<SEC-DOCUMENT>0001140361-17-004923.txt : 20170207
<SEC-HEADER>0001140361-17-004923.hdr.sgml : 20170207
<ACCEPTANCE-DATETIME>20170207170231
ACCESSION NUMBER:		0001140361-17-004923
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170203
FILED AS OF DATE:		20170207
DATE AS OF CHANGE:		20170207

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:			Uddo Peter
		CENTRAL INDEX KEY:			0001662083

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19417
		FILM NUMBER:		17579894

	MAIL ADDRESS:	
		STREET 1:		C/O PRAESIDIUM INVESTMENT MANAGEMENT CO.
		STREET 2:		1411 BROADWAY, 29TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Oram Kevin
		CENTRAL INDEX KEY:			0001662082

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19417
		FILM NUMBER:		17579895

	MAIL ADDRESS:	
		STREET 1:		C/O PRAESIDIUM INVESTMENT MANAGEMENT CO.
		STREET 2:		1411 BROADWAY, 29TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Praesidium Investment Management Company, LLC
		CENTRAL INDEX KEY:			0001320769
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19417
		FILM NUMBER:		17579896

	BUSINESS ADDRESS:	
		STREET 1:		1411 BROADWAY
		STREET 2:		29TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		(212) 821-1495

	MAIL ADDRESS:	
		STREET 1:		1411 BROADWAY
		STREET 2:		29TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
</SEC-HEADER>
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<DESCRIPTION>FORM 4
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    <periodOfReport>2017-02-03</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0000876167</issuerCik>
        <issuerName>PROGRESS SOFTWARE CORP /MA</issuerName>
        <issuerTradingSymbol>PRGS</issuerTradingSymbol>
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    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001320769</rptOwnerCik>
            <rptOwnerName>Praesidium Investment Management Company, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1411 BROADWAY - 29TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10018</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
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    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001662082</rptOwnerCik>
            <rptOwnerName>Oram Kevin</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1411 BROADWAY - 29TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10018</rptOwnerZipCode>
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    <reportingOwner>
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            <rptOwnerName>Uddo Peter</rptOwnerName>
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            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10018</rptOwnerZipCode>
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            <otherText></otherText>
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    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2017-02-03</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>100000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>27.9360</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
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            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4857017</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
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            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">On February 3, 2017, Praesidium Investment Management Company, LLC (&quot;Praesidium&quot;) in open market transactions sold shares of common stock of Progress Software Corporation (the &quot;Issuer&quot;) on behalf of certain third party accounts it manages (the &quot;Managed Accounts&quot;) and certain investment fund vehicles (the &quot;Investment Fund Vehicles&quot;) for which Praesidium serves as investment manager.  The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $27.90 to $28.04, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.</footnote>
        <footnote id="F2">Praesidium may be deemed to beneficially own 4,577,066 shares of common stock of the Issuer held in the Managed Accounts (the &quot;Managed Account Shares&quot;) and 279,951 shares of common stock of the Issuer held in the accounts of the Investment Fund Vehicles (the &quot;Investment Fund Vehicle Shares&quot;) because Praesidium may be deemed to exercise investment power over such shares. Kevin Oram and Peter Uddo may be deemed to beneficially own the Managed Account Shares and the Investment Fund Vehicle Shares because they may be deemed to control Praesidium as the managing members of Praesidium. Praesidium, Mr. Oram and Mr. Uddo may be deemed to have a pecuniary interest in the Managed Account Shares due to Praesidium's right to receive performance fees subject to certain hurdles and/or benchmarks.</footnote>
        <footnote id="F3">Further, Praesidium, Mr. Oram and Mr. Uddo may be deemed to have a pecuniary interest in the Investment Fund Vehicle Shares due to their indirect right to receive a performance fee and/or performance allocation, as applicable, subject to certain hurdles and/or benchmarks. Each of Praesidium, Mr. Oram and Mr. Uddo disclaims beneficial ownership of the reported securities of the Issuer except to the extent of his or its pecuniary interest therein, and this report shall not be deemed an admission that any of Praesidium, Mr. Oram or Mr. Uddo is the beneficial owner of such securities for Section 16 or any other purpose.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Praesidium Investment Management Company, LLC by /s/ Kevin Oram, Managing Member</signatureName>
        <signatureDate>2017-02-07</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Kevin Oram</signatureName>
        <signatureDate>2017-02-07</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Peter Uddo</signatureName>
        <signatureDate>2017-02-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
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