PROGRESS SOFTWARE CORP /MA — Director's Dealing 2020

Jan 24, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PROGRESS SOFTWARE CORP /MA (PRGS)
CIK: 0000876167
Period of Report: 2020-01-22

Reporting Person: Jalbert Paul A (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-01-22	Common Stock	M	13698	$29.05	Acquired	34896	Direct
2020-01-22	Common Stock	S	13698	$48.16	Disposed	21198	Direct
2020-01-23	Common Stock	M	708	$29.05	Acquired	21906	Direct
2020-01-23	Common Stock	S	708	$48	Disposed	21198	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-01-22	Employee Stock Options	$29.05	M	13698	Disposed	2024-03-30	Common Stock (13698.0)	Direct
2020-01-23	Employee Stock Options	$29.05	M	708	Disposed	2024-03-30	Common Stock (708.0)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $48.00 to $48.24 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: 4,410 shares on October 1, 2017; 4,410 shares on April 1, 2018, 4,409 shares on October 1, 2018; and 469 shares on April 1, 2019.

F3: Options were granted to the Reporting Person on March 31, 2017 under the Company's 2008 Stock Option and Incentive Plan and vested on April 1, 2019.