---
schema_version: "secwatch.filing_event.v1"
accession: "0000876167-23-000067"
form_type: "8-K"
ticker: "PRGS"
cik: "0000876167"
company_name: "PROGRESS SOFTWARE CORP /MA"
filed_at: "2023-03-13T23:59:59+00:00"
generated_at: "2026-06-18T05:09:01.135692+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Progress Software confirms no material exposure to SVB or Signature Bank failures

## Summary
- No cash deposits or operating accounts maintained with Silicon Valley Bank.
- SVB is a credit agreement lender but has no outstanding funding obligations to the company.
- Fixed-income securities previously purchased via SVB are held by U.S. Bank as custodian.
- No relationships with Signature Bridge Bank, N.A.
- Company believes liquidity concerns at SVB will not disrupt business, operations, or capital access.

## SEC filing metadata
- accession: 0000876167-23-000067
- form_type: 8-K
- ticker: PRGS
- cik: 0000876167
- company_name: PROGRESS SOFTWARE CORP /MA
- filed_at: 2023-03-13T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/876167/000087616723000067/0000876167-23-000067-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/876167/000087616723000067/prgs-20230310.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000876167-23-000067
- JSON: https://secwatch.observer/filing/0000876167-23-000067.json
- Plain text: https://secwatch.observer/filing/0000876167-23-000067.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.