price $38.99 per share.
• Shares acquired by conversion: 3,935. Shares disposed/withheld to cover taxes: 1,747 for $68,115.
• Shares owned after the transaction: not stated in the filing.
• Footnotes: RSUs convert one-for-one into common stock. Withheld shares represent tax withholding for RSUs granted Jan 18, 2024; Jan 23, 2025; and Jan 22, 2026. Grants vest in six equal semiannual installments beginning Oct 1 of the years noted in the footnotes.

Why it may matter

• The filing shows conversion of restricted stock units and company withholding of shares to cover tax obligations (a cashless-type settlement for the withholding portion).
• The filing does not show why the insider traded or why the company acted.