PROGRESS SOFTWARE CORP /MA — Director's Dealing 2015

Apr 3, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2015-04-01

Reporting Person: PEAD PHILIP M (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-04-01	Common Stock	M	50000	—	Acquired	278293	Direct
2015-04-01	Common Stock	F	16803	$26.78	Disposed	261490	Direct
2015-04-01	Common Stock	M	12239	—	Acquired	273729	Direct
2015-04-01	Common Stock	F	5450	$26.78	Disposed	268279	Direct
2015-04-01	Common Stock	M	39334	—	Acquired	307613	Direct
2015-04-01	Common Stock	F	17514	$26.78	Disposed	290099	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-04-01	Common Stock	$	M	50000	Disposed		Common Stock (50000)	Direct
2015-04-01	Common Stock	$	M	12239	Disposed		Common Stock (12239)	Direct
2015-04-01	Common Stock	$	M	39334	Disposed		Common Stock (39334)	Direct

Footnotes

F1: Restricted stock units convert into common stock on a one-for-one basis.

F2: Represents shares of common stock withheld by Issuer to pay tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 22, 2013.

F3: Represents shares of common stock withheld by Issuer to pay tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 13, 2014.

F4: Represents shares of common stock withheld by Issuer to pay tax withholding obligations of the Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 7, 2014.

F5: On January 22, 2013, the Reporting Person was granted 300,000 restricted stock units, vesting in six equal semi-annual installments beginning on October 1, 2013, subject to the continued employment of the Reporting Person with Issuer.

F6: On January 13, 2014, the Reporting Person was granted 73,437 restricted stock units, vesting in six equal semi-annual installments beginning on October 1, 2014, subject to the continued employment of the Reporting Person with Issuer.

F7: On January 7, 2014, the Reporting Person was granted 236,000 performance-based restricted stock units, vesting in five installments, with one-third vesting on April 1, 2014 and the remaining restricted stock units vesting in four equal semi-annual installments, subject to the continued employment of the Reporting Person with Issuer.