[8-K] Progress Software Corp (DE) Reports Material Event

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Gaxos.ai Inc. (ticker GXAI) has issued its Definitive Proxy Statement for the 2025 Annual Meeting, scheduled for 9:00 a.m. ET on August 12, 2025 at the company鈥檚 Roseland, NJ headquarters. Shareholders of record as of June 20, 2025 (7,123,453 common shares outstanding) may vote by Internet, mail, phone or in person. A quorum requires 33鈪� % (2,374,482 shares) of the outstanding stock.

Key items up for vote:

Proposal 1 鈥� Election of four directors (Vadim Mats, Adam Holzer, Scott A. Grayson, Roman Feldman) for one-year terms ending at the 2026 meeting.
Proposal 2 鈥� Auditor ratification: Salberg & Company, P.A. to remain independent registered public accounting firm for FY 2025. 2024 audit fee: $67,000; total 2024 fees: $78,000.
Proposal 3 鈥� Equity Plan Amendment: increase shares reserved under the 2022 Omnibus Equity Incentive Plan to 803,637 from 553,637 (additional 250,000 shares 鈮� 3.5 % dilution of current outstanding shares). As of the record date, 414,553 shares remain available for issuance.

The Board, comprising three independent directors, unanimously recommends 鈥淔OR鈥� all three proposals. Compensation highlights: non-employee directors each received $24,000 cash plus options valued at $11,293 (exercise $6.00, vest 3/5/2025). CEO Vadim Mats earned $400,000 salary and $150,000 bonus in 2024; CFO Steven A. Shorr earned $60,000.

Governance notes: majority-independent board; combined CEO/Chair role; established Audit, Compensation and Nominating/Governance committees; insider-trading and anti-hedging policies in force. No related-party transactions above disclosure thresholds; no appraisal rights are available for the current proposals.

Gaxos.ai Inc. (s铆mbolo GXAI) ha emitido su Declaraci贸n Definitiva de Poder para la Junta Anual de 2025, programada para las 9:00 a.m. ET del 12 de agosto de 2025 en la sede de la empresa en Roseland, NJ. Los accionistas registrados al 20 de junio de 2025 (7,123,453 acciones ordinarias en circulaci贸n) pueden votar por Internet, correo, tel茅fono o en persona. El qu贸rum requiere el 33鈪�% (2,374,482 acciones) del capital en circulaci贸n.

Puntos clave para votar:

Propuesta 1 鈥� Elecci贸n de cuatro directores (Vadim Mats, Adam Holzer, Scott A. Grayson, Roman Feldman) por mandatos de un a帽o que finalizan en la reuni贸n de 2026.
Propuesta 2 鈥� Ratificaci贸n del auditor: Salberg & Company, P.A. continuar谩 como firma independiente de auditor铆a para el a帽o fiscal 2025. Honorarios de auditor铆a 2024: 67,000$; honorarios totales 2024: 78,000$.
Propuesta 3 鈥� Enmienda al Plan de Acciones: aumentar las acciones reservadas bajo el Plan de Incentivos de Acciones Omnibus 2022 a 803,637 desde 553,637 (250,000 acciones adicionales 鈮� 3.5% de diluci贸n de las acciones en circulaci贸n actuales). A la fecha de registro, quedan 414,553 acciones disponibles para emisi贸n.

La Junta, compuesta por tres directores independientes, recomienda un谩nimemente votar 鈥淎 FAVOR鈥� de las tres propuestas. Aspectos destacados de la compensaci贸n: los directores no empleados recibieron cada uno 24,000$ en efectivo m谩s opciones valoradas en 11,293$ (precio de ejercicio 6.00$, consolidaci贸n 3/5/2025). El CEO Vadim Mats gan贸 400,000$ de salario y 150,000$ de bono en 2024; el CFO Steven A. Shorr gan贸 60,000$.

Notas de gobernanza: junta mayoritariamente independiente; rol combinado de CEO/Presidente; comit茅s establecidos de Auditor铆a, Compensaci贸n y Nominaci贸n/Gobernanza; pol铆ticas vigentes contra el uso de informaci贸n privilegiada y cobertura. No hay transacciones con partes relacionadas que superen los umbrales de divulgaci贸n; no hay derechos de valoraci贸n disponibles para las propuestas actuales.

Gaxos.ai Inc. (韹办护 GXAI)電� 2025雲� 鞐半 欤检＜齑濏殞毳� 鞙勴暅斓滌 鞙勳瀯鞛� 靹彪獏靹滊ゼ氚滍枆頄堨溂氅�, 齑濏殞電� 2025雲� 8鞗� 12鞚� 霃欕秬鞁滉皠鞓れ爠 9鞁�鞐� 雺挫爛歆€ 搿滌霝滊摐氤胳偓鞐愳劀臧滌禍霅� 鞓堨爼鞛呺媹雼�. 2025雲� 6鞗� 20鞚� 旮办 欤检＜氇呺秬鞐� 霌膘灛霅� 欤检＜(氚滍枆氤错喌欤� 7,123,453欤�)電� 鞚疙劙雱�, 鞖绊幐, 鞝勴檾霕愲姅歆侅爲彀胳劃頃橃棳韴憸頃� 靾� 鞛堨姷雼堧嫟. 鞝曥”靾橂姅氚滍枆欤检嫕鞚� 33鈪�%鞚� 2,374,482欤检瀰雼堧嫟.

韴憸欤检殧鞎堦贝:

鞝滌晥 1 鈥� 鞚挫偓 4氇� 靹犾稖 (Vadim Mats, Adam Holzer, Scott A. Grayson, Roman Feldman), 鞛勱赴電� 1雲勳溂搿� 2026雲� 齑濏殞旯岇鞛呺媹雼�.
鞝滌晥 2 鈥� 臧愳偓鞚� 鞀轨澑: Salberg & Company, P.A.臧€ 2025 須岅硠鞐半弰霃呺 霌彪 須岅硠氩曥澑鞙茧 雮姷雼堧嫟. 2024雲� 臧愳偓靾橃垬耄�: 67,000雼煬; 2024雲� 齑� 靾橃垬耄�: 78,000雼煬.
鞝滌晥 3 鈥� 欤检嫕瓿勴殟靾橃爼: 2022雲� 膦呿暕欤检嫕鞚胳劶韹半笇瓿勴殟頃橃棎鞓堨暯霅� 欤检嫕鞚� 553,637欤检棎靹� 803,637欤�搿� 歃濌皜(於旉皜 250,000欤� 鈮� 順勳灛氚滍枆欤检嫕鞚� 3.5% 頋劃). 旮半鞚� 旮办鞙茧 414,553欤缄皜氚滍枆臧€電� 靸來儨鞛呺媹雼�.

鞚挫偓須岆姅霃呺 鞚挫偓 3氇呾溂搿� 甑劚霅橃柎鞛堨溂氅�, 靹� 臧€歆€ 鞝滌晥氇憪鞐� 雽€頃� 毵岇灔鞚检箻搿� 鈥涤艾靹扁赌�鞚� 甓岅碃頃╇媹雼�. 氤挫儊鞖旍暯: 牍勳瀯鞗� 鞚挫偓霌れ潃臧侁皝順勱笀 24,000雼煬鞕€ 11,293雼煬靸侂嫻鞚� 鞓奠厴(頄夓偓臧€ 6.00雼煬, 2025雲� 3鞗� 5鞚� 氩犾姢韺�)鞚� 氚涭晿鞀惦媹雼�. CEO Vadim Mats電� 2024雲勳棎 400,000雼煬旮夓棳鞕€ 150,000雼煬氤措剤鞀るゼ氚涭晿鞙茧┌, CFO Steven A. Shorr電� 60,000雼煬毳� 氚涭晿鞀惦媹雼�.

瓯半矂雱岇姢欤检殧靷暛: 雼れ垬霃呺 鞚挫偓搿� 甑劚霅� 鞚挫偓須�; CEO鞕€ 鞚挫偓須� 鞚橃灔鞐暊瓴胳瀯; 臧愳偓, 氤挫儊氚� 歆€氇�/瓯半矂雱岇姢鞙勳洂須� 靹れ箻; 雮措秬鞛� 瓯半灅氚� 項れ 旮堨 鞝曥眳鞁滍枆欷�. 瓿店皽旮办鞚� 齑堦臣頃橂姅韸轨垬甏€瓿勳瀽瓯半灅鞐嗢潓; 順勳灛鞝滌晥鞐� 雽€頃� 韽夑皜甓� 鞐嗢潓.

Gaxos.ai Inc. (symbole GXAI) a publi茅 sa d茅claration d茅finitive de procuration pour l'assembl茅e annuelle 2025, pr茅vue 脿 9h00 ET le 12 ao没t 2025 au si猫ge de l'entreprise 脿 Roseland, NJ. Les actionnaires inscrits au 20 juin 2025 (7 123 453 actions ordinaires en circulation) peuvent voter par Internet, courrier, t茅l茅phone ou en personne. Le quorum requiert 33鈪� % (2 374 482 actions) des actions en circulation.

Points cl茅s 脿 voter :

Proposition 1 鈥� 脡lection de quatre administrateurs (Vadim Mats, Adam Holzer, Scott A. Grayson, Roman Feldman) pour des mandats d'un an jusqu'脿 l'assembl茅e de 2026.
Proposition 2 鈥� Ratification de l'auditeur : Salberg & Company, P.A. restera le cabinet d'audit ind茅pendant pour l'exercice 2025. Honoraires d'audit 2024 : 67 000 $ ; honoraires totaux 2024 : 78 000 $.
Proposition 3 鈥� Modification du plan d'actions : augmentation des actions r茅serv茅es dans le Plan d'incitation au capital omnibus 2022 脿 803 637 contre 553 637 (250 000 actions suppl茅mentaires 鈮� dilution de 3,5 % des actions en circulation actuelles). 脌 la date d'enregistrement, 414 553 actions restent disponibles pour 茅mission.

Le conseil d'administration, compos茅 de trois administrateurs ind茅pendants, recommande 脿 l'unanimit茅 de voter 芦 POUR 禄 les trois propositions. Points cl茅s de la r茅mun茅ration : les administrateurs non salari茅s ont chacun re莽u 24 000 $ en esp猫ces plus des options 茅valu茅es 脿 11 293 $ (prix d'exercice 6,00 $, acquisition 03/05/2025). Le PDG Vadim Mats a gagn茅 400 000 $ de salaire et 150 000 $ de prime en 2024 ; le CFO Steven A. Shorr a gagn茅 60 000 $.

Notes sur la gouvernance : conseil majoritairement ind茅pendant ; r么le combin茅 de PDG/Pr茅sident ; comit茅s Audit, R茅mun茅ration et Nomination/Gouvernance 茅tablis ; politiques en vigueur contre le d茅lit d'initi茅 et la couverture. Aucune transaction avec des parties li茅es au-dessus des seuils de divulgation ; aucun droit d'茅valuation disponible pour les propositions actuelles.

Insights

TL;DR: Routine proxy; solid governance, modest equity dilution; no red flags.

The filing covers standard annual-meeting matters. Board structure meets Nasdaq independence rules (3 of 4 independent) and key committees are fully independent. Combining the Chair and CEO roles is explained but may draw investor scrutiny; however, the company鈥檚 relatively small size can justify the arrangement. Governance tools鈥攃ode of ethics, anti-hedging, related-party policy鈥攁re in place and disclosed.

The equity plan amendment adds 250,000 shares, bringing the reserve to 803,637 (鈮� 11.3 % of shares outstanding, of which 414,553 remain unused). While this introduces ~3.5 % incremental dilution, the board states the pool should last two years, indicating measured use of equity compensation. Auditor continuity with Salberg & Co. is typical; fees appear reasonable for a micro-cap.

Overall, the proxy is neutral to slightly dilutive but well within small-cap norms and should not materially affect shareholder value.

TL;DR: Proposals do not alter fundamentals; watch dilution from larger option pool.

No financial performance metrics are included; thus, investment impact is limited to governance and potential share dilution. The plan increase equates to roughly 3.5 % of current shares鈥攎anageable but worth monitoring given GXAI鈥檚 low float (7.1 M shares). Director and executive cash compensation remains modest; option pricing at $6.00 (vs. $1.38 recent price) suggests upside-aligned incentives.

Continuity with Salberg reduces audit-transition risk. With board support for all proposals and no competing slates, passage is likely. From an investor perspective, the filing is non-impactful to near-term valuation but slightly dilutive long term.

Puntos clave para votar:

Propuesta 1 鈥� Elecci贸n de cuatro directores (Vadim Mats, Adam Holzer, Scott A. Grayson, Roman Feldman) por mandatos de un a帽o que finalizan en la reuni贸n de 2026.
Propuesta 2 鈥� Ratificaci贸n del auditor: Salberg & Company, P.A. continuar谩 como firma independiente de auditor铆a para el a帽o fiscal 2025. Honorarios de auditor铆a 2024: 67,000$; honorarios totales 2024: 78,000$.
Propuesta 3 鈥� Enmienda al Plan de Acciones: aumentar las acciones reservadas bajo el Plan de Incentivos de Acciones Omnibus 2022 a 803,637 desde 553,637 (250,000 acciones adicionales 鈮� 3.5% de diluci贸n de las acciones en circulaci贸n actuales). A la fecha de registro, quedan 414,553 acciones disponibles para emisi贸n.

韴憸欤检殧鞎堦贝:

鞝滌晥 1 鈥� 鞚挫偓 4氇� 靹犾稖 (Vadim Mats, Adam Holzer, Scott A. Grayson, Roman Feldman), 鞛勱赴電� 1雲勳溂搿� 2026雲� 齑濏殞旯岇鞛呺媹雼�.
鞝滌晥 2 鈥� 臧愳偓鞚� 鞀轨澑: Salberg & Company, P.A.臧€ 2025 須岅硠鞐半弰霃呺 霌彪 須岅硠氩曥澑鞙茧 雮姷雼堧嫟. 2024雲� 臧愳偓靾橃垬耄�: 67,000雼煬; 2024雲� 齑� 靾橃垬耄�: 78,000雼煬.
鞝滌晥 3 鈥� 欤检嫕瓿勴殟靾橃爼: 2022雲� 膦呿暕欤检嫕鞚胳劶韹半笇瓿勴殟頃橃棎鞓堨暯霅� 欤检嫕鞚� 553,637欤检棎靹� 803,637欤�搿� 歃濌皜(於旉皜 250,000欤� 鈮� 順勳灛氚滍枆欤检嫕鞚� 3.5% 頋劃). 旮半鞚� 旮办鞙茧 414,553欤缄皜氚滍枆臧€電� 靸來儨鞛呺媹雼�.

Points cl茅s 脿 voter :

Proposition 1 鈥� 脡lection de quatre administrateurs (Vadim Mats, Adam Holzer, Scott A. Grayson, Roman Feldman) pour des mandats d'un an jusqu'脿 l'assembl茅e de 2026.
Proposition 2 鈥� Ratification de l'auditeur : Salberg & Company, P.A. restera le cabinet d'audit ind茅pendant pour l'exercice 2025. Honoraires d'audit 2024 : 67 000 $ ; honoraires totaux 2024 : 78 000 $.
Proposition 3 鈥� Modification du plan d'actions : augmentation des actions r茅serv茅es dans le Plan d'incitation au capital omnibus 2022 脿 803 637 contre 553 637 (250 000 actions suppl茅mentaires 鈮� dilution de 3,5 % des actions en circulation actuelles). 脌 la date d'enregistrement, 414 553 actions restent disponibles pour 茅mission.

06/30/2025 - 04:17 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 30, 2025

Progress Software Corporation

(Exact name of registrant as specified in its charter)


Delaware	0-19417	04-2746201
(State or other jurisdiction of incorporation or organization)	(Commission file number)	(I.R.S. Employer Identification No.)


15 Wayside Road, Suite 400, Burlington, Massachusetts						01803
(Address of principal executive offices)						(Zip code)

Registrant’s telephone number, including area code: (781) 280-4000

Not applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.01 par value per share

PRGS

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

☐

Item 2.02 Results of Operations and Financial Condition

On June 30, 2025, Progress Software Corporation ("Progress") issued a press release announcing its financial results for the fiscal second quarter ended May 31, 2025. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that Section, and shall not be incorporated by reference into any other filing by Progress under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 7.01 Regulation FD Disclosure

In connection with the issuance of the press release attached hereto as Exhibit 99.1, the supplemental data attached as Exhibit 99.2 to this Current Report will be available on the Progress website within the investor relations section prior to the live conference call.

The information furnished pursuant to this Item 7.01, including Exhibit 99.2, shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that Section, and shall not be incorporated by reference into any other filing by Progress under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.


Exhibit No.						Description
99.1						Press release issued by Progress Software Corporation dated June 30, 2025
99.2						Q2 2025 Supplemental Data
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



Date:	June 30, 2025	Progress Software Corporation

		By:	/s/ ANTHONY FOLGER
			Anthony Folger
			Chief Financial Officer

Source:

AG真人官方