PROGRESS SOFTWARE CORP /MA — Director's Dealing 2011

Oct 12, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2011-10-07

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-10-07	Common Stock	S	23085	$19.899	Disposed	102033	Direct
2011-10-07	Common Stock	M	27499	$10.047	Acquired	129532	Direct
2011-10-07	Common Stock	S	27499	$19.799	Disposed	102033	Direct
2011-10-07	Common Stock	M	47500	$11.327	Acquired	149533	Direct
2011-10-07	Common Stock	S	47500	$19.799	Disposed	102033	Direct
2011-10-10	Common Stock	M	8749	$12.10	Acquired	110782	Direct
2011-10-10	Common Stock	S	8749	$19.89	Disposed	102033	Direct
2011-10-10	Common Stock	M	43750	$12.50	Acquired	145783	Direct
2011-10-10	Common Stock	S	43750	$19.89	Disposed	102033	Direct
2011-10-10	Common Stock	M	8751	$12.83	Acquired	110784	Direct
2011-10-10	Common Stock	S	8751	$19.89	Disposed	102033	Direct
2011-10-10	Common Stock	M	9108	$13.01	Acquired	111141	Direct
2011-10-10	Common Stock	S	9108	$20.11	Disposed	102.033	Direct
2011-10-11	Common Stock	M	89892	$13.01	Acquired	191925	Direct
2011-10-11	Common Stock	S	89892	$20.11	Disposed	102033	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-10-07	Stock Option	$10.047	M	27499	Disposed	2013-02-23	Common Stock (27499)	Direct
2011-10-07	Stock Option	$11.327	M	47500	Disposed	2013-12-23	Common Stock (47500)	Direct
2011-10-10	Stock Option	$12.10	M	8749	Disposed	2014-05-23	Common Stock (8749)	Direct
2011-10-10	Stock Option	$12.50	M	43750	Disposed	2014-05-23	Common Stock (43750)	Direct
2011-10-10	Stock Option	$12.83	M	8751	Disposed	2014-09-26	Common Stock (8751)	Direct
2011-10-10	Stock Option	$13.01	M	9108	Disposed	2015-10-15	Common Stock (9108)	Direct
2011-10-11	Stock Option	$13.01	M	89892	Disposed	2015-10-15	Common Stock (89892)	Direct

Footnotes

F1: This stock option grant 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 February 24, 2003 and vested in 60 equal monthly increments of 833.3 shares commencing on March 1, 2003.

F2: This stock option grant 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 May 24, 2004 and vested in 60 equal monthly increments of 583.3 shares commencing on March 1, 2004.

F3: This stock option grant 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 September 27, 2004 and vested in 60 equal monthly increments of 583.3 shares commencing on March 1, 2004.

F4: Eight -sixtieths of the option vests on the date of grant, thereafter the option vests in equal monthly increments over a 52 month period commencing November 1, 2008.