PROGRESS SOFTWARE CORP /MA — Director's Dealing 2011

May 5, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2011-05-03

Reporting Person: FREEDMAN JAMES (SVP & General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-03	Common Stock	M	300	$20.54	Acquired	14229	Direct
2011-05-03	Common Stock	S	300	$28.60	Disposed	13929	Direct
2011-05-03	Common Stock	M	1328	$20.54	Acquired	15257	Direct
2011-05-03	Common Stock	S	1328	$28.57	Disposed	13929	Direct
2011-05-03	Common Stock	M	6501	$20.54	Acquired	20430	Direct
2011-05-03	Common Stock	S	6501	$28.571	Disposed	13929	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-03	Stock Option	$20.54	M	8129	Disposed	2012-11-14	Common Stock (8129)	Direct

Footnotes

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