Subramanian Sundar

Subramanian Sundar, EVP and General Manager of Infrastructure Management at Progress Software (PRGS), has been a consistent seller of company stock over the past year, with no open-market purchases recorded in his 44 total Form 4 filings. His aggregate sell value stands at roughly $2.32 million, all in PRGS, while his buy value is zero. The most recent activity, spanning January through July 2026, shows six open-market sales (code S) totaling approximately $1.34 million, including a $615,684 sale on March 10, 2026, a $197,328 sale the same day, and a $405,547 sale on July 1, 2026. These sales were paired with option exercises (code M) of equal or near-equal value—for instance, the July 1 sale of $405,547 coincided with an exercise worth $403,322—suggesting a pattern of exercising vested options and immediately liquidating the shares. The transaction mix also includes routine, non-discretionary items: shares withheld for tax obligations (code F) appeared regularly, such as $182,727 on February 1, 2026, and $360,148 on February 1, 2025, alongside zero-value grants (code A) on January 22, 2026. These are compensation-related and automatic, not indicative of trading conviction. The overall bias is clearly toward selling, but the structure—sales tightly coupled with option exercises and tax withholdings—points to a systematic approach to monetizing equity compensation rather than a concentrated bet against the stock. Notably, there are no purchases (code P) in the entire filing history, underscoring that Sundar’s activity is entirely on the disposition side, with the largest single transaction being the March 10, 2026 sale of over $615,000.