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
Alsop, Joseph Wright
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
August 1996
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
President and Treasurer
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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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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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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Nonqualified Stock Opt|$15.50 |04/02|J (1|V| | |03-01|04/01|Common Stock|124,100| |124,100 (2) |D | |
ion | |/96 |) | | | |-96 (|/06 | | | | | | |
| | | | | | |1) | | | | | | | |
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Incentive Stock Option|$15.50 |04/02|J (1|V| | |03-01|04/01|Common Stock|12,900 | |12,900 (3) |D | |
| |/96 |) | | | |-96 (|/06 | | | | | | |
| | | | | | |1) | | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) The reported transaction involves an option which was granted on 04-02-96,
and which provided for vesting
in equal monthly increments over a 60 month period. On 08-21-96 the option was
amended such that the option will
continue to vest in equal monthly increments over a 60 month period; but the
vesting of the option may accelerate
if certain financial performance criteria are
met.
(2) On 8-31-96 options to purchase 12406 shares were
vested.
(3) On 8-31-96 options to purchase 1290 shares were
vested.
SIGNATURE OF REPORTING PERSON
Joseph Wright Alsop
DATE
11-15-96
