Sec Form 4 Filing - Sweis Faris @ PROGRESS SOFTWARE CORP /MA - 2019-04-01

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Sweis Faris
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)
Senior Vice President
(Last) (First) (Middle)
C/O PROGRESS SOFTWARE CORPORATION, 14 OAK PARK DR.
3. Date of Earliest Transaction (MM/DD/YY)
04/01/2019
(Street)
BEDFORD, MA01730
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 04/01/2019 M 350 A $ 0 ( 1 ) 43,202 D
Common Stock 04/01/2019 F 83 ( 2 ) D $ 44.566 43,119 D
Common Stock 04/01/2019 M 87 A $ 0 ( 1 ) 43,206 D
Common Stock 04/01/2019 F 22 ( 3 ) D $ 44.566 43,184 D
Common Stock 04/01/2019 M 336 A $ 0 ( 1 ) 43,520 D
Common Stock 04/01/2019 F 82 ( 4 ) D $ 44.566 43,438 D
Common Stock 04/01/2019 M 126 A $ 0 ( 1 ) 43,564 D
Common Stock 04/01/2019 F 31 ( 5 ) D $ 44.566 43,533 D
Common Stock 04/01/2019 M 1,197 A $ 0 ( 1 ) 44,730 D
Common Stock 04/01/2019 F 292 ( 6 ) D $ 44.566 44,438 D
Common Stock 04/01/2019 M 690 A $ 0 ( 1 ) 45,128 D
Common Stock 04/01/2019 F 169 ( 7 ) D $ 44.566 44,959 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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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 of Derivative Security: 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 ) 04/01/2019 M 350 ( 8 ) ( 8 ) Common Stock 350 $ 0 0 D
Restricted Stock Units ( 1 ) 04/01/2019 M 87 ( 9 ) ( 9 ) Common Stock 87 $ 0 0 D
Restricted Stock Units ( 1 ) 04/01/2019 M 336 ( 10 ) ( 10 ) Common Stock 336 $ 0 337 D
Restricted Stock Units ( 1 ) 04/01/2019 M 126 ( 11 ) ( 11 ) Common Stock 126 $ 0 0 D
Restricted Stock Units ( 1 ) 04/01/2019 M 1,197 ( 12 ) ( 12 ) Common Stock 1,197 $ 0 2,394 D
Restricted Stock Units ( 1 ) 04/01/2019 M 690 ( 13 ) ( 13 ) Common Stock 690 $ 0 2,763 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Sweis Faris
C/O PROGRESS SOFTWARE CORPORATION
14 OAK PARK DR.
BEDFORD, MA01730
Senior Vice President
Signatures
Stephen H. Faberman, Attorney-in-Fact 04/03/2019
Signature of Reporting Person Date
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 18, 2016.
( 3 )Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of performance-based restricted stock units granted to the Reporting Person on January 18, 2016
( 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 July 1, 2016.
( 5 )Represents shares of common stock withheld by the Company to pay the tax withholding obligations of the Reporting Person upon the vesting of performance-based restricted stock units granted to the Reporting Person on July 1, 2016.
( 6 )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 February 17, 2017.
( 7 )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 12, 2018.
( 8 )On January 18, 2016, the Reporting Person was granted 2,097 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2016, subject to the continued employment of the Reporting Person with the Company.
( 9 )On January 18, 2016, the Reporting Person was granted 2,097 performance-based restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. One-third of the restricted stock units vest beginning April 1, 2017 and the remaining restricted stock units vest in four equal semiannual installments beginning October 1, 2017, subject to the Company meeting earnings per share criteria for the fiscal year ending November 30, 2016, and the continued employment of the Reporting Person with the Company.
( 10 )On July 1, 2016, the Reporting Person was granted 2,017 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning April 1, 2017, subject to the continued employment of the Reporting Person with the Company.
( 11 )On July 1, 2016, the Reporting Person was granted 3,025 performance-based restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. One-third of the restricted stock units vest beginning April 1, 2017 and the remaining restricted stock units vest in four equal semiannual installments beginning October 1, 2017, subject to the Company meeting earnings per share criteria for the fiscal year ending November 30, 2016, and the continued employment of the Reporting Person with the Company
( 12 )On February 17, 2017, the Reporting Person was granted 7,180 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2017, subject to the continued employment of the Reporting Person with the Company.
( 13 )On January 12, 2018, the Reporting Person was granted 4,143 restricted stock units pursuant to the Company's 2008 Stock Option and Incentive Plan. The restricted stock units vest in six equal semiannual installments beginning October 1, 2018, subject to the continued employment of the Reporting Person with the Company.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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