PROGRESS SOFTWARE CORP /MA — Director's Dealing 2010

Nov 22, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2010-11-18

Reporting Person: Andrews Joseph (SVP, Human Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-11-18	Common Stock	M	174	$16.99	Acquired	14056	Direct
2010-11-18	Common Stock	S	174	$38.60	Disposed	13882	Direct
2010-11-18	Common Stock	M	705	$16.99	Acquired	14587	Direct
2010-11-18	Common Stock	S	705	$38.68	Disposed	13882	Direct
2010-11-19	Common Stock	M	10000	$16.99	Acquired	23882	Direct
2010-11-19	Common Stock	S	10000	$38.85	Disposed	13882	Direct
2010-11-19	Common Stock	M	2400	$16.99	Acquired	16282	Direct
2010-11-19	Common Stock	S	2400	$38.94	Disposed	13882	Direct
2010-11-19	Common Stock	M	5721	$16.99	Acquired	19603	Direct
2010-11-19	Common Stock	S	5721	$38.93	Disposed	13882	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-11-18	Employee Stock Option	$16.99	M	879	Disposed	2013-02-23	Common Stock (879)	Direct
2010-11-19	Employee Stock Option	$16.99	M	18121	Disposed	2013-02-23	Common Stock (18121)	Direct

Footnotes

F1: This option grant reflects an amended option grant where "old" options were cancelled and "new" options were issued as replacement options. The option was originally granted on February 24, 2003 and vested in 60 equal monthly increments commencing on March 1, 2003.