PROGRESS SOFTWARE CORP /MA — Director's Dealing 2011

May 16, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2011-05-12

Reporting Person: FREEDMAN JAMES (SVP & General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-12	Common Stock	M	598	$20.54	Acquired	14527	Direct
2011-05-12	Common Stock	S	598	$28.91	Disposed	13929	Direct
2011-05-12	Common Stock	M	10500	$20.54	Acquired	24429	Direct
2011-05-12	Common Stock	S	10500	$28.91	Disposed	13929	Direct
2011-05-12	Common Stock	M	2550	$20.79	Acquired	16479	Direct
2011-05-12	Common Stock	S	2550	$29.04	Disposed	13929	Direct
2011-05-12	Common Stock	M	2450	$20.79	Acquired	16379	Direct
2011-05-12	Common Stock	S	2450	$29.04	Disposed	13929	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-12	Stock Option	$20.54	M	598	Disposed	2012-11-14	Common Stock (598)	Direct
2011-05-12	Stock Option	$20.54	M	10500	Disposed	2012-11-14	Common Stock (10500)	Direct
2011-05-12	Stock Option	$20.79	M	2550	Disposed	2014-04-25	Common Stock (2550)	Direct
2011-05-12	Stock Option	$20.79	M	2450	Disposed	2014-04-25	Common Stock (2450)	Direct

Footnotes

F1: Nine-sixtieths of the option vested on the date of the grant, thereafter the option vested in equal monthly increments over a 51 month period commencing December 1, 2005.

F2: 2/60ths 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.