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
05/31/1999
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, Treasurer and Director
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 I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
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)| |
___________________________________________________________________________________________________________________________________|
Common Stock |05/07/|G |V|21,266 |D | | | | |
|99 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |05/07/|G |V|4,432 (1) |A | |4,432 |I |BY WIFE (2) |
|99 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |05/07/|M | |9,000 |A |$9.4167 |651,945 (3) |D | |
|99 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
___________________________________________________________________________________________________________________________________
Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
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)| |
___________________________________________________________________________________________________________________________________|
Employee Stock Option |$9.4167 |05/07|M | |9,000 |D |03/01|03/03|Common Stock|9,000 | |17,500 (5) |D | |
(Right to buy) | |/99 | | | | |/97 (|/07 | | | | | | |
| | | | | | |4) | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
Explanation of Responses:
(1) Gift by Mr. Alsop to his
wife.
(2) Mr. Alsop disclaims beneficial ownership of such
shares.
(3) The amount of securities beneficially owned by Mr. Alsop has been adjusted
by two shares to correct a
calculation error resulting from the Company's 3-for-2 stock split effective
July 13, 1998.
(4) Options vests in 60 equal monthly increments commencing March 1,
1997.
(5) On May 31, 1999, options to purchase 175 shares were
vested.
SIGNATURE OF REPORTING PERSON
Joseph W. Alsop
DATE
06-08-1999
