Progress Software (NASDAQ: PRGS) EVP exercises options and sells 23,194 shares

Rhea-AI Filing Summary

PROGRESS SOFTWARE CORP /MA EVP Sundar Subramanian reported option exercises and share sales in PRGS stock. On March 10–11, 2026, he exercised stock options for a total of 4,020 shares of common stock at an exercise price of $38.06 per share. He then sold 23,194 shares of common stock in open‑market transactions at weighted average prices around $37.48–$38.28, executed in multiple trades within stated price ranges under a preexisting Rule 10b5‑1 trading plan adopted on October 27, 2025. After these transactions, he directly holds 15,542 shares of Progress Software common stock.

Insights

Equity compensation and insider-trading analyst

Preplanned option exercise-and-sell; routine, mixed signal with remaining stake.

EVP Sundar Subramanian exercised 4,020 employee stock options at an exercise price of $38.06 per share and sold 23,194 common shares in open‑market trades. The transactions combine derivative exercises with net share sales, so the overall direction is mixed rather than purely bullish or bearish.

Footnotes state the sales were made under a preexisting Rule 10b5‑1 trading plan adopted on October 27, 2025. Such plans pre‑schedule trades, which typically makes the timing less informative about short‑term views on Progress Software’s prospects.

Following these trades, Subramanian directly holds 15,542 common shares. The filing does not show any remaining derivative positions, indicating these particular options were fully exercised. Future company filings may provide additional context on any new grants or subsequent trading activity.

Insider Trade Summary 10b5-1

Net Seller: 23,194 shares ($874,260)

Net Sell 7 txns

Insider Subramanian Sundar

Role EVP/GM Infrastructure Mgmt

Sold 23,194 shs ($874K)

Type	Security	Shares	Price	Value
Exercise	Employee Stock Options (Right to buy)	1,600	$0.00	--
Exercise	Common Stock	1,600	$38.06	$61K
Sale	Common Stock	1,600	$38.28	$61K
Exercise	Employee Stock Options (Right to buy)	2,420	$0.00	--
Exercise	Common Stock	2,420	$38.06	$92K
Sale	Common Stock	16,427	$37.48	$616K
Sale	Common Stock	5,167	$38.19	$197K

Holdings After Transaction: Employee Stock Options (Right to buy) — 10,597 shares (Direct); Common Stock — 17,142 shares (Direct)

Footnotes (1)

1. The sale reported in this Form 4 was effected pursuant to a preexisting Rule 10b5-1 trading plan adopted by the Reporting Person on October 27, 2025, prior to the recent volatility in Progress Software Corporation's (the "Company's") stock price and in compliance with all applicable laws and regulations. The sale is reported on two rows due to being executed in multiple trades across a price range that exceeded $1. This tranche of the sale was executed in multiple trades at prices ranging from $36.87 to $37.86 per share. The price reported represents the weighted average sale price of these trades. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price. This tranche of the sale was executed in multiple trades at prices ranging from $37.87 to $38.26 per share. The price reported represents the weighted average sale price of these trades. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price. This tranche of the sale was executed in multiple trades at prices ranging from $38.18 to $38.51 per share. The price reported represents the weighted average sale price of these trades. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price. Options were granted to the Reporting Person on September 30, 2019 under the Company's 2008 Stock Option and Incentive Plan (the "Plan"). As of October 1, 2023, 14,617 options were vested and exercisable.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Subramanian Sundar

(Last) (First) (Middle)

C/O PROGRESS SOFTWARE CORPORATION

15 WAYSIDE ROAD, SUITE 400

(Street)

BURLINGTON MA 01803

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PROGRESS SOFTWARE CORP /MA [ PRGS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP/GM Infrastructure Mgmt

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/10/2026		M		2,420	A	$38.06	37,136	D
Common Stock	03/10/2026		S(1)		16,427	D	$37.48(2)	20,709	D
Common Stock	03/10/2026		S(1)		5,167	D	$38.19(3)	15,542	D
Common Stock	03/11/2026		M		1,600	A	$38.06	17,142	D
Common Stock	03/11/2026		S(1)		1,600	D	$38.28(4)	15,542	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Options (Right to buy)	$38.06	03/10/2026		M			2,420	(5)	09/29/2026	Common Stock	2,420	$0	12,197	D
Employee Stock Options (Right to buy)	$38.06	03/11/2026		M			1,600	(5)	09/29/2026	Common Stock	1,600	$0	10,597	D

Explanation of Responses:

1. The sale reported in this Form 4 was effected pursuant to a preexisting Rule 10b5-1 trading plan adopted by the Reporting Person on October 27, 2025, prior to the recent volatility in Progress Software Corporation's (the "Company's") stock price and in compliance with all applicable laws and regulations. The sale is reported on two rows due to being executed in multiple trades across a price range that exceeded $1.

2. This tranche of the sale was executed in multiple trades at prices ranging from $36.87 to $37.86 per share. The price reported represents the weighted average sale price of these trades. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price.

3. This tranche of the sale was executed in multiple trades at prices ranging from $37.87 to $38.26 per share. The price reported represents the weighted average sale price of these trades. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price.

4. This tranche of the sale was executed in multiple trades at prices ranging from $38.18 to $38.51 per share. The price reported represents the weighted average sale price of these trades. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price.

5. Options were granted to the Reporting Person on September 30, 2019 under the Company's 2008 Stock Option and Incentive Plan (the "Plan"). As of October 1, 2023, 14,617 options were vested and exercisable.

Remarks:

	Anthony Folger, Attorney-in-Fact	03/12/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transactions did PRGS executive Sundar Subramanian report?

Sundar Subramanian reported exercising 4,020 employee stock options at $38.06 per share and selling 23,194 shares of Progress Software common stock in open‑market transactions across March 10–11, 2026, according to the Form 4 filing.

At what prices did Sundar Subramanian sell PRGS shares?

He sold Progress Software common stock at weighted average prices around $37.48–$38.28 per share. Footnotes explain these sales were executed in multiple trades within stated price ranges, with detailed trade‑level information available upon request.

Were Sundar Subramanian’s PRGS stock sales preplanned under a Rule 10b5-1 plan?

Yes. The Form 4 states the sales were made under a preexisting Rule 10b5‑1 trading plan adopted on October 27, 2025. Such plans schedule transactions in advance, reducing the significance of short‑term market timing.

How many PRGS shares does Sundar Subramanian hold after these transactions?

After completing the reported option exercises and share sales, Sundar Subramanian directly holds 15,542 shares of Progress Software common stock. This figure reflects his position immediately following the March 10–11, 2026 transactions disclosed in the Form 4.

What type of derivative securities did Sundar Subramanian exercise in PRGS?

He exercised employee stock options granted under Progress Software’s equity plan. The options covered 4,020 underlying shares of common stock and had an exercise price of $38.06 per share, with prior vesting and exercisability disclosed in the accompanying footnote.

Does the Form 4 show any remaining stock options for Sundar Subramanian at PRGS?

The filing’s derivative section shows exercises of employee stock options totaling 4,020 shares and no remaining derivative positions listed afterward. This indicates those specific options were fully exercised in the reported transactions.