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: Bates John (Sr. VP,CTO,Head of Corp. Dev.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-03-25	Common Stock	M	3500	$23.07	Acquired	12330	Direct
2010-03-25	Common Stock	S	3500	$32.52	Disposed	8830	Direct
2010-03-25	Common Stock	M	3500	$25.01	Acquired	12330	Direct
2010-03-25	Common Stock	S	3500	$32.52	Disposed	8830	Direct
2010-03-25	Common Stock	M	8334	$19.51	Acquired	17164	Direct
2010-03-25	Common Stock	S	8334	$32.52	Disposed	8830	Direct
2010-03-25	Common Stock	M	2600	$22.01	Acquired	11430	Direct
2010-03-25	Common Stock	S	2600	$32.52	Disposed	8830	Direct
2010-03-25	Common Stock	M	2600	$23.90	Acquired	11430	Direct
2010-03-25	Common Stock	S	2600	$32.52	Disposed	8830	Direct
2010-03-25	Common Stock	S	3496	$32.52	Disposed	5334	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-03-25	Employee Stock Option	$23.07	M	3500	Disposed	2013-05-23	Common Stock (3500)	Direct
2010-03-25	Employee Stock Option	$25.01	M	3500	Disposed	2013-09-19	Common Stock (3500)	Direct
2010-03-25	Employee Stock Option	$19.51	M	8334	Disposed	2015-10-15	Common Stock (8334)	Direct
2010-03-25	Employee Stock Option	$22.01	M	2600	Disposed	2016-05-11	Common Stock (2600)	Direct
2010-03-25	Employee Stock Option	$23.90	M	2600	Disposed	2016-10-15	Common Stock (2600)	Direct

Footnotes

F1: Three-sixtieths (3/60) of the options were vested and exercisable on the grant date. The remaining options vest in 57 equal monthly increments commencing on June 1, 2006.

F2: Seven-sixtieths (7/60) of the options were vested and exercisable on the grant date. The remaining options vest in 53 equal monthly increments commencing on October 1, 2006.

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

F4: Three-sixtieths (3/60) of the options were vested and exercisable on the grant date. The remaining options vest in 57 equal monthly increments commencing on June 1, 2009.

F5: Eight-sixtieths (8/60) of the options were vested and exercisable on the grant date. The remaining options vest in 52 equal monthly increments commencing on November 1, 2009.