PROGRESS SOFTWARE CORP /MA — Director's Dealing 2020

Jan 31, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2020-01-29

Reporting Person: Jalbert Paul A (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-01-29	Common Stock	M	7641	$29.05	Acquired	28839	Direct
2020-01-29	Common Stock	S	7641	$46.35	Disposed	21198	Direct
2020-01-29	Common Stock	M	4568	$34.73	Acquired	25766	Direct
2020-01-29	Common Stock	S	4568	$46.35	Disposed	21198	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-01-29	Employee Stock Options	$29.05	M	7641	Disposed	2024-03-30	Common Stock (7641.0)	Direct
2020-01-29	Employee Stock Options	$34.73	M	4568	Disposed	2026-01-21	Common Stock (4568.0)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $46.300 to $46.435 per share. The price reported represents the weighted average sale price of these trades. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the shares sold at each separate price.

F2: Options were granted to the Reporting Person on March 31, 2017 under Progress Software Corporation's (the "Company's") 2008 Stock Option and Incentive Plan and vested as follows: 3,232 shares on April 1, 2019 and 4,409 shares on October 1, 2019.

F3: Options were granted to the Reporting Person on January 22, 2019 under the Company's 2008 Stock Option and Incentive Plan and vested on October 1, 2019.