Progress Software Management

Management criteria checks 2/4

Progress Software's CEO is Yogesh Gupta, appointed in Oct 2016, has a tenure of 7.92 years. total yearly compensation is $8.64M, comprised of 6.9% salary and 93.1% bonuses, including company stock and options. directly owns 0.34% of the company’s shares, worth €7.50M. The average tenure of the management team and the board of directors is 4.8 years and 7.3 years respectively.

Key information

Yogesh Gupta

Chief executive officer

US$8.6m

Total compensation

CEO salary percentage	6.9%
CEO tenure	7.9yrs
CEO ownership	0.3%
Management average tenure	4.8yrs
Board average tenure	7.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Yogesh Gupta's remuneration changed compared to Progress Software's earnings?
Date	Total Compensation	Salary	Company Earnings
May 31 2024	n/a	n/a	US$73m
Feb 29 2024	n/a	n/a	US$69m
Nov 30 2023	US$9m	US$599k	US$70m
Aug 31 2023	n/a	n/a	US$79m
May 31 2023	n/a	n/a	US$81m
Feb 28 2023	n/a	n/a	US$98m
Nov 30 2022	US$7m	US$575k	US$95m
Aug 31 2022	n/a	n/a	US$86m
May 31 2022	n/a	n/a	US$95m
Feb 28 2022	n/a	n/a	US$80m
Nov 30 2021	US$6m	US$575k	US$78m
Aug 31 2021	n/a	n/a	US$81m
May 31 2021	n/a	n/a	US$74m
Feb 28 2021	n/a	n/a	US$78m
Nov 30 2020	US$5m	US$575k	US$80m
Aug 31 2020	n/a	n/a	US$57m
May 31 2020	n/a	n/a	US$47m
Feb 29 2020	n/a	n/a	US$38m
Nov 30 2019	US$5m	US$575k	US$26m
Aug 31 2019	n/a	n/a	US$40m
May 31 2019	n/a	n/a	US$41m
Feb 28 2019	n/a	n/a	US$45m
Nov 30 2018	US$5m	US$575k	US$50m
Aug 31 2018	n/a	n/a	US$57m
May 31 2018	n/a	n/a	US$54m
Feb 28 2018	n/a	n/a	US$52m
Nov 30 2017	US$3m	US$575k	US$29m

Compensation vs Market: Yogesh's total compensation ($USD8.64M) is above average for companies of similar size in the German market ($USD2.66M).

Compensation vs Earnings: Yogesh's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Yogesh Gupta (63 yo)

7.9yrs

Tenure

US$8,635,534

Compensation

Mr. Yogesh K. Gupta serves as Independent Director at Blackbaud, Inc. since December 8, 2022. He joined Blackbaud, Inc. since December 8, 2022. He has been the Chief Executive Officer of Progress Software...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Yogesh Gupta	CEO, President & Director	7.9yrs	US$8.64m	0.34% $ 7.5m
Anthony Folger	Executive VP & CFO	4.7yrs	US$3.54m	0.088% $ 1.9m
John Ainsworth	Executive VP & GM of Application & Data Platform	7.7yrs	US$1.99m	0.077% $ 1.7m
Loren Jarrett	Executive VP & GM of Digital Experience	5.3yrs	US$1.98m	0.031% $ 692.6k
Sundar Subramanian	Executive VP & GM of Infrastructure Management	5.1yrs	US$2.00m	0.040% $ 888.4k
Domenic Lococo	Chief Accounting Officer	no data	no data	0.0090% $ 198.7k
Ian Pitt	Executive VP & Chief Information Officer	3.1yrs	no data	0.0074% $ 163.5k
Brian Flanagan	Directory of Treasury & Investor Relations	no data	no data	no data
YuFan Wang	Executive Vice President	2yrs	no data	no data
Jennifer Ortiz	Executive Vice President of Marketing	4.9yrs	no data	0.013% $ 295.9k
Jeremy Segal	Executive Vice President of Corporate Development	4.3yrs	US$1.59m	0.0015% $ 32.9k
Dinara Doyle	VP & Chief of Staff	less than a year	no data	no data

4.8yrs

Average Tenure

52yo

Average Age

Experienced Management: PGR's management team is considered experienced (4.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Yogesh Gupta	CEO, President & Director	7.9yrs	US$8.64m	0.34% $ 7.5m
Michael Mark	Non-Voting Director Emeritus and Advisor to President & CEO	6.3yrs	US$280.01k	no data
John Egan	Independent Non-Executive Chairman of the Board	13yrs	US$360.04k	no data
Paul Dacier	Independent Director	7.3yrs	US$287.54k	no data
David Krall	Independent Director	16.6yrs	US$300.04k	0.11% $ 2.3m
Charles Kane	Independent Director	17.8yrs	US$315.04k	0.15% $ 3.4m
Vivian Vitale	Independent Director	4.9yrs	US$300.04k	no data
Angela Tucci	Independent Director	6.6yrs	US$305.04k	no data
Rainer Gawlick	Independent Director	7.3yrs	US$310.04k	0.0023% $ 51.7k
Samskriti King	Independent Director	6.6yrs	US$320.04k	no data

7.3yrs

Average Tenure

65yo

Average Age

Experienced Board: PGR's board of directors are considered experienced (7.3 years average tenure).

Progress Software Management

Management criteria checks 2/4

Key information

Recent management updates

Independent Director recently sold €952k worth of stock

Progress Software Corporation, Annual General Meeting, May 09, 2024

Independent Director recently sold €266k worth of stock

Independent Director recently sold €995k worth of stock

Insufficient new directors

Insufficient new directors

Recent updates

Progress Software Corporation Reiterates Earnings Guidance for the Third Quarter of 2024

Progress Software Corporation to Report Q3, 2024 Results on Sep 24, 2024

Progress Software Corporation (NasdaqGS:PRGS) agreed to acquire novel labs, Inc. from Citrix Systems, Inc. for approximately $880 million.

Progress Announces Latest Release of Semaphore, Its Metadata Management and Semantic AI Platform

Upcoming dividend of US$0.17 per share

Progress Software Corporation Announces the Launch of Progress® Chef® Courier

Progress Software Corporation Introduces MarkLogic FastTrack, Helping Organizations Harness the Power of Connected Data

Progress Enhances Web Application Firewall Capabilities in Loadmaster 360 to Help Organizations Intuitively Secure Their Web Applications

Second quarter dividend of US$0.17 announced

Second quarter 2024 earnings released: EPS: US$0.38 (vs US$0.28 in 2Q 2023)

Progress Announces New Release of Progress Telerik and Progress Kendo UI

Upcoming dividend of US$0.17 per share

Independent Director recently sold €952k worth of stock

Progress Announces Advanced Ai Capabilities to Accelerate Delivery of Digital Experiences

First quarter dividend of US$0.17 announced

Progress Software Corporation, Annual General Meeting, May 09, 2024

Progress Software Corporation Declares Quarterly Dividend, Payable on June 17, 2024

First quarter 2024 earnings released: EPS: US$0.52 (vs US$0.55 in 1Q 2023)

Progress Software Corporation to Report Q1, 2024 Results on Mar 26, 2024

Upcoming dividend of US$0.17 per share

Independent Director recently sold €266k worth of stock

Progress Software Corporation Enables Developers to Accelerate Application Modernization with Latest Release of OpenEdge

Full year 2023 earnings released: EPS: US$1.62 (vs US$2.19 in FY 2022)

Progress Software Corporation Declares Quarterly Dividend, Payable on March 15, 2024

Upcoming dividend of US$0.17 per share at 1.3% yield

Progress Software Corporation Announces the Availability of Progress® Sitefinity® 15

Progress Enables Application Developers to Easily Meet UI Design Requirements and Accessibility Standards with New Release

Progress Introduces LoadMaster 360, a Powerful New Platform for Deploying, Operating and Toubleshooting Applications and Delivery Infrastructure

Third quarter 2023 earnings released: EPS: US$0.44 (vs US$0.50 in 3Q 2022)

Progress Software Corporation Raises Earnings Guidance for the Fiscal Year Ending November 30, 2023

Progress Software Corporation to Report Q3, 2023 Results on Sep 26, 2023

Upcoming dividend of US$0.17 per share at 1.2% yield

Hagens Berman Sobol Shapiro LLP Files Five Nationwide Class-Action Lawsuits Against Progress Software

Second quarter 2023 earnings released: EPS: US$0.28 (vs US$0.67 in 2Q 2022)

Progress Software Corporation Revises Earnings Guidance for the Fiscal Year Ending November 30, 2023

Progress Software Corporation to Report Q2, 2023 Results on Jun 29, 2023

Upcoming dividend of US$0.17 per share at 1.2% yield

Independent Director recently sold €995k worth of stock

First quarter 2023 earnings released: EPS: US$0.55 (vs US$0.47 in 1Q 2022)

Upcoming dividend of US$0.17 per share at 1.2% yield

Progress Software Corporation (NasdaqGS:PRGS) completed the acquisition of Vector Maven Holdings, Inc from Vector Capital.

Progress Makes Building Engaging and Inclusive Apps A Reality with Latest Developer Tools Release

Full year 2022 earnings released: EPS: US$2.19 (vs US$1.79 in FY 2021)

Progress Software Corporation Declares Quarterly Dividend, Payable on March 15, 2023

Progress Software Corporation to Report Fiscal Year 2022 Results on Jan 17, 2023

Upcoming dividend of US$0.17 per share

Insufficient new directors

Insufficient new directors

Third quarter 2022 earnings released: EPS: US$0.50 (vs US$0.71 in 3Q 2021)

Progress Software Corporation Provides Earnings Guidance for the Fiscal Fourth Quarter and Fiscal Year Ending November 30, 2022

Progress Software Corporation Announces Appointment of Yufan Stephanie Wang as Executive Vice President, Chief Legal Officer and Secretary

Progress Software Corporation to Report Q3, 2022 Results on Sep 27, 2022

Upcoming dividend of US$0.17 per share

Progress Software Corporation Announces Latest Release of Progress Flowmon

Second quarter 2022 earnings released: EPS: US$0.67 (vs US$0.31 in 2Q 2021)

Progress Software Corporation to Report Q2, 2022 Results on Jun 28, 2022

Progress Announces Official Launch of Telerik UI for .NET MAUI, Shipping with General Availability of the Microsoft .NET MAUI Framework

Upcoming dividend of US$0.17 per share

Key Executive recently sold €903k worth of stock

Progress Software Corporation Extends Market Leadership with Largest Ui Suites for Blazor and .Net Maui in Latest Telerik and Kendo Ui Release

Independent Director recently sold €219k worth of stock

Progress Software Corporation, Annual General Meeting, May 12, 2022

First quarter 2022 earnings released: EPS: US$0.47 (vs US$0.43 in 1Q 2021)

Progress Software Corporation Provides Earnings Guidance for the Fiscal Second Quarter Ending May 31, 2022

Upcoming dividend of US$0.17 per share

Progress Delivers Next-Level Developer Productivity with the Largest Suites of Native Components for Blazor, Angular and React

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Progress Software Corporation Provides Earnings Guidance for the Fiscal First Quarter Ending February 28, 2022 and Fiscal Year Ending November 30, 2022

Progress Releases Progress® Fiddler™ Everywhere