PROGRESS SOFTWARE CORP /MA — Director's Dealing 2011

Apr 13, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2011-04-11

Reporting Person: REIDY RICHARD (Director, President and CEO.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-04-11	Common Stock	M	15000	$11.616	Acquired	131221	Direct
2011-04-11	Common Stock	S	15000	$30.154	Disposed	116221	Direct
2011-04-11	Common Stock	S	18000	$30.154	Disposed	98221	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-04-11	Stock Option	$11.616	S	15000	Disposed	2011-10-09	Common Stock (15000)	Direct

Footnotes

F1: The trading activity reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 8, 2011.

F2: These three reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the deemed grant of two replacement options. The option was originally granted on October 10, 2001 and vested in 60 equal monthly increments of 833.3 shares commencing on March 1, 2001.