Transaction Details

Footnotes

Represents deferred stock units issued to the Reporting Person by Progress Software Corporation (the "Company") as the fiscal year 2025 equity retainer for the Reporting Person's services as a director of the Company during such period. These deferred stock units were issued in accordance with the Company's Director Compensation Plan pursuant to the Company's 2008 Stock Option and Incentive Plan and are payable on a one-for-one basis exclusively in common stock on the earlier of a change in control of the Company or the date the Reporting Person terminates service on the board of directors of the Company (the "Board of Directors"). The deferred stock units will vest on the date of the Company's 2026 Annual Meeting of Stockholders, subject to the Reporting Person's continued service on the Board of Directors until such date.