PROGRESS SOFTWARE CORP /MA — Director's Dealing 2011

May 19, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2011-05-17

Reporting Person: FREEDMAN JAMES (SVP & General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-17	Common Stock	M	1152	$21.50	Acquired	15081	Direct
2011-05-17	Common Stock	S	1152	$27.45	Disposed	13929	Direct
2011-05-17	Common Stock	M	7750	$20.79	Acquired	21679	Direct
2011-05-17	Common Stock	S	7750	$27.45	Disposed	13929	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-17	Stock Option	$20.79	M	7750	Disposed	2014-04-25	Common Stock (7750)	Direct
2011-05-17	Stock Option	$21.50	M	1152	Disposed	2014-10-15	Common Stock (1152)	Direct

Footnotes

F1: Two-sixtieths (2/60) of the option vested on the date of grant, thereafter the option vests in equal monthly increments over a 58 month period commencing May 1, 2007.

F2: Eight-sixtieths (8/60) of the option vested on the date of grant, thereafter the option vests in equal monthly increments over a 52 month period commencing November 1, 2007.