Transaction Details

Footnotes

This Form 4 is being filed to report the exercise of stock options for a total of 19,231 shares, of which (i) 13,315 shares owned by the Reporting Person were exchanged to cover the cost of the option exercise, and (ii) 2,624 shares owned by the Reporting Person were withheld by Progress Software Corporation (the "Company") to pay the tax withholding obligations of the Reporting Person upon exercise of the stock options. As a result of this exercise, the Reporting Person acquired ownership of 3,292 shares of common stock. | Options were granted to the Reporting Person on January 22, 2019 under the Company's 2008 Stock Option and Incentive Plan. As of April 1, 2023, 19,231 options were vested and exercisable.