<SEC-DOCUMENT>0001227485-16-000011.txt : 20161018
<SEC-HEADER>0001227485-16-000011.hdr.sgml : 20161018
<ACCEPTANCE-DATETIME>20161018171759
ACCESSION NUMBER:		0001227485-16-000011
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20161014
FILED AS OF DATE:		20161018
DATE AS OF CHANGE:		20161018

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PROGRESS SOFTWARE CORP /MA
		CENTRAL INDEX KEY:			0000876167
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				042746201
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	BUSINESS ADDRESS:	
		STREET 1:		14 OAK PARK
		CITY:			BEDFORD
		STATE:			MA
		ZIP:			01730
		BUSINESS PHONE:		781-280-4473

	MAIL ADDRESS:	
		STREET 1:		14 OAK PARK DRIVE
		CITY:			BEDFORD
		STATE:			MA
		ZIP:			01730

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PEAD PHILIP M
		CENTRAL INDEX KEY:			0001227485

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19417
		FILM NUMBER:		161941425
</SEC-HEADER>
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        <issuerName>PROGRESS SOFTWARE CORP /MA</issuerName>
        <issuerTradingSymbol>PRGS</issuerTradingSymbol>
    </issuer>

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            <rptOwnerCik>0001227485</rptOwnerCik>
            <rptOwnerName>PEAD PHILIP M</rptOwnerName>
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            <rptOwnerStreet1>C/O PROGRESS SOFTWARE CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>14 OAK PARK DRIVE</rptOwnerStreet2>
            <rptOwnerCity>BEDFORD</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>01730</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>Former Chief Executive Officer</otherText>
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    <footnotes>
        <footnote id="F1">Restricted stock units convert into common stock on a one-for-one basis.</footnote>
        <footnote id="F2">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. Reporting Person retired as Chief Executive Officer effective October 14, 2016, and the unvested restricted stock units were cancelled.</footnote>
        <footnote id="F3">On January 13, 2014, the Reporting Person was granted 54,554 performance-based restricted stock units that vest based on Issuer's total shareholder return over a three-year period, as will be determined at the first meeting of the Issuer's compensation committee following November 30, 2016. Reporting Person retired as Chief Executive Officer effective October 14, 2016, and the unvested performance-based restricted stock units were cancelled.</footnote>
        <footnote id="F4">On March 2, 2015, the Reporting Person was granted 26,154 performance-based restricted stock units based on Issuer performance in FY15. Upon determination of achievement for FY15, each restricted stock unit vests in five installments, with one-third vesting on April 1, 2016 and the remaining restricted stock units vesting in four equal semi-annual installments beginning, subject to the continued employment of the Reporting Person with Issuer. Reporting Person retired as Chief Executive Officer effective October 14, 2016, and the unvested restricted stock units were cancelled.</footnote>
        <footnote id="F5">On March 2, 2015, the Reporting Person was granted 17,436 restricted stock units, vesting in six equal semi-annual installments beginning on October 1, 2015, subject to the continued employment of the Reporting Person with Issuer. Reporting Person retired as Chief Executive Officer effective October 14, 2016, and the unvested restricted stock units were cancelled.</footnote>
        <footnote id="F6">On March 2, 2015, the Reporting Person was granted 47,222 performance-based restricted stock units that vest based on Issuer's total shareholder return over a three-year period, as will be determined at the first meeting of the Issuer's compensation committee following November 30, 2017. Reporting Person retired as Chief Executive Officer effective October 14, 2016, and the unvested performance-based restricted stock units were cancelled.</footnote>
        <footnote id="F7">On January 19, 2016, the Reporting Person was granted 22,389 restricted stock units, vesting in six equal semi-annual installments beginning on October 1, 2016, subject to the continued employment of the Reporting Person with Issuer. Reporting Person retired as Chief Executive Officer effective October 14, 2016, and the unvested restricted stock units were cancelled.</footnote>
        <footnote id="F8">On January 19, 2016, the Reporting Person was granted 48,508 performance-based restricted stock units that vest based on Issuer's total shareholder return over a three-year period, as will be determined at the first meeting of the Issuer's compensation committee following November 30, 2018. Reporting Person retired as Chief Executive Officer effective October 14, 2016, and the unvested performance-based restricted stock units were cancelled.</footnote>
    </footnotes>

    <remarks>The Reporting Person retired as the Chief Executive Officer of Issuer on October 10, 2016 and his employment with Issuer terminated effective October 14, 2016. The Reporting Person will remain as a Director of Issuer and subject to Section 16 in connection with his transactions in the equity securities of Issuer.</remarks>

    <ownerSignature>
        <signatureName>Stephen H. Faberman, attorney-in-fact</signatureName>
        <signatureDate>2016-10-18</signatureDate>
    </ownerSignature>
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<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>attach_1.htm
<TEXT>
<HTML><BODY><PRE>POWER OF ATTORNEY



Know all by these presents, that the undersigned hereby constitutes and appoints Stephen H. Faberman, Deputy General Counsel of Progress Software Corporation (the "Company"), signing singly, with full power of substitution, the undersigned's true and lawful attorney-in-fact to:



1. Execute for and on behalf of the undersigned, in the undersigned's capacity as an officer, director and/or 10% shareholder of the Company, Form 144 Notice of Proposed Sale of Securities pursuant to Rule 144 under the Securities Act of 1933;



2. Execute for and on behalf of the undersigned, in the undersigned's capacity as an officer, director and/or 10% shareholder of the Company, Forms 3, 4 and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934 and the rules thereunder;



3. Do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Forms 144, 3, 4 or 5 and timely file such forms with the United States Securities and Exchange Commission and any stock exchange or similar authority; and



4. Take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interests of, or legally required by the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact's discretion.



The undersigned hereby grants to such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers herein granted.  The undersigned acknowledges that the foregoing attorney-in-fact, in serving in such capacity at the request of the undersigned, is not assuming, nor is the Company assuming, any of the undersigned's responsibilities to comply with Rule 144 under the Securities Act of 1933, as amended and Section 16 of the Securities Exchange Act of 1934, as amended.



This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 144, 3, 4 and 5 with respect to the undersigned's holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact.



IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed this ____ day of July, 2011.









/s/ Philip Pead

________________________



Signature









___Philip Pead_____________________



Print Name





</PRE></BODY></HTML>
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