Progress Software (PRGS) EVP gains 4,044 shares via RSU vesting and tax withholding

Rhea-AI Filing Summary

Progress Software executive Jarrett Loren reported routine equity compensation activity. On April 1, 2026, he exercised and converted a total of 4,044 restricted stock units into an equal number of common shares at a conversion price of $0.00 per share.

To cover related tax obligations at vesting, the company withheld 1,714 common shares at $24.96 per share, recorded as tax-withholding dispositions rather than market sales. After these transactions, Loren directly held 22,016 shares of Progress Software common stock.

Insider Trade Summary

4,044 shares exercised/converted

Mixed 9 txns

Insider Jarrett Loren

Role EVP/GM Digital Experience

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,168	$0.00	--
Exercise	Restricted Stock Units	1,167	$0.00	--
Exercise	Restricted Stock Units	1,709	$0.00	--
Exercise	Common Stock	1,168	$0.00	--
Tax Withholding	Common Stock	495	$24.96	$12K
Exercise	Common Stock	1,167	$0.00	--
Tax Withholding	Common Stock	495	$24.96	$12K
Exercise	Common Stock	1,709	$0.00	--
Tax Withholding	Common Stock	724	$24.96	$18K

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct); Common Stock — 20,854 shares (Direct)

Footnotes (1)

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 7,003 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 7,004 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 10,255 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

RSUs converted: 4,044 shares Tax-withholding shares: 1,714 shares Tax-withholding price: $24.96 per share +4 more

7 metrics

RSUs converted 4,044 shares Restricted stock units converting one-for-one into common stock on April 1, 2026

Tax-withholding shares 1,714 shares Common shares withheld to satisfy tax obligations on RSU vesting

Tax-withholding price $24.96 per share Value used for common shares withheld for taxes

Post-transaction holdings 22,016 shares Loren’s direct Progress Software common stock holdings after all April 1, 2026 entries

2023 RSU grant size 7,003 units Restricted stock units granted January 19, 2023 under the company’s plan

2024 RSU grant size 7,004 units Restricted stock units granted January 18, 2024, vesting in six semiannual installments

2025 RSU grant size 10,255 units Restricted stock units granted January 23, 2025, vesting in six semiannual installments

Key Terms

Restricted Stock Units, tax withholding obligations, Exercise or conversion of derivative security, 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"

Exercise or conversion of derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

semiannual installments financial

"The restricted stock units vest in six equal semiannual installments beginning October 1, 2023"

Stock Option and Incentive Plan financial

"pursuant to the Company's 2008 Stock Option and Incentive Plan (as amended and restated, the "Plan")"

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).

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^*

Jarrett Loren

(Last) (First) (Middle)

C/O PROGRESS SOFTWARE CORPORATION

15 WAYSIDE ROAD, SUITE 400

(Street)

BURLINGTON MASSACHUSETTS 01803

(City) (State) (Zip)

UNITED STATES

(Country)

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 Digital Experience

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

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

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

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

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	04/01/2026		M		1,168	A	$0(1)	20,854	D
Common Stock	04/01/2026		F		495(2)	D	$24.96	20,359	D
Common Stock	04/01/2026		M		1,167	A	$0(1)	21,526	D
Common Stock	04/01/2026		F		495(3)	D	$24.96	21,031	D
Common Stock	04/01/2026		M		1,709	A	$0(1)	22,740	D
Common Stock	04/01/2026		F		724(4)	D	$24.96	22,016	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
Restricted Stock Units	(1)	04/01/2026		M			1,168	(5)	(5)	Common Stock	1,168	$0	0	D
Restricted Stock Units	(1)	04/01/2026		M			1,167	(6)	(6)	Common Stock	1,167	$0	2,336	D
Restricted Stock Units	(1)	04/01/2026		M			1,709	(7)	(7)	Common Stock	1,709	$0	6,837	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. 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.

3. 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.

4. 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.

5. On January 19, 2023, the Reporting Person was granted 7,003 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.

6. On January 18, 2024, the Reporting Person was granted 7,004 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.

7. On January 23, 2025, the Reporting Person was granted 10,255 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.

Remarks:

	YuFan Stephanie Wang, Attorney-in-Fact	04/03/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did PRGS executive Jarrett Loren report?

Jarrett Loren exercised and converted 4,044 restricted stock units into common shares. These RSUs vested under Progress Software’s equity plan, resulting in additional stock ownership as part of his compensation rather than an open-market purchase or sale.

How many PRGS shares did Jarrett Loren receive and how many were withheld for taxes?

Loren received 4,044 common shares from vested restricted stock units. To pay tax withholding obligations tied to these vestings, Progress Software withheld 1,714 common shares, treating them as share-based tax payments instead of open-market sales.

What price was used for the PRGS tax-withholding share dispositions?

The tax-withholding dispositions were recorded at a price of $24.96 per share. This value applies to 1,714 common shares withheld by Progress Software to satisfy Loren’s tax obligations related to the vesting of multiple restricted stock unit grants.

How many PRGS shares does Jarrett Loren own after these transactions?

Following the RSU conversions and related tax-withholding share dispositions, Loren directly holds 22,016 shares of Progress Software common stock. This figure reflects his updated position after all April 1, 2026 equity compensation-related entries reported in the Form 4.

Were Jarrett Loren’s PRGS transactions open-market buys or sells?

The reported activity involved RSU conversions and tax-withholding dispositions, not open-market trades. Shares were acquired through vesting of restricted stock units and a portion was withheld by the company to cover taxes, so no market purchases or sales occurred.

What RSU grants underpin Jarrett Loren’s recent PRGS equity transactions?

The transactions relate to RSU grants of 7,003 units from January 19, 2023, 7,004 units from January 18, 2024, and 10,255 units from January 23, 2025. Each grant vests in six equal semiannual installments, subject to Loren’s continued employment.