PROGRESS SOFTWARE CORP /MA — Director's Dealing 2018

Apr 3, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2018-04-01

Reporting Person: Taslakov Dimitre (Chief Talent Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-04-01	Common Stock	M	508	—	Acquired	43426	Direct
2018-04-01	Common Stock	F	206	$40.125	Disposed	43220	Direct
2018-04-01	Common Stock	M	190	—	Acquired	43410	Direct
2018-04-01	Common Stock	F	77	$40.125	Disposed	43333	Direct
2018-04-01	Common Stock	M	1196	—	Acquired	44529	Direct
2018-04-01	Common Stock	F	484	$40.125	Disposed	44045	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-04-01	Restricted Stock Units	$	M	508	Disposed		Common Stock (508.0)	Direct
2018-04-01	Common Stock	$	M	190	Disposed		Common Stock (190.0)	Direct
2018-04-01	Restricted Stock Units	$	M	1196	Disposed		Common Stock (1196.0)	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 obligation of Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on January 18, 2016.

F3: Represents shares of common stock withheld by Issuer to pay tax withholding obligation of Reporting Person upon the vesting of performance-based restricted stock units granted to the Reporting Person on January 18, 2016.

F4: Represents shares of common stock withheld by Issuer to pay tax withholding obligation of Reporting Person upon the vesting of restricted stock units granted to the Reporting Person on February 17, 2017.

F5: Represents restricted stock units acquired by the Reporting Person pursuant to the Company's 2008 Stock Option and Incentive Plan. Each restricted stock unit represents a contingent right to receive one share of common stock. The restricted stock units vest in six equal semiannual installments beginning on October 1, 2016, subject to the continued employment of the Reporting Person with Issuer.

F6: Represents restricted stock units acquired by the Reporting Person upon conversion of performance share units relating to FY16 performance pursuant to the Company's 2008 Stock Option and Incentive Plan. Each restricted stock unit represents a contingent right to receive one share of common stock. One-third of the restricted units vest on April 1, 2017, with the remaining restricted stock units vesting in four semiannual installments over two years, subject to the continued employment of the Reporting Person with Issuer.

F7: Represents restricted stock units acquired by the Reporting Person pursuant to the Company's 2008 Stock Option and Incentive Plan. Each restricted stock unit represents a contingent right to receive one share of common stock. The restricted stock units vest in six equal semiannual installments beginning on October 1, 2017, subject to the continued employment of the Reporting Person with Issuer.