PROGRESS SOFTWARE CORP /MA — Director's Dealing 2010

Mar 29, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2010-03-25

Reporting Person: FREEDMAN JAMES (Senior VP & General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-03-25	Common Stock	M	4375	$21.86	Acquired	10740	Direct
2010-03-25	Common Stock	S	4375	$32.54	Disposed	6365	Direct
2010-03-25	Common Stock	M	4125	$21.45	Acquired	10490	Direct
2010-03-25	Common Stock	S	4125	$32.54	Disposed	6365	Direct
2010-03-25	Common Stock	M	500	$19.51	Acquired	6865	Direct
2010-03-25	Common Stock	S	500	$32.54	Disposed	6365	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-03-25	Employee Stock Option	$21.86	M	4375	Disposed	2013-11-10	Common Stock (4375)	Direct
2010-03-25	Employee Stock Option	$21.45	M	4125	Disposed	2014-09-26	Common Stock (4125)	Direct
2010-03-25	Employee Stock Option	$19.51	M	500	Disposed	2015-10-15	Common Stock (500)	Direct

Footnotes

F1: Nine-sixtieths (9/60) of the options were vested and exercisable on the grant date. The remaining options vested in 51 equal monthly increments commencing on December 1, 2003.

F2: The options were originally granted on September 27, 2004 and vested in 60 equal monthly increments commencing on March 1, 2004.

F3: Eight-sixtieths (8/60) of the options were vested and exercisable on the greant date. The remaining options vest in 52 equal monthly increments commencing on November 1, 2008