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. Q1 2026: $30M, Q3 2025: $14M, Q2 2025: $50M, Q1 2025: $22M

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

Latest quarter $30M vs trailing avg $29M (+4%)

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

Buyback $117M / FCF $108M = 108% of FCF

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

Repurchased 3,900,000 shares = 9.2% of 42,335,700 outstanding (annualized)

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

3 open-market purchases by 3 insiders

• Gawlick Rainer () bought 1,710 shares at $43.48 on 2025-08-12
• Gupta Yogesh K (Chief Executive Officer) bought 2,100 shares at $49.14 on 2025-07-23
• KRALL DAVID () bought 5,125 shares at $48.90 on 2025-07-23

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.

Company buybacks in 4 quarters and 3 insider purchases by 3 insiders (no calendar overlap, but both independently active)

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 9.5x more than bought. 3 C-suite officers among sellers

• 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
• FOLGER ANTHONY (Chief Financial Officer) sold 3,718 shares on 2025-07-08
• FOLGER ANTHONY (Chief Financial Officer) sold 1,811 shares on 2025-07-08
• Pitt Ian (Chief Information Officer) sold 2,186 shares on 2025-06-30