Progress Software (PRGS) CEO nets new shares after RSU vesting and tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Progress Software Chief Executive Officer Yogesh K. Gupta reported the vesting of restricted stock units and related tax withholding. On April 1, 2026, he exercised restricted stock units that converted into 22,473 shares of common stock, in line with prior equity awards under the company’s stock plan.
To cover tax obligations on these vestings, the company withheld a total of 10,868 shares of common stock at $24.96 per share, recorded as tax-withholding dispositions rather than market sales. After these transactions, Gupta directly held 286,198 shares of Progress Software common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
22,473 shares exercised/converted
Mixed
9 txns
Insider
Gupta Yogesh K
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 6,809 | $0.00 | -- |
| Exercise | Restricted Stock Units | 7,349 | $0.00 | -- |
| Exercise | Restricted Stock Units | 8,315 | $0.00 | -- |
| Exercise | Common Stock | 6,809 | $0.00 | -- |
| Tax Withholding | Common Stock | 3,293 | $24.96 | $82K |
| Exercise | Common Stock | 7,349 | $0.00 | -- |
| Tax Withholding | Common Stock | 3,554 | $24.96 | $89K |
| Exercise | Common Stock | 8,315 | $0.00 | -- |
| Tax Withholding | Common Stock | 4,021 | $24.96 | $100K |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock — 281,402 shares (Direct)
Footnotes (1)
- Restricted stock units convert into common stock on a one-for-one basis. Represents shares of common stock withheld by Progress Software Corporation (the "Company") to pay the tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 19, 2023. Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 18, 2024. Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 23, 2025. On January 19, 2023, the Reporting Person was granted 40,849 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan (as amended and restated, the "Plan"). The restricted stock units vest in six equal semiannual installments beginning October 1, 2023, subject to the continued employment of the Reporting Person with the Company. On January 18, 2024, the Reporting Person was granted 44,059 restricted stock units pursuant to the Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2024, subject to the continued employment of the Reporting Person with the Company. On January 23, 2025, the Reporting Person was granted 49,890 restricted stock units pursuant to the Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2025, subject to the continued employment of the Reporting Person with the Company.
Key Figures
RSU shares vested: 22,473 shares
Shares withheld for taxes: 10,868 shares
Tax withholding price: $24.96 per share
+4 more
7 metrics
RSU shares vested
22,473 shares
Restricted stock units converting into common stock on April 1, 2026
Shares withheld for taxes
10,868 shares
Tax-withholding dispositions at vesting on April 1, 2026
Tax withholding price
$24.96 per share
Value used for F-code tax-withholding transactions
Shares held after transactions
286,198 shares
Direct PRGS common stock holdings following April 1, 2026 activity
2023 RSU grant size
40,849 units
Granted January 19, 2023 under the 2008 Stock Option and Incentive Plan
2024 RSU grant size
44,059 units
Granted January 18, 2024 under the stock plan
2025 RSU grant size
49,890 units
Granted January 23, 2025 under the stock plan
Key Terms
Restricted Stock Units, tax withholding obligations, 2008 Stock Option and Incentive Plan, semiannual installments, +1 more
5 terms
Restricted Stock Units financial
"Restricted stock units convert into common stock on a one-for-one basis."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax withholding obligations financial
"Represents shares of common stock withheld ... to pay the tax withholding obligations of the Reporting Person"
2008 Stock Option and Incentive Plan financial
"granted 40,849 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan"
semiannual installments financial
"The restricted stock units vest in six equal semiannual installments beginning October 1, 2023"
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
FAQ
What insider transactions did PRGS CEO Yogesh Gupta report on April 1, 2026?
Yogesh Gupta reported vesting of restricted stock units that converted into 22,473 shares of Progress Software common stock. These equity awards stem from prior grants under the company’s stock plan and represent routine compensation-related transactions rather than open-market purchases or sales.
What restricted stock unit grants underlie the April 2026 PRGS Form 4?
The reported vesting relates to restricted stock units granted on January 19, 2023, January 18, 2024, and January 23, 2025 under Progress Software’s 2008 Stock Option and Incentive Plan. Each grant vests in six equal semiannual installments, conditioned on Gupta’s continued employment.
Are the April 2026 PRGS insider transactions open-market sales or routine tax events?
The April 2026 Form 4 shows routine compensation events, not open-market sales. Shares were acquired through restricted stock unit vesting, while tax-withholding dispositions, coded “F,” represent shares returned to the company at $24.96 per share solely to pay tax liabilities.