PRGS PROGRESS SOFTWARE CORP /MA

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 4/4 quarters. Q2 2026: $20M, Q1 2026: $30M, Q3 2025: $14M, Q2 2025: $50M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $20M vs trailing avg $31M (-36%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Buyback $114M / FCF $80M = 144% of FCF

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 4,400,000 shares = 10.4% of 42,335,700 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

No insider open-market purchases in the last 12 months

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Need both buyback and insider purchase data

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $1M in the last 90 days (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 2680378.2x more than bought. 3 C-suite officers among sellers

• FOLGER ANTHONY (Chief Financial Officer) sold 4,074 shares on 2026-05-19
• FOLGER ANTHONY (Chief Financial Officer) sold 400 shares on 2026-05-19
• WANG YUFAN STEPHANIE (Chief Legal Officer) sold 1,500 shares on 2026-05-18
• WANG YUFAN STEPHANIE (Chief Legal Officer) sold 3,519 shares on 2026-05-18
• FOLGER ANTHONY (Chief Financial Officer) sold 5,184 shares on 2026-02-03
• FOLGER ANTHONY (Chief Financial Officer) sold 816 shares on 2026-02-03
• Pitt Ian (Chief Information Officer) sold 409 shares on 2025-10-06
• WANG YUFAN STEPHANIE (Chief Legal Officer) sold 1,428 shares on 2025-10-03
• FOLGER ANTHONY (Chief Financial Officer) sold 5,374 shares on 2025-10-03
• FOLGER ANTHONY (Chief Financial Officer) sold 100 shares on 2025-10-03