UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Frey, Eric D.
14 Oak Park
Bedford, MA 01730
USA
2. Issuer Name and Ticker or Trading Symbol
Progress Software Corporation
PRGS
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
April 1997
5. If Amendment, Date of Original (Month/Year)
April 1997
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Vice President, Product Development
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
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<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Nonqualified Stock Opt|$14.125 |03/03|A |V|17,700 |A |03/03|03/03|Common Stock|17,700 | |17,700(2) |D | |
ion | |/97 | | | | |/97 (|/07 | | | | | | |
| | | | | | |1) | | | | | | | |
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Incentive Stock Option|$14.125 |03/03|A |V|1,700 |A |03/03|03/03|Common Stock|1,700 | |1,700(3) |D | |
| |/97 | | | | |/97 (|/07 | | | | | | |
| | | | | | |1) | | | | | | | |
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Incentive Stock Option|$14.125 |03/03|A |V|1,000 |A |02/01|03/03|Common Stock|1,000 | |1,000 (4) |I |By wife (5) |
| |/97 | | | | |/02 (|/07 | | | | | | |
| | | | | | |1) | | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) Options vest in equal monthly increments over a 60 month period commencing
March 1, 1997.
(2) On 4/4/97, options to purchase 590 shares were
vested.
(3) On 4/4/97, options to purchase 57 shares were
vested.
(4) On 4/4/97, options to purchase 33 shares were
vested.
(5) Mr. Frey disclaims beneficial ownership of these
securities.
SIGNATURE OF REPORTING PERSON
Eric D. Frey
DATE
July 7, 1997
