PROGRESS SOFTWARE CORP /MA — Director's Dealing 2011

May 3, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2011-04-29

Reporting Person: FREEDMAN JAMES (SVP & General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-04-29	Common Stock	M	271	$20.54	Acquired	14200	Direct
2011-04-29	Common Stock	S	271	$29.68	Disposed	13929	Direct
2011-05-02	Common Stock	M	100	$20.54	Acquired	14029	Direct
2011-05-02	Common Stock	S	100	$28.99	Disposed	13929	Direct
2011-05-02	Common Stock	M	375	$13.01	Acquired	14304	Direct
2011-05-02	Common Stock	S	375	$28.91	Disposed	13929	Direct
2011-05-02	Common Stock	M	298	$14.67	Acquired	14227	Direct
2011-05-02	Common Stock	S	298	$28.91	Disposed	13929	Direct
2011-05-02	Common Stock	M	300	$15.93	Acquired	14229	Direct
2011-05-02	Common Stock	S	300	$28.91	Disposed	13929	Direct
2011-05-02	Common Stock	M	375	$19.96	Acquired	14304	Direct
2011-05-02	Common Stock	S	375	$28.91	Disposed	13929	Direct
2011-05-02	Common Stock	M	2152	$20.54	Acquired	16081	Direct
2011-05-02	Common Stock	S	2152	$28.91	Disposed	13929	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-04-29	Stock Option	$20.54	M	271	Disposed	2012-11-14	Common Stock (271)	Direct
2011-05-02	Stock Option	$20.54	M	100	Disposed	2012-11-14	Common Stock (100)	Direct
2011-05-02	Stock Option	$13.01	M	375	Disposed	2015-10-15	Common Stock (375)	Direct
2011-05-02	Stock Option	$14.67	M	298	Disposed	2016-05-11	Common Stock (298)	Direct
2011-05-02	Stock Option	$15.93	M	300	Disposed	2016-10-15	Common Stock (300)	Direct
2011-05-02	Stock Option	$19.96	M	375	Disposed	2015-04-23	Common Stock (375)	Direct
2011-05-02	Stock Option	$20.54	M	2152	Disposed	2012-11-14	Common Stock (2152)	Direct

Footnotes

F1: The option vested in 60 equal monthly increments commencing on March 1, 2005.

F2: Eight -sixtieths 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, 2008

F3: Three - sixtieths of the option vested on the date of grant, thereafter the option vests in equal monthly increments over a 57 month period commencing on June 1, 2009

F4: Eight -sixtieths 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, 2009.

F5: Two-sixtieths 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, 2008.